Quantbot Technologies LP Acquires 16,263 Shares of Foot Locker, Inc. $FL

Key Points

• Quantbot Technologies LP increased its investment in Foot Locker, Inc. by 17.8%, acquiring an additional 16,263 shares, bringing its total holdings to 107,748 shares valued at approximately $1.52 million.
• Wall Street analysts have generally upgraded Foot Locker's stock, with multiple firms setting a new price target of $24.00, indicating a positive outlook despite a recent negative earnings report.
• Foot Locker reported a negative net margin of 4.54% in its latest quarterly results, with earnings per share meeting expectations at ($0.07), while revenue dropped 4.6% compared to the previous year.

Quantbot Technologies LP grew its holdings in Foot Locker, Inc. (NYSE:FL - Free Report) by 17.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,748 shares of the athletic footwear retailer's stock after purchasing an additional 16,263 shares during the quarter. Quantbot Technologies LP owned about 0.11% of Foot Locker worth $1,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Signaturefd LLC lifted its stake 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 valued at $65,000 after purchasing an additional 980 shares during the period. GAMMA Investing LLC lifted 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 purchasing an additional 1,764 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Foot Locker by 3.9% in 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 purchasing an additional 1,786 shares during the period. Investors Research Corp lifted its stake 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 valued at $163,000 after purchasing an additional 1,900 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in Foot Locker by 11.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 19,426 shares of the athletic footwear retailer's stock worth $423,000 after buying an additional 2,026 shares during the period.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Barclays downgraded Foot Locker from an "overweight" rating to an "equal weight" rating in a research note on Thursday, May 29th. JPMorgan Chase & Co. raised 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 note on Thursday, May 15th. 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 price target on shares of Foot Locker in a research note on Wednesday. Finally, Robert W. Baird upped their price target on Foot Locker from $24.00 to $26.00 and gave the stock a "neutral" rating in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $21.33.

Foot Locker Stock Down 5.2%

Shares of Foot Locker stock traded down $1.38 on Thursday, hitting $25.09. The company had a trading volume of 5,408,402 shares, compared to its average volume of 4,650,862. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of -6.64, a P/E/G ratio of 2.21 and a beta of 1.75. 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 stock has a 50 day moving average of $25.14 and a 200-day moving average of $19.99. Foot Locker, Inc. has a 1 year low of $11.00 and a 1 year high of $31.43.

Foot Locker (NYSE:FL - Get Free Report) last released its earnings results on Wednesday, August 27th. The athletic footwear retailer reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.32). The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.87 billion. Foot Locker had a negative net margin of 4.54% and a positive return on equity of 3.65%. The business's revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.05) earnings per share. As a group, sell-side analysts forecast that Foot Locker, Inc. will post 1.23 earnings per share for the current year.

Insider Activity

In other news, CAO Giovanna Cipriano sold 22,383 shares of the company'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 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 $2,337,985.50. This represents 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. 0.89% of the stock is currently owned by corporate insiders.

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.