Foot Locker, Inc. (NYSE:FL) Stock Position Decreased by Jennison Associates LLC

Jennison Associates LLC lessened its holdings in Foot Locker, Inc. (NYSE:FL) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 509,424 shares of the athletic footwear retailer’s stock after selling 10,226 shares during the period. Jennison Associates LLC’s holdings in Foot Locker were worth $13,164,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Foot Locker by 326.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 921,273 shares of the athletic footwear retailer’s stock worth $26,256,000 after buying an additional 705,237 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Foot Locker by 23.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer’s stock worth $72,279,000 after buying an additional 557,489 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Foot Locker in the 2nd quarter valued at $10,005,000. Invenomic Capital Management LP raised its holdings in shares of Foot Locker by 54.3% in the first quarter. Invenomic Capital Management LP now owns 752,320 shares of the athletic footwear retailer’s stock valued at $21,441,000 after buying an additional 264,598 shares during the last quarter. Finally, Interval Partners LP acquired a new position in shares of Foot Locker during the first quarter worth approximately $5,700,000.

Analyst Ratings Changes

A number of research analysts have commented on FL shares. Needham & Company LLC began coverage on Foot Locker in a research report on Friday. They issued a “buy” rating and a $27.00 price objective on the stock. Barclays raised Foot Locker from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $27.00 to $34.00 in a report on Thursday, August 29th. Gordon Haskett assumed coverage on shares of Foot Locker in a research note on Monday, October 7th. They issued an “accumulate” rating and a $27.00 target price on the stock. Robert W. Baird cut their price objective on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $30.00 target price on shares of Foot Locker in a report on Friday, August 23rd. Three 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $27.33.

Foot Locker Trading Up 2.9 %

NYSE FL opened at $23.11 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.66 and a quick ratio of 0.49. The stock’s 50-day moving average is $24.55 and its 200-day moving average is $25.74. Foot Locker, Inc. has a one year low of $20.47 and a one year high of $35.60. The firm has a market cap of $2.19 billion, a P/E ratio of -5.97, a P/E/G ratio of 0.66 and a beta of 1.44.

Foot Locker (NYSE:FL) last announced its quarterly earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. Sell-side analysts anticipate that Foot Locker, Inc. will post 1.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Foot Locker

In related news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $33.22, for a total value of $17,911,559.60. Following the completion of the transaction, the insider now owns 10,393,592 shares of the company’s stock, valued at approximately $345,275,126.24. This trade represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

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.