Northern Trust Corp Sells 36,969 Shares of Foot Locker, Inc. $FL

Key Points

• Northern Trust Corp reduced its stake in Foot Locker, Inc. by 3.8%, selling 36,969 shares and now owns approximately 0.99% of the company, valued at $13.3 million.
• Multiple institutional investors have made significant changes to their positions in Foot Locker, with Signaturefd LLC increasing its stake by 27.2% and GAMMA Investing LLC boosting its position by 250.6% in the first quarter.
• Foot Locker reported a disappointing loss of $0.27 EPS for the quarter, missing consensus estimates, with revenue down 2.3% year-over-year.

Northern Trust Corp lessened its stake in Foot Locker, Inc. (NYSE:FL - Free Report) by 3.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 945,771 shares of the athletic footwear retailer's stock after selling 36,969 shares during the quarter. Northern Trust Corp owned about 0.99% of Foot Locker worth $13,335,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FL. Signaturefd LLC grew its position in Foot Locker by 27.2% in the first quarter. Signaturefd LLC now owns 4,579 shares of the athletic footwear retailer's stock valued at $65,000 after acquiring an additional 980 shares during the last quarter. GAMMA Investing LLC lifted 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 worth $35,000 after buying an additional 1,764 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Foot Locker by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,462 shares of the athletic footwear retailer's stock valued at $1,033,000 after acquiring an additional 1,786 shares during the period. Investors Research Corp raised its position in shares of Foot Locker by 19.7% in the first 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. Finally, Nuveen Asset Management LLC boosted its position in shares of Foot Locker by 1.0% in the fourth quarter. Nuveen Asset Management LLC now owns 259,723 shares of the athletic footwear retailer's stock valued at $5,652,000 after acquiring an additional 2,663 shares during the period.

Insider Buying and Selling at Foot Locker

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 shares were 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Franklin Bracken sold 14,922 shares of the company's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $24.50, for a total value of $365,589.00. Following the completion of the transaction, the president directly owned 213,496 shares of the company's stock, valued at approximately $5,230,652. This trade represents a 6.53% decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Foot Locker in a research report on Wednesday, August 27th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $24.00 target price on shares of Foot Locker in a research report on Wednesday, August 27th. JPMorgan Chase & Co. upgraded shares of Foot Locker from an "underweight" rating to a "neutral" rating and upped their price target for the stock from $16.00 to $24.00 in a research report on Thursday, May 15th. Wall Street Zen cut shares of Foot Locker to a "strong sell" rating in a research report on Saturday, August 30th. Finally, Barclays downgraded Foot Locker from an "overweight" rating to an "equal weight" rating in a research report on Thursday, May 29th. Two analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $21.33.

Foot Locker Trading Down 0.2%

Shares of Foot Locker stock opened at $24.11 on Thursday. The company has a fifty day simple moving average of $25.20 and a 200-day simple moving average of $20.16. Foot Locker, Inc. has a 12-month low of $11.00 and a 12-month high of $29.24. The company has a current ratio of 1.59, a quick ratio of 0.49 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -5.98, a PEG ratio of 2.23 and a beta of 1.79.

Foot Locker (NYSE:FL - Get Free Report) last posted its earnings results on Wednesday, August 27th. The athletic footwear retailer reported ($0.27) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.32). The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.87 billion. Foot Locker had a negative net margin of 4.90% and a positive return on equity of 2.92%. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the company posted ($0.05) EPS. On average, equities analysts forecast that Foot Locker, Inc. will post 1.23 EPS for the current fiscal year.

About Foot Locker

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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