Invenomic Capital Management LP Takes $1.85 Million Position in Foot Locker, Inc. (NYSE:FL)

Invenomic Capital Management LP purchased a new stake in Foot Locker, Inc. (NYSE:FL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 85,023 shares of the athletic footwear retailer’s stock, valued at approximately $1,850,000.

A number of other institutional investors and hedge funds also recently modified their holdings of FL. Fiduciary Alliance LLC acquired a new stake in shares of Foot Locker in the 4th quarter valued at approximately $203,000. Moody National Bank Trust Division acquired a new stake in Foot Locker during the 4th quarter valued at $610,000. KBC Group NV lifted 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 during the last quarter. R Squared Ltd acquired a new stake in Foot Locker during the 4th quarter valued at $50,000. Finally, Jennison Associates LLC lifted its holdings in Foot Locker by 25.7% during the 4th quarter. Jennison Associates LLC now owns 640,351 shares of the athletic footwear retailer’s stock valued at $13,934,000 after purchasing an additional 130,927 shares during the last quarter.

Foot Locker Stock Performance

NYSE:FL opened at $12.03 on Monday. The stock has a market cap of $1.15 billion, a P/E ratio of -2.67, a price-to-earnings-growth ratio of 0.53 and a beta of 1.42. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15. The stock’s 50-day moving average is $13.75 and its 200-day moving average is $18.80. Foot Locker, Inc. has a 1-year low of $11.00 and a 1-year high of $33.94.

Foot Locker (NYSE:FL) 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. The company had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 earnings per share. Equities research analysts anticipate that Foot Locker, Inc. will post 1.23 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FL shares. StockNews.com downgraded Foot Locker from a “hold” rating to a “sell” rating in a report on Friday, April 11th. JPMorgan Chase & Co. lowered their price objective on Foot Locker from $19.00 to $16.00 and set an “underweight” rating on the stock in a research report on Monday, April 14th. Piper Sandler lowered their price objective on Foot Locker from $19.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Evercore ISI lowered their price objective on Foot Locker from $22.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Finally, Robert W. Baird lowered their price objective on Foot Locker from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $21.25.

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.