Axxcess Wealth Management LLC Acquires New Position in Foot Locker, Inc. (NYSE:FL)

Axxcess Wealth Management LLC acquired a new stake in shares of Foot Locker, Inc. (NYSE:FL) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 8,000 shares of the athletic footwear retailer’s stock, valued at approximately $228,000.

A number of other hedge funds also recently made changes to their positions in the stock. Quadrant Capital Group LLC lifted its holdings in Foot Locker by 3,004.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,397 shares of the athletic footwear retailer’s stock worth $44,000 after purchasing an additional 1,352 shares in the last quarter. CWM LLC raised its holdings in shares of Foot Locker by 26.7% during the 4th quarter. CWM LLC now owns 1,836 shares of the athletic footwear retailer’s stock worth $57,000 after acquiring an additional 387 shares in the last quarter. Covestor Ltd raised its holdings in shares of Foot Locker by 43,900.0% during the 1st quarter. Covestor Ltd now owns 2,200 shares of the athletic footwear retailer’s stock worth $63,000 after acquiring an additional 2,195 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Foot Locker during the 4th quarter worth approximately $100,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of Foot Locker during the 1st quarter worth approximately $100,000.

Foot Locker Stock Performance

Shares of Foot Locker stock opened at $26.46 on Friday. The stock’s fifty day moving average is $24.80 and its two-hundred day moving average is $25.89. The company has a market capitalization of $2.51 billion, a PE ratio of -6.98, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46. The company has a quick ratio of 0.50, a current ratio of 1.68 and a debt-to-equity ratio of 0.15. Foot Locker, Inc. has a 52 week low of $14.84 and a 52 week high of $35.60.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Thursday, May 30th. The athletic footwear retailer reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.10. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 4.41%. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the company earned $0.70 EPS. The business’s revenue was down 2.8% compared to the same quarter last year. As a group, analysts expect that Foot Locker, Inc. will post 1.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FL shares. Morgan Stanley cut Foot Locker from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $24.00 to $18.00 in a report on Thursday, July 18th. StockNews.com cut Foot Locker from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. Wedbush reaffirmed a “neutral” rating and set a $25.00 price objective on shares of Foot Locker in a report on Wednesday, June 12th. Telsey Advisory Group restated a “market perform” rating and set a $26.00 price target on shares of Foot Locker in a report on Thursday, May 30th. Finally, Barclays increased their price target on Foot Locker from $22.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, May 31st. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.44.

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.