Jennison Associates LLC Decreases Stock Position in Foot Locker, Inc. (NYSE:FL)

Jennison Associates LLC reduced its position in Foot Locker, Inc. (NYSE:FL - Free Report) by 21.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 500,073 shares of the athletic footwear retailer's stock after selling 140,278 shares during the quarter. Jennison Associates LLC owned approximately 0.53% of Foot Locker worth $7,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Proficio Capital Partners LLC purchased a new position in shares of Foot Locker in the fourth quarter valued at $241,000. Raymond James Financial Inc. purchased a new position in Foot Locker during the fourth quarter worth about $1,619,000. Harbour Investments Inc. grew its position in Foot Locker by 81.6% during the fourth quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer's stock worth $31,000 after buying an additional 648 shares in the last quarter. Quantbot Technologies LP purchased a new position in Foot Locker during the fourth quarter worth about $1,991,000. Finally, American Century Companies Inc. grew its position in Foot Locker by 5.2% during the fourth quarter. American Century Companies Inc. now owns 1,659,206 shares of the athletic footwear retailer's stock worth $36,104,000 after buying an additional 81,814 shares in the last quarter.

Insider Buying and Selling at Foot Locker

In other news, CAO Giovanna Cipriano sold 22,383 shares of the business's stock in a transaction 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 sale, the chief accounting officer directly owned 93,895 shares of the company's stock, valued at $2,337,985.50. The trade was a 19.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Foot Locker Stock Performance

Shares of FL opened at $25.19 on Monday. The business's fifty day simple moving average is $23.60 and its two-hundred day simple moving average is $18.96. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.17. Foot Locker, Inc. has a 12 month low of $11.00 and a 12 month high of $33.94. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -6.68, a P/E/G ratio of 2.10 and a beta of 1.72.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on FL. Evercore ISI dropped their price target on Foot Locker from $22.00 to $15.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Morgan Stanley lowered 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. Robert W. Baird set a $24.00 target price on Foot Locker in a research note on Thursday, May 29th. Citigroup boosted their target price on Foot Locker from $20.00 to $24.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. raised Foot Locker from an "underweight" rating to a "neutral" rating and boosted their target price for the company from $16.00 to $24.00 in a research note on Thursday, May 15th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $21.20.

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.

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