Vident Advisory LLC Makes New $285,000 Investment in Foot Locker, Inc. $FL

Key Points

• Vident Advisory LLC made a new investment in Foot Locker, acquiring 20,187 shares valued at approximately $285,000 in the first quarter.
• Foot Locker's recent earnings report revealed a loss of ($0.27) earnings per share, missing the consensus estimate by ($0.32), and a revenue of $1.86 billion, slightly below expectations.
• Equity analysts have mixed ratings on Foot Locker, with some maintaining a "hold" rating while others have issued a "strong sell" rating, contributing to an average target price of $21.33.

Vident Advisory LLC bought a new position in Foot Locker, Inc. (NYSE:FL - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 20,187 shares of the athletic footwear retailer's stock, valued at approximately $285,000.

A number of other hedge funds and other institutional investors have also modified their holdings of FL. American Century Companies Inc. raised its holdings in Foot Locker by 17.0% in the 1st quarter. American Century Companies Inc. now owns 1,940,528 shares of the athletic footwear retailer's stock worth $27,361,000 after acquiring an additional 281,322 shares during the period. Cramer Rosenthal Mcglynn LLC boosted its position in shares of Foot Locker by 8.5% during the 1st quarter. Cramer Rosenthal Mcglynn LLC now owns 1,736,845 shares of the athletic footwear retailer's stock valued at $24,490,000 after acquiring an additional 135,982 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of 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 valued at $17,025,000 after acquiring an additional 30,981 shares in the last quarter. Segall Bryant & Hamill LLC lifted its holdings in Foot Locker by 26.4% during the 1st quarter. Segall Bryant & Hamill LLC now owns 1,082,713 shares of the athletic footwear retailer's stock valued at $15,266,000 after purchasing an additional 226,111 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Foot Locker by 9.1% during the 4th quarter. Northern Trust Corp now owns 982,740 shares of the athletic footwear retailer's stock valued at $21,384,000 after purchasing an additional 81,735 shares during the last quarter.

Foot Locker Price Performance

Shares of FL opened at $24.03 on Wednesday. The firm has a market capitalization of $2.30 billion, a PE ratio of -5.96, a PEG ratio of 2.17 and a beta of 1.79. The company's 50-day moving average is $25.16 and its 200-day moving average is $20.31. Foot Locker, Inc. has a fifty-two week low of $11.00 and a fifty-two week high of $29.24. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.59 and a quick ratio of 0.45.

Foot Locker (NYSE:FL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 27th. The athletic footwear retailer reported ($0.27) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.32). The company 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 4.90% and a positive return on equity of 2.92%. Foot Locker's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) earnings per share. Equities analysts forecast that Foot Locker, Inc. will post 1.23 EPS for the current year.

Insider Activity

In related news, President Franklin Bracken sold 14,922 shares of the company's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $24.50, for a total value of $365,589.00. Following the transaction, the president directly owned 213,496 shares in the company, valued at approximately $5,230,652. This represents a 6.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $557,336.70. Following the completion of the transaction, the chief accounting officer owned 93,895 shares in the company, valued at $2,337,985.50. This trade represents a 19.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. 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 note on Thursday, August 28th. Wall Street Zen cut shares of Foot Locker to a "strong sell" rating in a report on Saturday, August 30th. Citigroup upped their price target on shares of Foot Locker from $20.00 to $24.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Gordon Haskett cut shares of Foot Locker from a "moderate buy" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Needham & Company LLC restated a "hold" rating on shares of Foot Locker in a report on Wednesday, August 27th. Two analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Foot Locker has an average rating of "Hold" and an average 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.

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