Nuveen LLC Buys New Position in Foot Locker, Inc. $FL

Key Points

• Nuveen LLC has acquired a new position in Foot Locker, purchasing 268,789 shares, valued at approximately $3.79 million, which represents a 0.28% ownership in the company.
• Foot Locker's stock saw a range of analyst ratings, with JPMorgan Chase upgrading the stock to "neutral" and raising the target price to $24, while others have issued "hold" and "sell" ratings.
• Foot Locker reported disappointing earnings, with a loss of ($0.27) EPS for the quarter, missing estimates, and a 2.3% decline in revenue year-over-year, leading to discussions about its financial outlook.

Nuveen LLC acquired a new position in Foot Locker, Inc. (NYSE:FL - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 268,789 shares of the athletic footwear retailer's stock, valued at approximately $3,790,000. Nuveen LLC owned 0.28% of Foot Locker at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. raised its position in shares of Foot Locker by 67.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,906,406 shares of the athletic footwear retailer's stock worth $41,483,000 after acquiring an additional 770,932 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Foot Locker by 2.6% during 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 purchasing an additional 30,981 shares during the period. Segall Bryant & Hamill LLC grew its stake in Foot Locker by 26.4% during 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 purchasing an additional 226,111 shares during the period. Northern Trust Corp grew its stake in Foot Locker by 9.1% during the fourth quarter. Northern Trust Corp now owns 982,740 shares of the athletic footwear retailer's stock worth $21,384,000 after purchasing an additional 81,735 shares during the period. Finally, Invesco Ltd. grew its stake in Foot Locker by 10.5% during the first quarter. Invesco Ltd. now owns 905,338 shares of the athletic footwear retailer's stock worth $12,765,000 after purchasing an additional 86,373 shares during the period.

Foot Locker Stock Down 1.4%

FL traded down $0.35 during midday trading on Friday, reaching $24.72. 9,427,716 shares of the company were exchanged, compared to its average volume of 5,146,818. Foot Locker, Inc. has a one year low of $11.00 and a one year high of $31.43. The company's fifty day moving average price is $25.18 and its 200 day moving average price is $20.08. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.49 and a current ratio of 1.59. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -6.13, a price-to-earnings-growth ratio of 2.07 and a beta of 1.75.

Foot Locker (NYSE:FL - Get Free Report) last posted its earnings results 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). Foot Locker had a positive return on equity of 2.92% and a negative net margin of 4.90%.The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the business earned ($0.05) EPS. Foot Locker's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, analysts expect that Foot Locker, Inc. will post 1.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Zacks Research raised Foot Locker from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $24.00 target price on shares of Foot Locker in a research note on Wednesday. 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. JPMorgan Chase & Co. raised Foot Locker from an "underweight" rating to a "neutral" rating and raised their target price for the stock from $16.00 to $24.00 in a research note on Thursday, May 15th. Finally, Wall Street Zen downgraded Foot Locker to a "strong sell" rating in a research note on Saturday. Two research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $21.33.

Insider Buying and Selling at Foot Locker

In other news, CAO Giovanna Cipriano sold 22,383 shares of the 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 directly owned 93,895 shares of the company's stock, valued at $2,337,985.50. This represents a 19.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.89% of the stock is owned by corporate 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.