Cramer Rosenthal Mcglynn LLC Invests $34.84 Million in Foot Locker, Inc. (NYSE:FL)

Cramer Rosenthal Mcglynn LLC purchased a new stake in Foot Locker, Inc. (NYSE:FL) in the 4th quarter, HoldingsChannel reports. The fund purchased 1,600,863 shares of the athletic footwear retailer’s stock, valued at approximately $34,835,000. Foot Locker comprises approximately 2.0% of Cramer Rosenthal Mcglynn LLC’s holdings, making the stock its 12th largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harbour Investments Inc. grew its stake in Foot Locker by 81.6% during the 4th quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock valued at $31,000 after acquiring an additional 648 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Foot Locker during the fourth quarter valued at approximately $32,000. Wilmington Savings Fund Society FSB acquired a new position in Foot Locker in the 3rd quarter valued at approximately $58,000. R Squared Ltd acquired a new position in Foot Locker in the 4th quarter valued at approximately $50,000. Finally, Sterling Capital Management LLC lifted its position in Foot Locker by 819.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer’s stock worth $57,000 after buying an additional 2,343 shares in the last quarter.

Analyst Ratings Changes

A number of research firms have recently weighed in on FL. StockNews.com downgraded shares of Foot Locker from a “hold” rating to a “sell” rating in a research note on Friday, April 11th. UBS Group lowered their target price on Foot Locker from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Barclays set a $24.00 price target on Foot Locker in a research note on Wednesday, March 5th. Telsey Advisory Group reissued a “market perform” rating and issued a $24.00 price target on shares of Foot Locker in a research note on Wednesday, March 5th. Finally, Piper Sandler cut their price objective on shares of Foot Locker from $19.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Four 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’s stock. According to MarketBeat, Foot Locker currently has an average rating of “Hold” and a consensus target price of $21.69.

Foot Locker Stock Up 6.9 %

FL stock opened at $11.89 on Friday. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -2.64, a price-to-earnings-growth ratio of 0.53 and a beta of 1.41. The company has a 50-day moving average of $15.83 and a two-hundred day moving average of $20.17. Foot Locker, Inc. has a 52-week low of $11.00 and a 52-week high of $33.94. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45.

Foot Locker (NYSE:FL) last announced its earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.13. The firm had revenue of $2.25 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 EPS. As a group, equities research analysts anticipate that Foot Locker, Inc. will post 1.23 EPS 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.