Twinbeech Capital LP Makes New $5.72 Million Investment in Foot Locker, Inc. (NYSE:FL)

Twinbeech Capital LP acquired a new position in shares of Foot Locker, Inc. (NYSE:FL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 262,653 shares of the athletic footwear retailer's stock, valued at approximately $5,715,000. Twinbeech Capital LP owned approximately 0.28% of Foot Locker at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbour Investments Inc. raised its holdings in Foot Locker by 81.6% during the fourth 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 in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Foot Locker during the fourth quarter worth approximately $32,000. R Squared Ltd acquired a new stake in Foot Locker during the fourth quarter worth approximately $50,000. Sterling Capital Management LLC raised its holdings in Foot Locker by 819.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer's stock worth $57,000 after purchasing an additional 2,343 shares in the last quarter. Finally, Pingora Partners LLC acquired a new stake in Foot Locker during the fourth quarter worth approximately $61,000.

Analysts Set New Price Targets

A number of brokerages have recently commented on FL. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $20.00 target price on shares of Foot Locker in a report on Thursday, May 15th. UBS Group cut their target price on shares of Foot Locker from $22.00 to $21.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. Jefferies Financial Group cut their target price on shares of Foot Locker from $22.00 to $19.00 and set a "hold" rating on the stock in a report on Wednesday, March 5th. Piper Sandler cut their target price on shares of Foot Locker from $19.00 to $12.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, Morgan Stanley cut their target price on shares of Foot Locker from $16.00 to $14.00 and set an "underweight" rating on the stock in a report on Tuesday, May 6th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Foot Locker presently has an average rating of "Hold" and a consensus price target of $21.19.

Foot Locker Price Performance

Foot Locker stock opened at $23.81 on Tuesday. Foot Locker, Inc. has a 52 week low of $11.00 and a 52 week 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 firm's 50-day simple moving average is $13.90 and its 200 day simple moving average is $18.59. The firm has a market capitalization of $2.27 billion, a PE ratio of -5.28, a P/E/G ratio of 0.53 and a beta of 1.42.

Foot Locker (NYSE:FL - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 EPS 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 business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the firm earned $0.38 EPS. The business's revenue for the quarter was down 5.7% compared to the same quarter last year. On average, equities research analysts predict that Foot Locker, Inc. will post 1.23 EPS 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.

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