Point72 Asset Management L.P. Reduces Position in Foot Locker, Inc. (NYSE:FL)

Point72 Asset Management L.P. cut its stake in shares of Foot Locker, Inc. (NYSE:FL - Free Report) by 70.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,603 shares of the athletic footwear retailer's stock after selling 388,394 shares during the quarter. Point72 Asset Management L.P. owned about 0.17% of Foot Locker worth $3,516,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Summit Investment Advisors Inc. grew its holdings in shares of Foot Locker by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,728 shares of the athletic footwear retailer's stock valued at $190,000 after buying an additional 562 shares during the last quarter. Harbour Investments Inc. grew its position in Foot Locker by 81.6% during the 4th quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer's stock worth $31,000 after purchasing an additional 648 shares during the period. Foundry Partners LLC grew its position in Foot Locker by 8.8% during the 4th quarter. Foundry Partners LLC now owns 12,784 shares of the athletic footwear retailer's stock worth $278,000 after purchasing an additional 1,031 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Foot Locker during the 4th quarter worth about $32,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Foot Locker by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,462 shares of the athletic footwear retailer's stock worth $1,033,000 after purchasing an additional 1,786 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Telsey Advisory Group reaffirmed a "market perform" rating and set a $20.00 price target on shares of Foot Locker in a research report on Thursday, May 15th. The Goldman Sachs Group lowered their target price on shares of Foot Locker from $19.00 to $17.00 and set a "sell" rating on the stock in a research note on Tuesday, April 22nd. Needham & Company LLC reissued a "hold" rating and set a $24.00 target price on shares of Foot Locker in a research note on Thursday, May 15th. StockNews.com lowered shares of Foot Locker from a "hold" rating to a "sell" rating in a research note on Friday, April 11th. Finally, Morgan Stanley lowered their target price on shares of Foot Locker from $16.00 to $14.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $21.19.

Foot Locker Stock Up 1.3%

FL opened at $24.14 on Wednesday. Foot Locker, Inc. has a twelve month low of $11.00 and a twelve month high of $33.94. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $14.07 and a 200 day moving average price of $18.63. The company has a market cap of $2.30 billion, a PE ratio of -5.35, a price-to-earnings-growth ratio of 0.53 and a beta of 1.42.

Foot Locker (NYSE:FL - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share for the quarter, topping 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 firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The company's revenue for the quarter was down 5.7% on a year-over-year basis. Sell-side analysts expect 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.

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