Arrowstreet Capital Limited Partnership Sells 498,347 Shares of Foot Locker, Inc. (NYSE:FL)

Arrowstreet Capital Limited Partnership trimmed its position in Foot Locker, Inc. (NYSE:FL) by 14.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,860,898 shares of the athletic footwear retailer’s stock after selling 498,347 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Foot Locker were worth $62,253,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Foot Locker by 88.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer’s stock valued at $115,365,000 after purchasing an additional 2,500,396 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in Foot Locker in the 4th quarter valued at approximately $18,640,000. Bank of New York Mellon Corp boosted its position in Foot Locker by 30.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,429,870 shares of the athletic footwear retailer’s stock valued at $31,114,000 after buying an additional 333,247 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Foot Locker by 43.3% during the third quarter. Stifel Financial Corp now owns 897,904 shares of the athletic footwear retailer’s stock worth $23,202,000 after buying an additional 271,297 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Foot Locker by 140.8% during the fourth quarter. Sei Investments Co. now owns 412,988 shares of the athletic footwear retailer’s stock worth $8,987,000 after buying an additional 241,504 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FL. Evercore ISI cut their price objective on Foot Locker from $30.00 to $22.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. The Goldman Sachs Group cut their price target on Foot Locker from $25.00 to $22.00 and set a “sell” rating on the stock in a research note on Thursday, December 5th. Jefferies Financial Group reduced their price target on Foot Locker from $22.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. UBS Group dropped their price objective on shares of Foot Locker from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Finally, Piper Sandler reduced their target price on shares of Foot Locker from $23.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Foot Locker currently has a consensus rating of “Hold” and a consensus price target of $22.81.

Foot Locker Stock Performance

Shares of FL opened at $14.18 on Wednesday. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15. The firm’s fifty day simple moving average is $17.90 and its two-hundred day simple moving average is $21.48. Foot Locker, Inc. has a 12 month low of $13.90 and a 12 month high of $33.94. The stock has a market capitalization of $1.35 billion, a P/E ratio of -3.14, a price-to-earnings-growth ratio of 0.53 and a beta of 1.55.

Foot Locker (NYSE:FL) last announced its quarterly earnings data 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. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the business earned $0.38 EPS. The firm’s revenue was down 5.7% compared to the same quarter last year. As a group, analysts predict that Foot Locker, Inc. will post 1.23 EPS for the current year.

Foot Locker Company 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.