Public Sector Pension Investment Board Acquires 56,209 Shares of Foot Locker, Inc. $FL

Key Points

• The Public Sector Pension Investment Board increased its stake in Foot Locker, Inc. by 27.3% during the first quarter, owning approximately $3.69 million worth of shares.
• A number of analysts have adjusted their price targets for Foot Locker, with the average target now at $21.20, reflecting a consensus rating of "Hold".
• Foot Locker reported earnings of ($0.07) per share for the last quarter, meeting analysts' expectations, but the revenue was 4.6% down year-over-year at $1.79 billion.

Public Sector Pension Investment Board increased its stake in shares of Foot Locker, Inc. (NYSE:FL - Free Report) by 27.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 261,759 shares of the athletic footwear retailer's stock after acquiring an additional 56,209 shares during the quarter. Public Sector Pension Investment Board owned about 0.27% of Foot Locker worth $3,691,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Nuveen LLC bought a new stake in Foot Locker in the 1st quarter valued at $3,790,000. Invesco Ltd. boosted its stake in shares of Foot Locker by 10.5% in the 1st quarter. Invesco Ltd. now owns 905,338 shares of the athletic footwear retailer's stock valued at $12,765,000 after purchasing an additional 86,373 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Foot Locker by 40.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 108,776 shares of the athletic footwear retailer's stock worth $1,534,000 after buying an additional 31,113 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Foot Locker by 2.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,207,430 shares of the athletic footwear retailer's stock worth $17,025,000 after buying an additional 30,981 shares in the last quarter. Finally, US Bancorp DE lifted its position in Foot Locker by 41.2% during the 1st quarter. US Bancorp DE now owns 40,177 shares of the athletic footwear retailer's stock worth $566,000 after buying an additional 11,733 shares in the last quarter.

Foot Locker Stock Up 2.1%

Shares of NYSE FL traded up $0.5550 during midday trading on Friday, reaching $26.4150. The company's stock had a trading volume of 5,108,849 shares, compared to its average volume of 2,954,773. 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 fifty-two week low of $11.00 and a fifty-two week high of $33.94. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of -7.01, a PEG ratio of 2.21 and a beta of 1.75. The stock has a 50 day simple moving average of $25.00 and a 200-day simple moving average of $19.84.

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

Insider Buying and Selling at Foot Locker

In related news, CAO Giovanna Cipriano sold 22,383 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer directly owned 93,895 shares of the company's stock, valued at approximately $2,337,985.50. This trade represents a 19.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.89% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FL shares. Telsey Advisory Group reiterated a "market perform" rating and set a $24.00 price target on shares of Foot Locker in a research report on Friday, May 30th. Gordon Haskett downgraded shares of Foot Locker from a "moderate buy" rating to a "hold" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. upgraded shares of Foot Locker from an "underweight" rating to a "neutral" rating and upped their target price for the company from $16.00 to $24.00 in a research report on Thursday, May 15th. Robert W. Baird set a $24.00 target price on shares of Foot Locker in a research report on Thursday, May 29th. Finally, Citigroup upped their target price on shares of Foot Locker from $20.00 to $24.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Two analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $21.20.

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.