Jennison Associates LLC Buys 130,927 Shares of Foot Locker, Inc. (NYSE:FL)

Jennison Associates LLC grew its stake in shares of Foot Locker, Inc. (NYSE:FL) by 25.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 640,351 shares of the athletic footwear retailer’s stock after acquiring an additional 130,927 shares during the quarter. Jennison Associates LLC’s holdings in Foot Locker were worth $13,934,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Moody National Bank Trust Division bought a new stake in shares of Foot Locker in the 4th quarter worth $610,000. Geode Capital Management LLC boosted its position in shares of Foot Locker by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock valued at $49,319,000 after buying an additional 25,394 shares during the last quarter. Intech Investment Management LLC bought a new stake in Foot Locker in the 3rd quarter worth about $829,000. Versor Investments LP purchased a new position in Foot Locker in the 3rd quarter worth about $793,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Foot Locker by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,113,583 shares of the athletic footwear retailer’s stock valued at $28,775,000 after acquiring an additional 38,318 shares during the period.

Foot Locker Stock Performance

Shares of NYSE FL opened at $19.28 on Thursday. The stock has a market cap of $1.83 billion, a PE ratio of -4.27, a price-to-earnings-growth ratio of 0.79 and a beta of 1.48. Foot Locker, Inc. has a 1 year low of $18.62 and a 1 year high of $35.60. The firm has a fifty day moving average price of $21.47 and a 200-day moving average price of $24.73. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45.

Foot Locker (NYSE:FL) last issued its quarterly earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the company posted $0.30 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. Equities analysts anticipate that Foot Locker, Inc. will post 1.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FL shares. Barclays reduced their price target on shares of Foot Locker from $34.00 to $29.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Telsey Advisory Group decreased their target price on shares of 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. JPMorgan Chase & Co. dropped their price target on Foot Locker from $23.00 to $20.00 and set an “underweight” rating on the stock in a research note on Friday, January 24th. Evercore ISI reduced their price objective on Foot Locker from $38.00 to $32.00 and set an “outperform” rating for the company in a research report on Tuesday, November 26th. Finally, Guggenheim dropped their target price on Foot Locker from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Four 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, the stock has an average rating of “Hold” and an average 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.