Louisiana State Employees Retirement System Takes $1.28 Million Position in Foot Locker, Inc. (NYSE:FL)

Louisiana State Employees Retirement System purchased a new stake in Foot Locker, Inc. (NYSE:FL) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 41,000 shares of the athletic footwear retailer’s stock, valued at approximately $1,277,000.

Several other hedge funds and other institutional investors have also modified their holdings of FL. Friedenthal Financial bought a new stake in Foot Locker in the 4th quarter valued at about $753,000. Vaughan Nelson Investment Management L.P. bought a new stake in Foot Locker in the 4th quarter valued at about $20,717,000. International Assets Investment Management LLC bought a new stake in Foot Locker in the 4th quarter valued at about $100,000. Strategic Advisors LLC bought a new stake in Foot Locker in the 4th quarter valued at about $234,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Foot Locker in the 4th quarter valued at about $211,000.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Evercore ISI upgraded shares of Foot Locker from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $28.00 to $32.00 in a research report on Monday, March 25th. Guggenheim dropped their price target on shares of Foot Locker from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, March 7th. Piper Sandler dropped their price target on shares of Foot Locker from $37.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, March 7th. StockNews.com upgraded shares of Foot Locker from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Telsey Advisory Group restated a “market perform” rating and set a $28.00 price target (down from $38.00) on shares of Foot Locker in a research report on Thursday, March 7th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Foot Locker presently has a consensus rating of “Hold” and a consensus target price of $24.94.

Foot Locker Stock Performance

Shares of FL opened at $21.55 on Tuesday. The firm’s 50 day moving average is $26.93 and its 200-day moving average is $26.37. The stock has a market capitalization of $2.04 billion, a P/E ratio of -6.16, a P/E/G ratio of 0.52 and a beta of 1.43. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.72 and a quick ratio of 0.55. Foot Locker, Inc. has a 12-month low of $14.84 and a 12-month high of $42.79.

Foot Locker (NYSE:FL) last released its earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. The business had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.28 billion. Foot Locker had a negative net margin of 4.04% and a positive return on equity of 4.25%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.97 earnings per share. Equities research analysts anticipate that Foot Locker, Inc. will post 1.56 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.