Towle & Co. Has $13.24 Million Stock Holdings in Foot Locker, Inc. (NYSE:FL)

Towle & Co. cut its stake in Foot Locker, Inc. (NYSE:FL - Free Report) by 17.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 608,240 shares of the athletic footwear retailer's stock after selling 132,359 shares during the period. Foot Locker comprises approximately 2.3% of Towle & Co.'s holdings, making the stock its 22nd largest holding. Towle & Co. owned approximately 0.64% of Foot Locker worth $13,235,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. KBC Group NV increased its holdings in 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 valued at $2,644,000 after purchasing an additional 119,178 shares in the last quarter. R Squared Ltd acquired a new stake in Foot Locker during the 4th quarter valued at $50,000. Jennison Associates LLC boosted its position in Foot Locker by 25.7% in the 4th quarter. Jennison Associates LLC now owns 640,351 shares of the athletic footwear retailer's stock valued at $13,934,000 after buying an additional 130,927 shares during the last quarter. Empowered Funds LLC boosted its position in Foot Locker by 8.0% in the 4th quarter. Empowered Funds LLC now owns 416,498 shares of the athletic footwear retailer's stock valued at $9,063,000 after buying an additional 30,977 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Foot Locker by 88.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer's stock worth $115,365,000 after purchasing an additional 2,500,396 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FL. Needham & Company LLC reaffirmed a "hold" rating and set a $24.00 price objective on shares of Foot Locker in a research note on Thursday, May 15th. Robert W. Baird lifted their price target on Foot Locker from $14.00 to $24.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Evercore ISI dropped their price target on Foot Locker from $22.00 to $15.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Wall Street Zen downgraded Foot Locker from a "hold" rating to a "sell" rating in a research note on Friday, April 11th. Finally, The Goldman Sachs Group dropped their price target on Foot Locker from $19.00 to $17.00 and set a "sell" rating on the stock in a research note on Tuesday, April 22nd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Foot Locker presently has a consensus rating of "Hold" and a consensus target price of $21.19.

Foot Locker Price Performance

FL traded down $0.08 during trading on Thursday, hitting $23.86. 4,903,940 shares of the stock traded hands, compared to its average volume of 4,001,509. Foot Locker, Inc. has a twelve month low of $11.00 and a twelve month high of $33.94. The company has a market cap of $2.27 billion, a price-to-earnings ratio of -5.29, a PEG ratio of 0.53 and a beta of 1.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45. The business has a 50 day moving average price of $14.23 and a 200 day moving average price of $18.66.

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