Jennison Associates LLC Sells 648,117 Shares of Foot Locker, Inc. (NYSE:FL)

Jennison Associates LLC trimmed its stake in Foot Locker, Inc. (NYSE:FL) by 67.9% during the 4th quarter, Holdings Channel reports. The firm owned 305,707 shares of the athletic footwear retailer’s stock after selling 648,117 shares during the quarter. Jennison Associates LLC’s holdings in Foot Locker were worth $9,523,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC increased its position in shares of Foot Locker by 444.4% in the third quarter. Global Retirement Partners LLC now owns 1,666 shares of the athletic footwear retailer’s stock worth $31,000 after purchasing an additional 1,360 shares during the last quarter. CWM LLC increased its position in shares of Foot Locker by 26.7% in the fourth quarter. CWM LLC now owns 1,836 shares of the athletic footwear retailer’s stock worth $57,000 after purchasing an additional 387 shares during the last quarter. Signaturefd LLC increased its position in shares of Foot Locker by 105.9% in the third quarter. Signaturefd LLC now owns 5,272 shares of the athletic footwear retailer’s stock worth $91,000 after purchasing an additional 2,712 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Foot Locker in the fourth quarter worth approximately $100,000. Finally, Pathstone Family Office LLC bought a new position in shares of Foot Locker in the third quarter worth approximately $180,000.

Wall Street Analysts Forecast Growth

FL has been the topic of a number of recent research reports. Morgan Stanley reduced their price target on shares of Foot Locker from $28.00 to $26.00 and set an “equal weight” 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, April 22nd. Guggenheim reduced 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. Citigroup upgraded shares of Foot Locker from a “sell” rating to a “neutral” rating and increased their price target for the company from $19.00 to $24.00 in a research report on Friday, March 22nd. Finally, Piper Sandler reduced 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. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Foot Locker currently has an average rating of “Hold” and an average price target of $24.94.

Foot Locker Trading Up 0.2 %

NYSE:FL opened at $21.98 on Friday. The firm’s fifty day simple moving average is $26.27 and its 200 day simple moving average is $26.34. Foot Locker, Inc. has a twelve month low of $14.84 and a twelve month high of $42.79. The company has a current ratio of 1.72, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.04. The business had revenue of $2.38 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.97 earnings per share. Equities analysts predict that Foot Locker, Inc. will post 1.56 earnings per share for the current fiscal year.

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.