Foot Locker, Inc. (NYSE:FL) Shares Acquired by Meeder Asset Management Inc.

Meeder Asset Management Inc. lifted its position in shares of Foot Locker, Inc. (NYSE:FL) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,157 shares of the athletic footwear retailer’s stock after purchasing an additional 568 shares during the period. Meeder Asset Management Inc.’s holdings in Foot Locker were worth $1,014,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bremer Bank National Association bought a new stake in shares of Foot Locker in the first quarter worth $26,000. CWM LLC increased its stake in shares of Foot Locker by 264.1% in the first quarter. CWM LLC now owns 477 shares of the athletic footwear retailer’s stock worth $29,000 after buying an additional 346 shares during the last quarter. Investors Research Corp bought a new stake in shares of Foot Locker in the first quarter worth $30,000. Psagot Investment House Ltd. bought a new stake in shares of Foot Locker in the second quarter worth $30,000. Finally, Mckinley Capital Management LLC Delaware bought a new stake in shares of Foot Locker in the first quarter worth $33,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Matthew M. Mckenna sold 7,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $40.53, for a total transaction of $283,710.00. Following the completion of the transaction, the director now owns 26,862 shares of the company’s stock, valued at $1,088,716.86. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.

Several research firms have weighed in on FL. TheStreet lowered shares of Foot Locker from a “b-” rating to a “c+” rating in a research note on Monday, June 17th. Deutsche Bank lowered their target price on shares of Foot Locker from $68.00 to $63.00 and set a “buy” rating for the company in a research note on Monday. B. Riley lowered their target price on shares of Foot Locker from $73.00 to $62.00 and set a “buy” rating for the company in a research note on Monday. Canaccord Genuity lowered their target price on shares of Foot Locker from $82.00 to $81.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Finally, ValuEngine lowered shares of Foot Locker from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company. Foot Locker currently has a consensus rating of “Buy” and a consensus price target of $66.44.

Shares of FL traded up $0.65 during midday trading on Wednesday, hitting $39.86. 643,475 shares of the stock traded hands, compared to its average volume of 4,260,994. Foot Locker, Inc. has a 1-year low of $36.81 and a 1-year high of $68.00. The firm has a market capitalization of $4.35 billion, a PE ratio of 8.46, a price-to-earnings-growth ratio of 0.78 and a beta of 0.98. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.07 and a current ratio of 2.01. The business’s 50 day moving average price is $41.00 and its two-hundred day moving average price is $51.26.

Foot Locker (NYSE:FL) last announced its quarterly earnings results on Friday, May 24th. The athletic footwear retailer reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.08). Foot Locker had a net margin of 6.86% and a return on equity of 21.75%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the firm posted $1.45 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. As a group, equities research analysts forecast that Foot Locker, Inc. will post 5 EPS for the current fiscal year.

Foot Locker Company Profile

Foot Locker, Inc, through its subsidiaries, operates as an athletic shoes and apparel retailer. The company operates in two segments, Athletic Stores and Direct-to-Customers. The Athletic Stores segment retails athletic footwear, apparel, accessories, and equipment under various formats, including Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep, and SIX:02.

Further Reading: Cost of Capital Explained

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Institutional Ownership by Quarter for Foot Locker (NYSE:FL)

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