Blueshift Asset Management LLC Takes $381,000 Position in Foot Locker, Inc. (NYSE:FL)

Blueshift Asset Management LLC purchased a new stake in shares of Foot Locker, Inc. (NYSE:FL) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 17,509 shares of the athletic footwear retailer’s stock, valued at approximately $381,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FL. Harbour Investments Inc. lifted its holdings in shares of Foot Locker by 81.6% during the fourth quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock valued at $31,000 after purchasing an additional 648 shares in the last quarter. R Squared Ltd bought a new position in Foot Locker in the fourth quarter valued at about $50,000. Wilmington Savings Fund Society FSB bought a new position in Foot Locker in the third quarter valued at about $58,000. Smartleaf Asset Management LLC lifted its holdings in Foot Locker by 198.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,876 shares of the athletic footwear retailer’s stock valued at $63,000 after acquiring an additional 1,911 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in Foot Locker by 32.5% in 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 acquiring an additional 801 shares during the period.

Analysts Set New Price Targets

A number of research analysts have weighed in on FL shares. Needham & Company LLC reissued a “buy” rating and issued a $24.00 target price on shares of Foot Locker in a report on Wednesday, March 5th. Williams Trading raised Foot Locker from a “sell” rating to a “hold” rating and increased their target price for the company from $17.00 to $21.00 in a report on Wednesday, November 27th. Piper Sandler lowered their target price on Foot Locker from $23.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Morgan Stanley lowered their target price on Foot Locker from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, December 6th. Finally, Barclays set a $24.00 price objective on Foot Locker in a research note on Wednesday, March 5th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $22.81.

Foot Locker Stock Performance

NYSE:FL opened at $16.07 on Friday. 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 12-month low of $14.98 and a 12-month high of $33.94. The stock has a 50-day moving average price of $18.79 and a 200 day moving average price of $22.21. The stock has a market capitalization of $1.53 billion, a P/E ratio of -3.56, a P/E/G ratio of 0.53 and a beta of 1.55.

Foot Locker (NYSE:FL) last released its earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter last year, the business posted $0.38 earnings per share. The firm’s revenue was down 5.7% on a year-over-year basis. Equities research analysts forecast that Foot Locker, Inc. will post 1.23 EPS for the current fiscal year.

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.