Peregrine Capital Management LLC Takes $5.12 Million Position in Foot Locker, Inc. (NYSE:FL)

Peregrine Capital Management LLC bought a new stake in shares of Foot Locker, Inc. (NYSE:FL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 235,423 shares of the athletic footwear retailer’s stock, valued at approximately $5,123,000.

Several other institutional investors and hedge funds have also modified their holdings of FL. Allspring Global Investments Holdings LLC lifted its position 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 buying an additional 2,500,396 shares during the last quarter. Stifel Financial Corp lifted 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 worth $23,202,000 after buying an additional 271,297 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Foot Locker by 37.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 549,997 shares of the athletic footwear retailer’s stock worth $14,212,000 after buying an additional 148,523 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Foot Locker by 25.7% during the 4th quarter. Jennison Associates LLC now owns 640,351 shares of the athletic footwear retailer’s stock worth $13,934,000 after buying an additional 130,927 shares during the last quarter. Finally, KBC Group NV lifted its position 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 buying an additional 119,178 shares during the last quarter.

Foot Locker Trading Down 2.3 %

Shares of FL stock opened at $19.13 on Thursday. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -4.24, a PEG ratio of 0.57 and a beta of 1.48. The stock has a 50-day moving average of $20.74 and a 200-day moving average of $24.20. 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 1-year low of $18.04 and a 1-year high of $35.60.

Foot Locker (NYSE:FL) last issued its quarterly earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share 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 company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the company posted $0.30 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities research analysts forecast that Foot Locker, Inc. will post 1.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

FL has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective 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. Morgan Stanley lowered their target price on Foot Locker from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, December 6th. Piper Sandler lowered their target price on Foot Locker from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Robert W. Baird lowered their target price on Foot Locker from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Finally, Needham & Company LLC lowered their target price on Foot Locker from $25.00 to $24.00 and set a “buy” rating for the company in a report on Friday, January 24th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $24.94.

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.