Allspring Global Investments Holdings LLC Buys 2,500,396 Shares of Foot Locker, Inc. (NYSE:FL)

Allspring Global Investments Holdings LLC boosted its position in Foot Locker, Inc. (NYSE:FL - Free Report) by 88.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,323,597 shares of the athletic footwear retailer's stock after buying an additional 2,500,396 shares during the period. Allspring Global Investments Holdings LLC owned approximately 5.61% of Foot Locker worth $115,365,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in Foot Locker in the 3rd quarter valued at about $47,000. R Squared Ltd acquired a new position in Foot Locker during the 4th quarter valued at about $50,000. Wilmington Savings Fund Society FSB acquired a new position in Foot Locker during the 3rd quarter valued at about $58,000. Blue Trust Inc. boosted its stake in Foot Locker by 537.0% during the 3rd quarter. Blue Trust Inc. now owns 2,981 shares of the athletic footwear retailer's stock valued at $74,000 after purchasing an additional 2,513 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in Foot Locker by 32.5% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,267 shares of the athletic footwear retailer's stock valued at $84,000 after purchasing an additional 801 shares during the last quarter.

Foot Locker Price Performance

NYSE:FL traded up $0.47 during midday trading on Friday, hitting $20.30. The company had a trading volume of 2,802,987 shares, compared to its average volume of 2,623,720. Foot Locker, Inc. has a 52-week low of $18.04 and a 52-week high of $35.60. The stock's fifty day moving average price is $20.87 and its 200-day moving average price is $24.34. The company has a market capitalization of $1.93 billion, a PE ratio of -4.50, a P/E/G ratio of 0.53 and a beta of 1.48. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL - Get Free Report) last announced its earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.07). Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The company had revenue of $1.96 billion during the quarter, compared to analysts' expectations of $2.01 billion. During the same quarter last year, the firm posted $0.30 earnings per share. The firm's revenue was down 1.4% on a year-over-year basis. As a group, research analysts expect that Foot Locker, Inc. will post 1.23 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley cut their price target on Foot Locker from $17.00 to $16.00 and set an "underweight" rating for the company in a research note on Friday, December 6th. Robert W. Baird cut their price target on Foot Locker from $27.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, December 5th. Telsey Advisory Group cut their price target on Foot Locker from $30.00 to $24.00 and set a "market perform" rating for the company in a research note on Thursday, December 5th. Needham & Company LLC cut their target price on Foot Locker from $25.00 to $24.00 and set a "buy" rating on the stock in a research note on Friday, January 24th. Finally, Barclays cut their target price on Foot Locker from $34.00 to $29.00 and set an "overweight" rating on the stock in a research note on Friday, December 6th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Foot Locker has a consensus rating of "Hold" and a consensus price target of $24.94.

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.