IFP Advisors Inc Cuts Stake in Foot Locker, Inc. (NYSE:FL)

IFP Advisors Inc lessened its position in shares of Foot Locker, Inc. (NYSE:FL) by 15.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,948 shares of the athletic footwear retailer’s stock after selling 890 shares during the quarter. IFP Advisors Inc’s holdings in Foot Locker were worth $108,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Moody National Bank Trust Division purchased a new position in Foot Locker during the 4th quarter valued at approximately $610,000. Geode Capital Management LLC grew its holdings in Foot Locker by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock valued at $49,319,000 after buying an additional 25,394 shares in the last quarter. Intech Investment Management LLC purchased a new position in Foot Locker during the 3rd quarter valued at approximately $829,000. Allspring Global Investments Holdings LLC grew its holdings 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 valued at $115,365,000 after buying an additional 2,500,396 shares in the last quarter. Finally, Versor Investments LP bought a new stake in shares of Foot Locker in the 3rd quarter valued at approximately $793,000.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FL. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $24.00 price objective on shares of Foot Locker in a research note on Tuesday, February 25th. Evercore ISI lowered their price objective on Foot Locker from $30.00 to $22.00 and set an “outperform” rating for the company in a research note on Monday. Barclays lowered their price objective on Foot Locker from $34.00 to $29.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. JPMorgan Chase & Co. lowered their price objective on Foot Locker from $23.00 to $20.00 and set an “underweight” rating for the company in a research note on Friday, January 24th. Finally, The Goldman Sachs Group lowered their price objective on Foot Locker from $25.00 to $22.00 and set a “sell” rating for the company in a research note on Thursday, December 5th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $24.35.

Foot Locker Trading Down 2.8 %

Shares of NYSE FL opened at $17.39 on Wednesday. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $19.98 and a two-hundred day simple moving average of $23.37. The firm has a market cap of $1.65 billion, a PE ratio of -3.85, a price-to-earnings-growth ratio of 0.53 and a beta of 1.48. Foot Locker, Inc. has a twelve month low of $16.92 and a twelve month high of $34.71.

Foot Locker (NYSE:FL) last issued its earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.01 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 1.4% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. Analysts expect that Foot Locker, Inc. will post 1.23 earnings per share for the current fiscal year.

About Foot Locker

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.