Kovitz Investment Group Partners LLC cut its stake in shares of Foot Locker, Inc. (NYSE:FL - Free Report) by 41.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 73,219 shares of the athletic footwear retailer's stock after selling 51,229 shares during the period. Kovitz Investment Group Partners LLC owned about 0.08% of Foot Locker worth $1,857,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC grew its position in Foot Locker by 3.1% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 14,235 shares of the athletic footwear retailer's stock valued at $355,000 after buying an additional 431 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Foot Locker by 1.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 41,541 shares of the athletic footwear retailer's stock valued at $1,035,000 after acquiring an additional 483 shares during the period. Arizona State Retirement System increased its stake in shares of Foot Locker by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 23,808 shares of the athletic footwear retailer's stock worth $593,000 after purchasing an additional 518 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in Foot Locker by 2.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 27,671 shares of the athletic footwear retailer's stock worth $690,000 after purchasing an additional 667 shares during the period. Finally, Fifth Third Bancorp raised its holdings in Foot Locker by 116.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer's stock worth $34,000 after purchasing an additional 733 shares during the period.
Foot Locker Price Performance
NYSE FL traded up $0.24 during trading on Wednesday, hitting $21.88. 2,226,427 shares of the stock traded hands, compared to its average volume of 3,375,639. 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 12-month low of $19.33 and a 12-month high of $35.60. The firm has a 50-day simple moving average of $23.73 and a 200-day simple moving average of $25.84. The company has a market capitalization of $2.08 billion, a P/E ratio of -4.80, a price-to-earnings-growth ratio of 0.87 and a beta of 1.46.
Foot Locker (NYSE:FL - Get Free Report) last posted 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 business had revenue of $1.96 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the business posted $0.30 earnings per share. As a group, analysts predict that Foot Locker, Inc. will post 1.23 EPS for the current year.
Wall Street Analyst Weigh In
FL has been the subject of several recent research reports. StockNews.com lowered Foot Locker from a "hold" rating to a "sell" rating in a report on Friday, September 20th. Piper Sandler reduced their target price on shares of Foot Locker from $30.00 to $28.00 and set a "neutral" rating for the company in a report on Monday, December 2nd. Telsey Advisory Group decreased their target price on shares of Foot Locker from $30.00 to $24.00 and set a "market perform" rating on the stock in a research note on Thursday, December 5th. Morgan Stanley dropped their price target on shares of Foot Locker from $17.00 to $16.00 and set an "underweight" rating for the company in a research report on Friday, December 6th. Finally, Needham & Company LLC restated a "buy" rating and set a $27.00 price objective on shares of Foot Locker in a research report on Wednesday, December 4th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $25.29.
Check Out Our Latest Stock Report on Foot Locker
About Foot Locker
(
Free Report)
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.
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