Russell Investments Group Ltd. Lowers Holdings in Foot Locker, Inc. $FL

Key Points

• Russell Investments Group Ltd. has reduced its stake in Foot Locker, Inc. by 39.2%, selling 77,590 shares and now owns approximately 0.13% of the company worth $1,696,000.
• Despite the stake reduction by Russell, other institutional investors like Envestnet Asset Management and Tower Research Capital have increased their holdings significantly in Foot Locker during the same period.
• Equities research analysts have given Foot Locker a consensus "Hold" rating with a target price of $21.20, while recent performance shows a revenue decrease of 4.6% compared to last year.

Russell Investments Group Ltd. lessened its holdings in shares of Foot Locker, Inc. (NYSE:FL - Free Report) by 39.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 120,309 shares of the athletic footwear retailer's stock after selling 77,590 shares during the period. Russell Investments Group Ltd. owned 0.13% of Foot Locker worth $1,696,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in Foot Locker by 250.6% in the first quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer's stock valued at $35,000 after buying an additional 1,764 shares during the period. Signaturefd LLC raised its holdings in shares of Foot Locker by 27.2% during the first 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. One68 Global Capital LLC acquired a new position in shares of Foot Locker during the fourth quarter valued at about $239,000. Investors Research Corp raised its holdings in shares of Foot Locker by 19.7% during the first 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, Teacher Retirement System of Texas acquired a new position in shares of Foot Locker during the first quarter valued at about $176,000.

Insider Activity at Foot Locker

In other Foot Locker 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 value of $557,336.70. Following the sale, the chief accounting officer directly owned 93,895 shares in the company, valued at $2,337,985.50. This represents a 19.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.89% of the company's stock.

Foot Locker Stock Performance

Shares of FL stock traded down $0.35 during trading on Friday, reaching $24.72. 9,427,716 shares of the company's stock traded hands, compared to its average volume of 5,146,818. 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 company has a current ratio of 1.59, a quick ratio of 0.49 and a debt-to-equity ratio of 0.17. The firm's 50-day moving average is $25.18 and its 200 day moving average is $20.08. 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 announced its quarterly earnings results 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). The business had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.87 billion. Foot Locker had a negative net margin of 4.90% and a positive return on equity of 2.92%. The business's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Equities research analysts expect that Foot Locker, Inc. will post 1.23 EPS for the current year.

Wall Street Analyst Weigh In

FL has been the subject of several recent research reports. Citigroup boosted their target price on shares of Foot Locker from $20.00 to $24.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. raised shares of Foot Locker from an "underweight" rating to a "neutral" rating and boosted their target price for the stock from $16.00 to $24.00 in a research report on Thursday, May 15th. Robert W. Baird boosted their target price on shares of Foot Locker from $24.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday. Barclays downgraded shares of Foot Locker from an "overweight" rating to an "equal weight" rating in a research report on Thursday, May 29th. Finally, Gordon Haskett downgraded shares of Foot Locker from a "moderate buy" rating to a "hold" rating in a research report on Thursday, May 15th. Two equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Foot Locker currently has an average rating of "Hold" and a consensus target price of $21.33.

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.