Foot Locker Announces USD 100 Million Strategic Investment in GOAT Group

Lloyd Doyle
February 10, 2019

This is an increase of 3,431% compared to the average volume of 1,074 call options.

Maurer sold 5,000 shares of the stock in a transaction on Wednesday, November 21st. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a certain period of time. Following the sale, the vice president now directly owns 18,540 shares of the company's stock, valued at $964,080. Another trade for 7,000 shares valued at $355,670 was made by MCKENNA MATTHEW M on Monday, November 19. The stock was sold at an average price of $52.00, for a total transaction of $106,132.00. Following the sale, the director now owns 30,459 shares of the company's stock, valued at $1,547,621.79. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,082 shares of company stock worth $832,934.

Hedge funds have recently modified their holdings of the business. The firm owned 123,208 shares of the athletic footwear retailer's stock after acquiring an additional 919 shares during the period. Raymond James & Associates now owns 45,097 shares of the athletic footwear retailer's stock worth $2,374,000 after buying an additional 6,147 shares during the last quarter. Wedbush Securities Inc. grew its holdings in shares of Foot Locker by 4.7% in the fourth quarter. Scout Investments Inc. grew its position in Foot Locker by 1.7% during the fourth quarter. Neuberger Berman Group LLC bought a new stake in shares of Foot Locker during the third quarter worth approximately $37,272,000. (NYSE:FL). Winslow Evans Crocker invested in 1,758 shares or 0.03% of the stock.

NYSE:FL traded down $0.08 during midday trading on Friday, hitting $56.49. Moreover, New Mexico Educational Retirement Board has 0.02% invested in Foot Locker, Inc. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.42 and a quick ratio of 1.54. The company's market cap is $6.37 Billion, and the average volume is 2.86 Million. (NYSE:FL)'s quarterly earnings on March, 1., RTT reports. The athletic footwear retailer reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.03. However it has a net margin of 4.20%. The high and low revenue estimates for the current quarter are $2.09 Billion and $2.03 Billion, respectively. During the same quarter in the prior year, the business posted $0.87 EPS.

The funding is the latest move by Foot Locker to ramp up its digital footprint.

The investment is to help GOAT Group accelerate its global operations through expansion of its omnichannel experience and innovative technologies, Foot Locker said.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 1st. - Motley Fool" with publication date: "January 19, 2019. This represents a $1.38 annualized dividend and a dividend yield of 2.44%. Kennedy Capital Mngmt has invested 0.2% in Foot Locker, Inc.

FL has been the subject of a number of recent research reports. Jefferies maintained the shares of FL in report on Wednesday, November 21 with "Buy" rating.

Foot Locker (NYSE:FL)'s stock had its "hold" rating reaffirmed by Cowen in a research report issued to clients and investors on Wednesday. Canaccord Genuity maintained the stock with "Buy" rating in Monday, August 27 report. Finally, Citigroup increased their price target on Foot Locker from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, November 21st. Investors, especially technical analysts, may use the 52 week range to gauge whether a stock's current price suggests buying, selling, or taking no-action. Foot Locker now has a consensus rating of "Buy" and a consensus target price of $58.44. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of U.S. and global trademark and copyright laws.

The $6.3 billion retailer announced Thursday it is sinking a $100 million minority investment into 1661 Inc., better known as Goat. The company operates in two segments, Athletic Stores and Direct-to-Customers.

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