Connor Clark & Lunn Investment Management Ltd. Grows Holdings in Foot Locker, Inc. (NYSE:FL)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Foot Locker, Inc. (NYSE:FL) by 51.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,663 shares of the athletic footwear retailer’s stock after acquiring an additional 26,530 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Foot Locker were worth $1,690,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in shares of Foot Locker by 88.6% in 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 acquiring an additional 2,500,396 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Foot Locker by 30.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,429,870 shares of the athletic footwear retailer’s stock worth $31,114,000 after purchasing an additional 333,247 shares in the last quarter. Stifel Financial Corp grew its position in Foot Locker by 43.3% during the 3rd quarter. Stifel Financial Corp now owns 897,904 shares of the athletic footwear retailer’s stock valued at $23,202,000 after purchasing an additional 271,297 shares during the last quarter. Peregrine Capital Management LLC bought a new stake in Foot Locker during the 4th quarter valued at about $5,123,000. Finally, Point72 Asset Management L.P. raised its holdings in Foot Locker by 37.0% in the third quarter. Point72 Asset Management L.P. now owns 549,997 shares of the athletic footwear retailer’s stock worth $14,212,000 after buying an additional 148,523 shares during the last quarter.

Foot Locker Price Performance

NYSE FL opened at $16.54 on Thursday. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -3.67, a PEG ratio of 0.53 and a beta of 1.55. Foot Locker, Inc. has a 12 month low of $14.98 and a 12 month high of $33.94. The company’s 50 day moving average is $18.88 and its two-hundred day moving average is $22.25. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last issued its 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 company 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 posted $0.38 EPS. Foot Locker’s quarterly revenue was down 5.7% compared to the same quarter last year. As a group, research analysts anticipate that Foot Locker, Inc. will post 1.23 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Morgan Stanley cut their price target on shares of Foot Locker from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, December 6th. Evercore ISI dropped their price target on shares of Foot Locker from $30.00 to $22.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Robert W. Baird dropped their price target on Foot Locker from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Piper Sandler reduced their price objective on Foot Locker from $23.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $24.00 target price on shares of Foot Locker in a research report on Wednesday, March 5th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.81.

About Foot Locker

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.