Foot Locker, Inc. $FL Shares Acquired by Quantitative Investment Management LLC

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 stake in Foot Locker, Inc. (NYSE:FL - Free Report) by 310.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,375 shares of the athletic footwear retailer's stock after purchasing an additional 57,767 shares during the quarter. Quantitative Investment Management LLC owned about 0.08% of Foot Locker worth $1,076,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in FL. Jacobs Levy Equity Management Inc. boosted its holdings 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 valued at $41,483,000 after purchasing an additional 770,932 shares during the last quarter. Jump Financial LLC lifted its holdings in shares of Foot Locker by 691.4% during the 1st quarter. Jump Financial LLC now owns 472,118 shares of the athletic footwear retailer's stock valued at $6,657,000 after acquiring an additional 412,461 shares in the last quarter. Voloridge Investment Management LLC lifted its holdings in shares of Foot Locker by 66.8% during the 4th quarter. Voloridge Investment Management LLC now owns 737,299 shares of the athletic footwear retailer's stock valued at $16,044,000 after acquiring an additional 295,243 shares in the last quarter. Bayberry Capital Partners LP acquired a new position in shares of Foot Locker during the 4th quarter valued at $6,352,000. Finally, American Century Companies Inc. lifted its holdings in shares of Foot Locker by 17.0% during the 1st quarter. American Century Companies Inc. now owns 1,940,528 shares of the athletic footwear retailer's stock valued at $27,361,000 after acquiring an additional 281,322 shares in the last quarter.

Wall Street Analysts Forecast Growth

FL has been the topic of several recent research reports. Telsey Advisory Group restated a "market perform" rating and set a $24.00 target price on shares of Foot Locker in a report on Wednesday. Barclays lowered shares of Foot Locker from an "overweight" rating to an "equal weight" rating in a report on Thursday, May 29th. Zacks Research upgraded shares of Foot Locker from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. JPMorgan Chase & Co. upgraded shares of Foot Locker from an "underweight" rating to a "neutral" rating and lifted their target price for the company from $16.00 to $24.00 in a report on Thursday, May 15th. Finally, Wall Street Zen lowered shares of Foot Locker to a "strong sell" rating in a report on Saturday. Two analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Foot Locker has a consensus rating of "Hold" and an average target price of $21.33.

Foot Locker Stock Down 1.4%

FL stock traded down $0.35 during trading on Friday, reaching $24.72. The stock had a trading volume of 9,427,716 shares, compared to its average volume of 5,146,818. Foot Locker, Inc. has a 1-year low of $11.00 and a 1-year high of $31.43. 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 company has a market capitalization of $2.36 billion, a P/E ratio of -6.13, a PEG ratio of 2.07 and a beta of 1.75. The firm has a fifty day moving average price of $25.18 and a 200 day moving average price of $20.08.

Foot Locker (NYSE:FL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 27th. The athletic footwear retailer reported ($0.27) EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the firm earned ($0.05) EPS. The business's quarterly revenue was down 2.3% compared to the same quarter last year. On average, equities analysts anticipate 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 dated Tuesday, July 1st. The shares were sold at an average price of $24.90, for a total value of $557,336.70. Following the sale, the chief accounting officer owned 93,895 shares in the company, valued at approximately $2,337,985.50. This represents a 19.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.89% of the company's stock.

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.