Charles Schwab Investment Management Inc. Raises Holdings in Foot Locker, Inc. $FL

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Foot Locker by 2.6%, acquiring an additional 30,981 shares, bringing its total ownership to 1,207,430 shares valued at approximately $17 million.
• Several institutional investors significantly raised their stakes in Foot Locker, with Jacobs Levy Equity Management Inc. increasing its ownership by 67.9% and Voloridge Investment Management LLC by 66.8% during the fourth quarter.
• Analysts have mixed opinions on Foot Locker, with Morgan Stanley lowering its price target from $16 to $14 and Barclays downgrading its rating, while Citigroup increased its target to $24, indicating a consensus rating of "Hold."

Charles Schwab Investment Management Inc. lifted its stake in shares of Foot Locker, Inc. (NYSE:FL - Free Report) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,207,430 shares of the athletic footwear retailer's stock after purchasing an additional 30,981 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.27% of Foot Locker worth $17,025,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FL. Jacobs Levy Equity Management Inc. raised its stake in shares of Foot Locker by 67.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,906,406 shares of the athletic footwear retailer's stock valued at $41,483,000 after purchasing an additional 770,932 shares during the period. Voloridge Investment Management LLC raised its stake in shares of Foot Locker by 66.8% during the 4th quarter. Voloridge Investment Management LLC now owns 737,299 shares of the athletic footwear retailer's stock valued at $16,044,000 after purchasing an additional 295,243 shares during the period. Bayberry Capital Partners LP bought a new stake in shares of Foot Locker during the 4th quarter valued at $6,352,000. Twinbeech Capital LP bought a new stake in shares of Foot Locker during the 4th quarter valued at $5,715,000. Finally, Segall Bryant & Hamill LLC raised its stake in shares of Foot Locker by 26.4% during the 1st quarter. Segall Bryant & Hamill LLC now owns 1,082,713 shares of the athletic footwear retailer's stock valued at $15,266,000 after purchasing an additional 226,111 shares during the period.

Insider Activity

In other news, CAO Giovanna Cipriano sold 22,383 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $24.90, for a total value of $557,336.70. Following the completion of the transaction, the chief accounting officer directly owned 93,895 shares in the company, valued at approximately $2,337,985.50. This represents a 19.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.89% of the company's stock.

Foot Locker Price Performance

Shares of FL traded down $1.39 during midday trading on Thursday, reaching $25.09. The stock had a trading volume of 12,943,219 shares, compared to its average volume of 4,579,412. The company's 50-day moving average is $25.16 and its 200 day moving average is $20.03. Foot Locker, Inc. has a 12-month low of $11.00 and a 12-month high of $31.43. The company has a current ratio of 1.59, a quick ratio of 0.49 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of -6.22, a price-to-earnings-growth ratio of 2.21 and a beta of 1.75.

Foot Locker (NYSE:FL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The athletic footwear retailer reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.32). Foot Locker had a positive return on equity of 2.92% and a negative net margin of 4.90%.The firm had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.87 billion. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Foot Locker's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities analysts predict that Foot Locker, Inc. will post 1.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FL has been the subject of several recent analyst reports. JPMorgan Chase & Co. upgraded Foot Locker from an "underweight" rating to a "neutral" rating and boosted their target price for the stock from $16.00 to $24.00 in a research report on Thursday, May 15th. Telsey Advisory Group restated a "market perform" rating and set a $24.00 target price on shares of Foot Locker in a research report on Wednesday. Zacks Research upgraded Foot Locker from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Citigroup boosted their target price on Foot Locker from $20.00 to $24.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Needham & Company LLC restated a "hold" rating on shares of Foot Locker in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $21.33.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.