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Foot Locker, Inc. Q1 Earnings Miss The Mark, As Margins Fall

19 May 2017

FMR LLC now owns 7,218,272 shares of the textile maker's stock valued at $511,703,000 after buying an additional 509,160 shares during the period. State Street Corp now owns 6,167,116 shares of the textile maker's stock worth $461,353,000 after buying an additional 105,750 shares during the last quarter. Nordea Investment Management AB now owns 2,956,033 shares of the textile maker's stock worth $200,183,000 after buying an additional 84,619 shares during the period. Boston Advisors LLC increased its stake in shares of Foot Locker by 5.4% in the third quarter.

Institutional investors own 95.30% of the company's stock.

TRADEMARK VIOLATION NOTICE: "Foot Locker, Inc". Insiders sold a total of 35,000 shares of company stock valued at $2,686,090 in the last 90 days. More interesting news about Foot Locker, Inc.

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During the latest trading session Foot Locker, Inc. 1,317,494 shares of the stock were exchanged. After a recent look, shares have been seen 0.58% from the 200-day moving average, and -5.40% from the 50-day moving average. The market capitalization of the company is at $9.36 Billion.

Foot Locker and Deere are scheduled to post their respective first quarter of the fiscal year 2017 (1QFY17) and 2QFY17 financial results before Friday, May 19 opening bell. February is typically one of the biggest months of the year for Foot Locker, but a lag in consumers receiving their tax refunds hampered results, the New York-based company said. Eight analysts surveyed by Zacks expected $2.02 billion. Foot Locker had a net margin of 8.26% and a return on equity of 24.22%.

Foot Locker's stock was falling more than 16 percent shortly after market open, following the report. According to Thomson Reuters, sell-side analysts are predicting a consensus target price of $46.62 on company stock.

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Heading into the earnings release, covering analysts have a consensus target price of $82.95 on Foot Locker, Inc. shares.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Thursday, April 13th were issued a dividend of $0.31 per share. -Revenue Change (Y-o-Y): 0.5%. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.75%. The stock of Foot Locker, Inc. Deutsche Bank initiated the shares of FL in report on Thursday, September 17 with "Buy" rating. Shares are trading -10.06% away from the 52-week high mark of $78.78 and +41.59% far from the 52-week bottom of $50.05. Canaccord Genuity restated a "buy" rating and set a $83.00 price objective on shares of Foot Locker in a report on Monday, January 23rd. Five analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. The year-to-date (YTD) performance reflected 0.78% positive outlook. And the values below 20 that it is oversold indicate prices could very well bounce upwards. Foot Locker CFO Lauren Peters says that the company is working aggressively to implement opportunities that will lower its expenses. The stock was sold at an average price of $77.51, for a total transaction of $1,937,750.00. The disclosure for this sale can be found here.

The Gap, Inc (GPS), the apparel, accessories and personal care products retailer stated sale in the first-quarter ending in April were almost flat from a year ago at $3.4 billion. The Firm operates through two divisions: Athletic Stores and Direct-to-Customers. Apart from these, there are 62 franchised Foot Locker stores in South Korea and the Middle East. Germany has 15 franchised Runners Point stores.

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Foot Locker, Inc. Q1 Earnings Miss The Mark, As Margins Fall