Foot Locker, Inc. $FL Stock Position Raised by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Foot Locker, Inc. by 40.1%, acquiring an additional 31,113 shares, bringing their total ownership to 108,776 shares.
• Foot Locker's most recent financial performance showed a revenue of $1.79 billion, which fell short of analyst expectations of $1.86 billion, contributing to a negative net margin of 4.54%.
• Analysts have mixed ratings on Foot Locker, with three giving it a sell rating, eleven issuing a hold rating, and two assigning a buy rating, reflecting uncertainty around its future performance.

Connor Clark & Lunn Investment Management Ltd. raised its stake in Foot Locker, Inc. (NYSE:FL - Free Report) by 40.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 108,776 shares of the athletic footwear retailer's stock after purchasing an additional 31,113 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.11% of Foot Locker worth $1,534,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Foot Locker by 250.6% during the 1st quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer's stock valued at $35,000 after buying an additional 1,764 shares during the last quarter. Sterling Capital Management LLC boosted its stake in Foot Locker by 819.2% during the 4th quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer's stock valued at $57,000 after purchasing an additional 2,343 shares during the period. Pingora Partners LLC acquired a new position in Foot Locker during the 4th quarter valued at about $61,000. Signaturefd LLC boosted its stake in Foot Locker by 27.2% during the 1st quarter. Signaturefd LLC now owns 4,579 shares of the athletic footwear retailer's stock valued at $65,000 after purchasing an additional 980 shares during the period. Finally, Investors Research Corp boosted its stake in Foot Locker by 19.7% during the 1st quarter. Investors Research Corp now owns 11,529 shares of the athletic footwear retailer's stock valued at $163,000 after purchasing an additional 1,900 shares during the period.

Foot Locker Price Performance

Shares of Foot Locker stock traded up $0.23 on Thursday, hitting $25.87. The company had a trading volume of 3,883,432 shares, compared to its average volume of 2,850,264. The business has a 50-day simple moving average of $24.95 and a 200-day simple moving average of $19.78. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.64 and a quick ratio of 0.49. The company has a market cap of $2.47 billion, a PE ratio of -6.86, a PEG ratio of 2.14 and a beta of 1.75. Foot Locker, Inc. has a 52 week low of $11.00 and a 52 week high of $33.94.

Foot Locker (NYSE:FL - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The athletic footwear retailer reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). The business had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.86 billion. Foot Locker had a negative net margin of 4.54% and a positive return on equity of 3.65%. The business's revenue was down 4.6% on a year-over-year basis. During the same period last year, the firm posted $0.22 earnings per share. Research analysts expect that Foot Locker, Inc. will post 1.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FL. Needham & Company LLC set a $24.00 target price on shares of Foot Locker in a research note on Thursday, May 29th. Gordon Haskett lowered shares of Foot Locker from a "moderate buy" rating to a "hold" rating in a research note on Thursday, May 15th. Barclays lowered shares of Foot Locker from an "overweight" rating to an "equal weight" rating in a research note on Thursday, May 29th. Morgan Stanley reduced their target price on shares of Foot Locker from $16.00 to $14.00 and set an "underweight" rating for the company in a research note on Tuesday, May 6th. Finally, Zacks Research raised shares of Foot Locker from a "strong sell" rating to a "hold" rating in a research note on Monday. Two analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $21.20.

Insider Buying and Selling

In related news, CAO Giovanna Cipriano sold 22,383 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $24.90, for a total transaction of $557,336.70. Following the completion of the sale, the chief accounting officer directly owned 93,895 shares of the company's stock, valued at $2,337,985.50. This represents a 19.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.89% of the stock is currently owned by corporate insiders.

Foot Locker Profile

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.