State of New Jersey Common Pension Fund D Makes New Investment in Foot Locker, Inc. (NYSE:FL)

State of New Jersey Common Pension Fund D purchased a new position in shares of Foot Locker, Inc. (NYSE:FL) in the 3rd quarter, Holdings Channel reports. The firm purchased 60,493 shares of the athletic footwear retailer’s stock, valued at approximately $1,563,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FL. Dimensional Fund Advisors LP boosted its holdings in Foot Locker by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 4,700,102 shares of the athletic footwear retailer’s stock worth $117,123,000 after purchasing an additional 71,152 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Foot Locker by 23.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer’s stock worth $72,279,000 after buying an additional 557,489 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Foot Locker by 326.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 921,273 shares of the athletic footwear retailer’s stock valued at $26,256,000 after acquiring an additional 705,237 shares in the last quarter. Invenomic Capital Management LP increased its position in shares of Foot Locker by 54.3% in the first quarter. Invenomic Capital Management LP now owns 752,320 shares of the athletic footwear retailer’s stock valued at $21,441,000 after acquiring an additional 264,598 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Foot Locker by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 689,542 shares of the athletic footwear retailer’s stock worth $17,183,000 after acquiring an additional 4,891 shares in the last quarter.

Foot Locker Trading Down 4.7 %

Shares of Foot Locker stock opened at $22.50 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.49 and a current ratio of 1.66. The firm has a 50-day moving average of $24.76 and a 200-day moving average of $25.78. Foot Locker, Inc. has a 52-week low of $20.47 and a 52-week high of $35.60. The stock has a market cap of $2.13 billion, a PE ratio of -5.81, a PEG ratio of 0.58 and a beta of 1.44.

Foot Locker (NYSE:FL) last posted its quarterly earnings data on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. As a group, sell-side analysts forecast that Foot Locker, Inc. will post 1.5 EPS for the current year.

Insider Buying and Selling

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of Foot Locker stock in a transaction on Monday, August 26th. The stock was sold at an average price of $33.22, for a total value of $17,911,559.60. Following the completion of the transaction, the insider now directly owns 10,393,592 shares of the company’s stock, valued at $345,275,126.24. The trade was a 4.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on FL shares. Gordon Haskett started coverage on Foot Locker in a research report on Monday, October 7th. They set an “accumulate” rating and a $27.00 price target on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $30.00 price target on shares of Foot Locker in a research report on Friday, August 23rd. StockNews.com downgraded shares of Foot Locker from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $27.00 target price on shares of Foot Locker in a report on Wednesday, August 28th. Finally, Robert W. Baird reduced their price target on Foot Locker from $35.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $26.53.

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.