Jump Financial LLC Grows Holdings in Foot Locker, Inc. $FL

Key Points

• Jump Financial LLC increased its stake in Foot Locker, Inc. by 691.4% during the 1st quarter, owning 472,118 shares valued at approximately $6.66 million.
• Several large investors, including GAMMA Investing LLC and Northwestern Mutual Wealth Management Co., significantly enhanced their holdings in Foot Locker, signaling strong institutional interest in the company.
• Foot Locker's quarterly earnings met expectations at ($0.07) EPS, with revenue falling short of estimates at $1.79 billion, reflecting a 4.6% decline year-over-year.

Jump Financial LLC lifted its position in shares of Foot Locker, Inc. (NYSE:FL - Free Report) by 691.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 472,118 shares of the athletic footwear retailer's stock after purchasing an additional 412,461 shares during the period. Jump Financial LLC owned 0.50% of Foot Locker worth $6,657,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. American Century Companies Inc. lifted its position in shares of Foot Locker by 17.0% during the first quarter. American Century Companies Inc. now owns 1,940,528 shares of the athletic footwear retailer's stock valued at $27,361,000 after purchasing an additional 281,322 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Foot Locker by 67.9% during the fourth 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 in the last quarter. Charles Schwab Investment Management Inc. raised its position in Foot Locker by 2.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,207,430 shares of the athletic footwear retailer's stock worth $17,025,000 after acquiring an additional 30,981 shares during the period. Segall Bryant & Hamill LLC raised its position in Foot Locker by 26.4% in the first quarter. Segall Bryant & Hamill LLC now owns 1,082,713 shares of the athletic footwear retailer's stock worth $15,266,000 after acquiring an additional 226,111 shares during the period. Finally, Northern Trust Corp raised its position in Foot Locker by 9.1% in the fourth quarter. Northern Trust Corp now owns 982,740 shares of the athletic footwear retailer's stock worth $21,384,000 after acquiring an additional 81,735 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FL. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $24.00 price objective on shares of Foot Locker in a research report on Wednesday. Gordon Haskett lowered shares of Foot Locker from a "moderate buy" rating to a "hold" rating in a research report on Thursday, May 15th. Robert W. Baird lifted their price objective on shares of Foot Locker from $24.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday. Barclays lowered shares of Foot Locker from an "overweight" rating to an "equal weight" rating in a research report on Thursday, May 29th. Finally, Needham & Company LLC reaffirmed 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 given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Foot Locker presently has a consensus rating of "Hold" and a consensus price target of $21.33.

Insider Buying and Selling

In related news, CAO Giovanna Cipriano sold 22,383 shares of the business's 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 transaction, the chief accounting officer owned 93,895 shares of the company's stock, valued at approximately $2,337,985.50. The trade was 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 accessible through the SEC website. Corporate insiders own 0.89% of the company's stock.

Foot Locker Price Performance

NYSE:FL traded down $1.39 during mid-day trading on Thursday, hitting $25.09. 12,943,219 shares of the stock traded hands, compared to its average volume of 4,700,441. The business's 50-day moving average price is $25.14 and its 200 day moving average price is $19.99. The company has a market cap of $2.39 billion, a PE ratio of -6.65, a price-to-earnings-growth ratio of 2.21 and a beta of 1.75. Foot Locker, Inc. has a 12-month low of $11.00 and a 12-month high of $31.43. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 0.17.

Foot Locker (NYSE:FL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 27th. The athletic footwear retailer reported ($0.27) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.32). The firm had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.87 billion. Foot Locker had a negative net margin of 4.54% and a positive return on equity of 3.65%. Foot Locker's revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.05) EPS. On average, analysts expect that Foot Locker, Inc. will post 1.23 EPS for the current fiscal year.

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.