Quantitative Investment Management LLC Acquires 57,767 Shares of Foot Locker, Inc. $FL

Key Points

• Quantitative Investment Management LLC significantly increased its holdings in Foot Locker, acquiring an additional 57,767 shares, raising its ownership by 310.4% to a total of 76,375 shares valued at approximately $1.08 million.
• Several institutional investors have boosted their stakes in Foot Locker recently, with Tower Research Capital LLC seeing the largest increase at 386.3%.
• Foot Locker's stock currently has an average rating of "Hold" and a consensus target price of $21.20, following recent price target adjustments from various analysts.

Quantitative Investment Management LLC raised its holdings in Foot Locker, Inc. (NYSE:FL - Free Report) by 310.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,375 shares of the athletic footwear retailer's stock after buying an additional 57,767 shares during the period. Quantitative Investment Management LLC owned about 0.08% of Foot Locker worth $1,076,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FL. Envestnet Asset Management Inc. increased its stake in shares of Foot Locker by 11.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 19,426 shares of the athletic footwear retailer's stock worth $423,000 after purchasing an additional 2,026 shares during the period. Raymond James Financial Inc. bought a new position in shares of Foot Locker during the fourth quarter worth approximately $1,619,000. Mariner LLC increased its stake in shares of Foot Locker by 12.2% during the fourth quarter. Mariner LLC now owns 29,851 shares of the athletic footwear retailer's stock worth $650,000 after purchasing an additional 3,242 shares during the period. MetLife Investment Management LLC increased its stake in shares of Foot Locker by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 50,919 shares of the athletic footwear retailer's stock worth $1,108,000 after purchasing an additional 2,824 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of Foot Locker by 386.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 23,836 shares of the athletic footwear retailer's stock worth $519,000 after purchasing an additional 18,935 shares during the period.

Insider Buying and Selling at Foot Locker

In other 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 value of $557,336.70. Following the transaction, the chief accounting officer owned 93,895 shares in the company, valued at $2,337,985.50. The trade was a 19.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by insiders.

Analysts Set New Price Targets

FL has been the topic of a number of recent research reports. Robert W. Baird set a $24.00 price objective on Foot Locker in a research note on Thursday, May 29th. Morgan Stanley reduced their target price on Foot Locker from $16.00 to $14.00 and set an "underweight" rating on the stock in a report 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 company from $16.00 to $24.00 in a report on Thursday, May 15th. Citigroup raised their price objective on Foot Locker from $20.00 to $24.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $24.00 price objective on shares of Foot Locker in a report on Friday, May 30th. 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. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $21.20.

Foot Locker Stock Up 2.1%

Shares of FL opened at $26.4150 on Monday. The company has a market capitalization of $2.52 billion, a PE ratio of -7.01, a PEG ratio of 2.21 and a beta of 1.75. Foot Locker, Inc. has a 12 month low of $11.00 and a 12 month high of $33.94. The stock's 50-day moving average price is $25.00 and its two-hundred day moving average price is $19.84. 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 (NYSE:FL - Get Free Report) last issued its earnings results on Thursday, May 29th. The athletic footwear retailer reported ($0.07) EPS for the quarter, meeting analysts' consensus estimates of ($0.07). Foot Locker had a positive return on equity of 3.65% and a negative net margin of 4.54%.The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the company posted $0.22 EPS. The firm's revenue was down 4.6% compared to the same quarter last year. On average, analysts anticipate that Foot Locker, Inc. will post 1.23 EPS for the current year.

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.

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