Geode Capital Management LLC Reduces Stake in Foot Locker, Inc. (NYSE:FL)

Geode Capital Management LLC lessened its holdings in shares of Foot Locker, Inc. (NYSE:FL) by 0.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,898,330 shares of the athletic footwear retailer’s stock after selling 9,923 shares during the period. Geode Capital Management LLC owned 2.00% of Foot Locker worth $41,317,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Harbour Investments Inc. lifted its position in shares of Foot Locker by 81.6% during the 4th quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock worth $31,000 after buying an additional 648 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Foot Locker in the third quarter valued at $58,000. R Squared Ltd acquired a new position in Foot Locker in the fourth quarter valued at $50,000. Smartleaf Asset Management LLC boosted its stake in Foot Locker by 198.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,876 shares of the athletic footwear retailer’s stock valued at $63,000 after acquiring an additional 1,911 shares in the last quarter. Finally, Fiduciary Alliance LLC purchased a new position in Foot Locker during the 4th quarter worth approximately $203,000.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FL shares. UBS Group reduced their price objective on Foot Locker from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 price target on shares of Foot Locker in a research report on Wednesday, March 5th. Jefferies Financial Group lowered their price objective on shares of Foot Locker from $22.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $24.00 price objective on shares of Foot Locker in a research note on Wednesday, March 5th. Finally, Piper Sandler lowered their target price on Foot Locker from $19.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $21.69.

Foot Locker Stock Performance

Shares of FL opened at $11.26 on Wednesday. The company has a market capitalization of $1.07 billion, a PE ratio of -2.50, a P/E/G ratio of 0.53 and a beta of 1.41. Foot Locker, Inc. has a 52-week low of $11.08 and a 52-week high of $33.94. The company has a 50-day simple moving average of $16.11 and a 200-day simple moving average of $20.32. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.32 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period last year, the firm earned $0.38 EPS. Equities research analysts predict that Foot Locker, Inc. will post 1.23 earnings per share for the current fiscal year.

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.