Kestra Investment Management LLC Sells 23,031 Shares of Foot Locker, Inc. (NYSE:FL)

Kestra Investment Management LLC cut its stake in shares of Foot Locker, Inc. (NYSE:FL) by 37.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 38,431 shares of the athletic footwear retailer’s stock after selling 23,031 shares during the period. Kestra Investment Management LLC’s holdings in Foot Locker were worth $836,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its stake in Foot Locker by 88.6% during the 4th 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 acquiring an additional 2,500,396 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Foot Locker by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock valued at $49,319,000 after purchasing an additional 25,394 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Foot Locker by 10.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,135,474 shares of the athletic footwear retailer’s stock valued at $29,341,000 after purchasing an additional 106,402 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of 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 purchasing an additional 38,318 shares during the last quarter. Finally, Stifel Financial Corp increased its position in shares of Foot Locker by 43.3% during the 3rd quarter. Stifel Financial Corp now owns 897,904 shares of the athletic footwear retailer’s stock valued at $23,202,000 after purchasing an additional 271,297 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FL. Guggenheim decreased their target price on Foot Locker from $34.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. JPMorgan Chase & Co. decreased their target price on Foot Locker from $23.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, January 24th. Piper Sandler decreased their target price on Foot Locker from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Telsey Advisory Group decreased their price objective on Foot Locker from $30.00 to $24.00 and set a “market perform” rating for the company in a report on Thursday, December 5th. Finally, Jefferies Financial Group decreased their price objective on Foot Locker from $27.00 to $22.00 and set a “hold” rating for the company in a report on Wednesday, December 4th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.94.

Foot Locker Trading Down 3.6 %

FL stock opened at $19.59 on Wednesday. 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 twelve month low of $18.04 and a twelve month high of $35.60. The stock has a 50-day simple moving average of $20.80 and a two-hundred day simple moving average of $24.23.

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). The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.01 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 EPS. As a group, sell-side analysts predict that Foot Locker, Inc. will post 1.23 EPS for the current year.

Foot Locker 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.