US Bancorp DE Cuts Stake in Foot Locker, Inc. (NYSE:FL)

US Bancorp DE reduced its stake in Foot Locker, Inc. (NYSE:FL) by 9.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 28,444 shares of the athletic footwear retailer’s stock after selling 2,999 shares during the quarter. US Bancorp DE’s holdings in Foot Locker were worth $619,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings in Foot Locker by 88.6% during the fourth 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 during the last quarter. Geode Capital Management LLC lifted its holdings in Foot Locker by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock valued at $49,319,000 after purchasing an additional 25,394 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Foot Locker by 30.4% during 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 purchasing an additional 333,247 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Foot Locker by 10.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,135,474 shares of the athletic footwear retailer’s stock valued at $29,341,000 after purchasing an additional 106,402 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Foot Locker by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,113,583 shares of the athletic footwear retailer’s stock valued at $28,775,000 after purchasing an additional 38,318 shares during the last quarter.

Wall Street Analysts Forecast Growth

FL has been the topic of several recent research reports. UBS Group dropped their price objective on shares of Foot Locker from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Robert W. Baird decreased their price target on Foot Locker from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Jefferies Financial Group decreased their price target on Foot Locker from $22.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. The Goldman Sachs Group decreased their price target on Foot Locker from $25.00 to $22.00 and set a “sell” rating on the stock in a research report on Thursday, December 5th. Finally, Guggenheim decreased their price target on Foot Locker from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.81.

Foot Locker Trading Down 5.6 %

Shares of FL opened at $16.22 on Wednesday. The firm’s 50 day simple moving average is $19.51 and its 200 day simple moving average is $22.84. The company has a market capitalization of $1.54 billion, a P/E ratio of -3.60, a P/E/G ratio of 0.53 and a beta of 1.55. 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, Inc. has a 1-year low of $15.89 and a 1-year high of $33.94.

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 analysts’ consensus estimates of $0.73 by $0.13. The business had revenue of $2.25 billion for 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%. Foot Locker’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period last year, the firm posted $0.38 earnings per share. Sell-side analysts forecast 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.