Kovitz Investment Group Partners LLC Makes New Investment in Foot Locker, Inc. $FL

Key Points

• Kovitz Investment Group Partners LLC acquired a new stake in Foot Locker, Inc., purchasing 70,605 shares valued at approximately $996,000, representing a 0.07% ownership in the company.
• Analysts have issued mixed ratings for Foot Locker, with Barclays downgrading it to "equal weight," while JPMorgan Chase raised its rating to "neutral" and set a price target of $24.00.
• Foot Locker's latest earnings report indicated a loss of ($0.07) EPS and revenue of $1.79 billion, down 4.6% year-over-year and falling short of analysts' estimates.

Kovitz Investment Group Partners LLC bought a new stake in Foot Locker, Inc. (NYSE:FL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 70,605 shares of the athletic footwear retailer's stock, valued at approximately $996,000. Kovitz Investment Group Partners LLC owned 0.07% of Foot Locker as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in FL. GAMMA Investing LLC increased its stake in shares of Foot Locker by 250.6% in 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 period. Sterling Capital Management LLC increased its stake in shares of Foot Locker by 819.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer's stock valued at $57,000 after buying an additional 2,343 shares during the period. Pingora Partners LLC acquired a new stake in shares of Foot Locker in the 4th quarter valued at $61,000. Signaturefd LLC boosted its position in shares of Foot Locker by 27.2% in the 1st quarter. Signaturefd LLC now owns 4,579 shares of the athletic footwear retailer's stock worth $65,000 after purchasing an additional 980 shares during the last quarter. Finally, Investors Research Corp boosted 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 worth $163,000 after purchasing an additional 1,900 shares during the last quarter.

Foot Locker Trading Up 2.1%

FL stock traded up $0.5550 during midday trading on Friday, hitting $26.4150. 5,108,849 shares of the company's stock were exchanged, compared to its average volume of 2,954,773. The stock's fifty day moving average price is $25.00 and its 200-day moving average price is $19.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.49 and a current ratio of 1.64. The company has a market cap of $2.52 billion, a PE ratio of -7.01, a price-to-earnings-growth ratio of 2.16 and a beta of 1.75. Foot Locker, Inc. has a one year low of $11.00 and a one year high of $33.94.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FL. Robert W. Baird set a $24.00 price target on Foot Locker in a research report on Thursday, May 29th. Needham & Company LLC set a $24.00 price target on Foot Locker in a research report on Thursday, May 29th. Barclays lowered Foot Locker from an "overweight" rating to an "equal weight" rating in a research report on Thursday, May 29th. Morgan Stanley reduced their price target on Foot Locker from $16.00 to $14.00 and set an "underweight" rating on the stock in a research report on Tuesday, May 6th. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $24.00 price target on shares of Foot Locker in a research report on Friday, May 30th. Two investment 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $21.20.

Insiders Place Their Bets

In other Foot Locker news, CAO Giovanna Cipriano sold 22,383 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $24.90, for a total transaction of $557,336.70. Following the transaction, the chief accounting officer 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. 0.89% of the stock is currently owned by company 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.