Cramer Rosenthal Mcglynn LLC Has $24.49 Million Stake in Foot Locker, Inc. $FL

Key Points

• Cramer Rosenthal Mcglynn LLC has increased its stake in Foot Locker, Inc. by 8.5%, acquiring an additional 135,982 shares to hold a total of 1,736,845 shares, representing 1.8% of its portfolio.
• Foot Locker reported a quarterly earnings of ($0.07) EPS, matching analysts' expectations, but with revenue of $1.79 billion falling short of the forecast of $1.86 billion.
• Analysts have set a consensus target price of $21.20 for Foot Locker, with mixed ratings: two "Buy", twelve "Hold", and two "Sell".

Cramer Rosenthal Mcglynn LLC grew its position in Foot Locker, Inc. (NYSE:FL - Free Report) by 8.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,736,845 shares of the athletic footwear retailer's stock after buying an additional 135,982 shares during the quarter. Foot Locker accounts for approximately 1.8% of Cramer Rosenthal Mcglynn LLC's holdings, making the stock its 23rd biggest holding. Cramer Rosenthal Mcglynn LLC owned 1.82% of Foot Locker worth $24,490,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its position in Foot Locker by 250.6% during the 1st quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer's stock worth $35,000 after purchasing an additional 1,764 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of Foot Locker during the 1st quarter worth about $59,000. Signaturefd LLC lifted its position in Foot Locker by 27.2% during the 1st quarter. Signaturefd LLC now owns 4,579 shares of the athletic footwear retailer's stock worth $65,000 after acquiring an additional 980 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Foot Locker by 100,166.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 6,016 shares of the athletic footwear retailer's stock worth $85,000 after acquiring an additional 6,010 shares in the last quarter. Finally, Investors Research Corp raised its position in shares of Foot Locker by 19.7% in 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 in the last quarter.

Foot Locker Price Performance

NYSE:FL traded down $0.35 during trading hours on Friday, reaching $24.72. The company had a trading volume of 9,427,716 shares, compared to its average volume of 5,146,818. The company has a quick ratio of 0.49, a current ratio of 1.59 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.36 billion, a PE ratio of -6.13, a PEG ratio of 2.10 and a beta of 1.75. The stock has a 50-day moving average of $25.18 and a two-hundred day moving average of $20.07. Foot Locker, Inc. has a one year low of $11.00 and a one year high of $31.43.

Foot Locker (NYSE:FL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The athletic footwear retailer reported ($0.27) 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 business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the firm posted ($0.05) EPS. Foot Locker's revenue for the quarter was down 2.3% compared to the same quarter last year. Analysts forecast that Foot Locker, Inc. will post 1.23 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wall Street Zen lowered Foot Locker to a "strong sell" rating in a research report on Saturday. Zacks Research raised Foot Locker from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Morgan Stanley decreased their target price on Foot Locker from $16.00 to $14.00 and set an "underweight" rating for the company in a research note on Tuesday, May 6th. Citigroup increased their target price on Foot Locker from $20.00 to $24.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $24.00 price target on shares of Foot Locker in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $21.33.

Insider Activity

In other Foot Locker news, CAO Giovanna Cipriano sold 22,383 shares of the 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 sale, the chief accounting officer directly owned 93,895 shares in the company, valued at $2,337,985.50. This represents a 19.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.89% of the stock is owned by company insiders.

Foot Locker Company 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.