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

Allspring Global Investments Holdings LLC lowered its position in Foot Locker, Inc. (NYSE:FL - Free Report) by 4.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,090,821 shares of the athletic footwear retailer's stock after selling 232,776 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 5.34% of Foot Locker worth $72,086,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FL. Ameriprise Financial Inc. lifted its position in shares of Foot Locker by 66.5% during the 4th quarter. Ameriprise Financial Inc. now owns 541,659 shares of the athletic footwear retailer's stock worth $11,786,000 after purchasing an additional 216,352 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Foot Locker in the fourth quarter valued at $5,473,000. Smartleaf Asset Management LLC lifted its holdings in 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 worth $63,000 after buying an additional 1,911 shares during the last quarter. Sei Investments Co. boosted its position in shares of Foot Locker by 140.8% during the 4th quarter. Sei Investments Co. now owns 412,988 shares of the athletic footwear retailer's stock worth $8,987,000 after acquiring an additional 241,504 shares in the last quarter. Finally, Amundi boosted its position in shares of Foot Locker by 140.6% during the 4th quarter. Amundi now owns 47,683 shares of the athletic footwear retailer's stock worth $980,000 after acquiring an additional 27,868 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FL shares. Morgan Stanley decreased their target price on Foot Locker from $16.00 to $14.00 and set an "underweight" rating for the company in a research note on Tuesday, May 6th. The Goldman Sachs Group reduced their price objective on shares of Foot Locker from $19.00 to $17.00 and set a "sell" rating for the company in a research report on Tuesday, April 22nd. Evercore ISI lowered their target price on shares of Foot Locker from $22.00 to $15.00 and set an "outperform" rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. upgraded shares of Foot Locker from an "underweight" rating to a "neutral" rating and lifted their price target for the stock from $16.00 to $24.00 in a research note on Thursday, May 15th. Finally, Piper Sandler decreased their price objective on shares of Foot Locker from $19.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Foot Locker currently has a consensus rating of "Hold" and a consensus price target of $21.20.

Foot Locker Stock Performance

Shares of NYSE FL traded up $0.03 during midday trading on Monday, reaching $24.53. 4,457,759 shares of the company were exchanged, compared to its average volume of 4,044,895. The stock has a market cap of $2.34 billion, a P/E ratio of -6.51, a PEG ratio of 2.05 and a beta of 1.73. Foot Locker, Inc. has a 1 year low of $11.00 and a 1 year high of $33.94. The stock has a fifty day simple moving average of $19.77 and a 200 day simple moving average of $18.67. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.17.

Foot Locker (NYSE:FL - Get Free Report) last announced its earnings results on Thursday, May 29th. The athletic footwear retailer reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). Foot Locker had a positive return on equity of 3.65% and a negative net margin of 4.54%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the business posted $0.22 EPS. The company's revenue was down 4.6% on a year-over-year basis. On average, research analysts forecast that Foot Locker, Inc. will post 1.23 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.