Bank of New York Mellon Corp Increases Stake in Foot Locker, Inc. (NYSE:FL)

Bank of New York Mellon Corp increased its stake in Foot Locker, Inc. (NYSE:FL - Free Report) by 30.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,429,870 shares of the athletic footwear retailer's stock after purchasing an additional 333,247 shares during the quarter. Bank of New York Mellon Corp owned about 1.51% of Foot Locker worth $31,114,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Moody National Bank Trust Division purchased a new stake in Foot Locker in the 4th quarter worth approximately $610,000. Geode Capital Management LLC raised its position in shares of Foot Locker by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer's stock worth $49,319,000 after buying an additional 25,394 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Foot Locker in the third quarter worth $829,000. Allspring Global Investments Holdings LLC boosted its stake 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 buying an additional 2,500,396 shares during the period. Finally, Versor Investments LP purchased a new position in Foot Locker during the third quarter worth about $793,000.

Wall Street Analysts Forecast Growth

FL has been the subject of a number of research analyst reports. Piper Sandler dropped their price target on Foot Locker from $23.00 to $19.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Guggenheim dropped their target price on shares of Foot Locker from $34.00 to $28.00 and set a "buy" rating for the company in a research report on Thursday, December 5th. Jefferies Financial Group cut their price target on shares of Foot Locker from $22.00 to $19.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. Telsey Advisory Group restated a "market perform" rating and set a $24.00 price objective on shares of Foot Locker in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group dropped their price objective on shares of Foot Locker from $25.00 to $22.00 and set a "sell" rating for the company in a report on Thursday, December 5th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Foot Locker currently has a consensus rating of "Hold" and a consensus target price of $22.81.

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Foot Locker Trading Down 2.9 %

Shares of FL stock traded down $0.47 during mid-day trading on Wednesday, reaching $15.75. The stock had a trading volume of 4,709,852 shares, compared to its average volume of 3,602,223. The firm has a market capitalization of $1.49 billion, a PE ratio of -3.49, a price-to-earnings-growth ratio of 0.53 and a beta of 1.55. The stock's 50-day moving average price is $19.51 and its two-hundred day moving average price is $22.84. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15. Foot Locker, Inc. has a 52-week low of $15.45 and a 52-week high of $33.94.

Foot Locker (NYSE:FL - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.13. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the business earned $0.38 EPS. Foot Locker's revenue was down 5.7% compared to the same quarter last year. Equities analysts expect that Foot Locker, Inc. will post 1.23 earnings per share for the current fiscal year.

Foot Locker Company 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.