Allspring Global Investments Holdings LLC Boosts Position in Foot Locker, Inc. (NYSE:FL)

Allspring Global Investments Holdings LLC raised its position in Foot Locker, Inc. (NYSE:FL) by 88.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,323,597 shares of the athletic footwear retailer’s stock after purchasing an additional 2,500,396 shares during the period. Allspring Global Investments Holdings LLC owned about 5.61% of Foot Locker worth $115,365,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FL. Empowered Funds LLC grew its stake in Foot Locker by 8.0% in the 4th quarter. Empowered Funds LLC now owns 416,498 shares of the athletic footwear retailer’s stock valued at $9,063,000 after acquiring an additional 30,977 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Foot Locker by 25.7% in the fourth quarter. Jennison Associates LLC now owns 640,351 shares of the athletic footwear retailer’s stock valued at $13,934,000 after purchasing an additional 130,927 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Foot Locker in the fourth quarter valued at approximately $50,000. KBC Group NV increased its stake in shares of Foot Locker by 5,148.1% during the 4th quarter. KBC Group NV now owns 121,493 shares of the athletic footwear retailer’s stock worth $2,644,000 after purchasing an additional 119,178 shares in the last quarter. Finally, Moody National Bank Trust Division acquired a new position in shares of Foot Locker during the 4th quarter worth approximately $610,000.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Barclays lowered their target price on Foot Locker from $34.00 to $29.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Telsey Advisory Group decreased their price objective on Foot Locker from $30.00 to $24.00 and set a “market perform” rating on the stock in a research note on Thursday, December 5th. Guggenheim cut their target price on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. UBS Group decreased their price target on shares of Foot Locker from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, December 5th. Finally, Jefferies Financial Group cut their price objective on shares of Foot Locker from $27.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, December 4th. Four 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $24.94.

Foot Locker Stock Performance

FL stock opened at $19.25 on Thursday. The stock has a 50-day moving average price of $20.93 and a two-hundred day moving average price of $24.49. 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, Inc. has a 12-month low of $18.04 and a 12-month high of $35.60.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.07). Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. 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 business posted $0.30 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. Sell-side analysts expect 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.