Ameriprise Financial Inc. Buys 216,352 Shares of Foot Locker, Inc. (NYSE:FL)

Ameriprise Financial Inc. boosted its position in shares of Foot Locker, Inc. (NYSE:FL) by 66.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 541,659 shares of the athletic footwear retailer’s stock after purchasing an additional 216,352 shares during the period. Ameriprise Financial Inc. owned about 0.57% of Foot Locker worth $11,786,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new position in Foot Locker during the fourth quarter worth $5,473,000. Allspring Global Investments Holdings LLC lifted its position in Foot Locker by 88.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer’s stock worth $115,365,000 after buying an additional 2,500,396 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Foot Locker by 198.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,876 shares of the athletic footwear retailer’s stock worth $63,000 after buying an additional 1,911 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Foot Locker by 140.8% in the 4th quarter. Sei Investments Co. now owns 412,988 shares of the athletic footwear retailer’s stock valued at $8,987,000 after acquiring an additional 241,504 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of Foot Locker by 8.0% in the fourth quarter. Empowered Funds LLC now owns 416,498 shares of the athletic footwear retailer’s stock valued at $9,063,000 after acquiring an additional 30,977 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FL shares. Robert W. Baird upped their target price on Foot Locker from $14.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday. Piper Sandler lowered their price target on Foot Locker from $19.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Telsey Advisory Group reissued a “market perform” rating and issued a $20.00 price objective on shares of Foot Locker in a report on Thursday. The Goldman Sachs Group decreased their target price on shares of Foot Locker from $19.00 to $17.00 and set a “sell” rating for the company in a research note on Tuesday, April 22nd. Finally, Barclays reaffirmed an “equal weight” rating and set a $24.00 price target (up from $14.00) on shares of Foot Locker in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Foot Locker presently has an average rating of “Hold” and a consensus price target of $21.19.

Foot Locker Stock Down 0.3%

Shares of FL opened at $23.84 on Monday. The firm has a market cap of $2.27 billion, a P/E ratio of -5.28, a price-to-earnings-growth ratio of 0.53 and a beta of 1.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67. Foot Locker, Inc. has a 52 week low of $11.00 and a 52 week high of $33.94. The firm’s 50-day simple moving average is $13.73 and its 200 day simple moving average is $18.59.

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