KLP Kapitalforvaltning AS Buys New Stake in Foot Locker, Inc. (NYSE:FL)

KLP Kapitalforvaltning AS purchased a new stake in Foot Locker, Inc. (NYSE:FL) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 17,500 shares of the athletic footwear retailer’s stock, valued at approximately $381,000.

Several other hedge funds have also bought and sold shares of FL. Moody National Bank Trust Division bought a new stake in shares of Foot Locker in the fourth quarter worth about $610,000. Geode Capital Management LLC increased its stake in Foot Locker by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock worth $49,319,000 after acquiring an additional 25,394 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 worth $115,365,000 after acquiring an additional 2,500,396 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Foot Locker by 198.0% during the 4th 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 last quarter. Finally, Stifel Financial Corp grew its holdings in shares of Foot Locker by 43.3% in the third 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 in the last quarter.

Wall Street Analysts Forecast Growth

FL has been the topic of a number of recent research reports. UBS Group decreased their price target on shares of Foot Locker from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Morgan Stanley lowered their price target on shares of Foot Locker from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, December 6th. Telsey Advisory Group reissued a “market perform” rating and set a $24.00 price objective on shares of Foot Locker in a research note on Wednesday, March 5th. Piper Sandler decreased their price objective on Foot Locker from $23.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $24.00 target price on shares of Foot Locker in a report on Wednesday, March 5th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.81.

Foot Locker Stock Up 1.6 %

Shares of FL opened at $12.65 on Friday. The firm has a fifty day moving average price of $17.44 and a 200-day moving average price of $21.28. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.20 billion, a P/E ratio of -2.80, a P/E/G ratio of 0.53 and a beta of 1.41. Foot Locker, Inc. has a 12-month low of $11.31 and a 12-month high of $33.94.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.13. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.32 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The company’s revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 earnings per share. Equities research analysts expect that Foot Locker, Inc. will post 1.23 earnings per share for the current year.

Foot Locker Company 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.