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

Arrowstreet Capital Limited Partnership trimmed its position in shares of Foot Locker, Inc. (NYSE:FL - Free Report) by 14.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,860,898 shares of the athletic footwear retailer's stock after selling 498,347 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 3.01% of Foot Locker worth $62,253,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harbour Investments Inc. increased its stake in shares of Foot Locker by 81.6% in the 4th quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer's stock worth $31,000 after acquiring an additional 648 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Foot Locker by 32.5% during the third 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 in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Foot Locker by 198.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,876 shares of the athletic footwear retailer's stock valued at $63,000 after purchasing an additional 1,911 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Foot Locker in the 3rd quarter worth approximately $58,000. Finally, R Squared Ltd purchased a new stake in shares of Foot Locker in the 4th quarter worth approximately $50,000.

Foot Locker Stock Performance

FL traded up $0.20 during mid-day trading on Friday, reaching $12.65. 10,966,433 shares of the company traded hands, compared to its average volume of 3,364,406. The company's fifty day moving average price is $17.44 and its 200-day moving average price is $21.19. The stock has a market capitalization of $1.20 billion, a P/E ratio of -2.80, a P/E/G ratio of 0.53 and a beta of 1.41. 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, Inc. has a 52-week low of $11.31 and a 52-week high of $33.94.

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Foot Locker (NYSE:FL - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.13. The company had revenue of $2.25 billion during the quarter, compared to analysts' expectations of $2.32 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. Foot Locker'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 business earned $0.38 earnings per share. On average, sell-side analysts expect that Foot Locker, Inc. will post 1.23 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FL shares. Barclays set a $24.00 price objective on Foot Locker in a research note on Wednesday, March 5th. UBS Group reduced their price target on Foot Locker from $22.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, March 6th. Needham & Company LLC reiterated a "buy" rating and issued a $24.00 price target on shares of Foot Locker in a research note on Wednesday, March 5th. Piper Sandler reduced their price objective on shares of Foot Locker from $23.00 to $19.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th. Finally, StockNews.com raised shares of Foot Locker from a "sell" rating to a "hold" rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Foot Locker has a consensus rating of "Hold" and a consensus price target of $22.81.

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.