State of New Jersey Common Pension Fund D Cuts Stock Holdings in Foot Locker, Inc. (NYSE:FL)

State of New Jersey Common Pension Fund D decreased its holdings in shares of Foot Locker, Inc. (NYSE:FL) by 22.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,971 shares of the athletic footwear retailer’s stock after selling 29,713 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.11% of Foot Locker worth $3,270,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC grew its holdings in shares of Foot Locker by 444.4% during the third quarter. Global Retirement Partners LLC now owns 1,666 shares of the athletic footwear retailer’s stock worth $31,000 after purchasing an additional 1,360 shares in the last quarter. CWM LLC lifted its position in Foot Locker by 26.7% in the 4th quarter. CWM LLC now owns 1,836 shares of the athletic footwear retailer’s stock worth $57,000 after buying an additional 387 shares during the last quarter. Signaturefd LLC lifted its position in Foot Locker by 105.9% in the 3rd quarter. Signaturefd LLC now owns 5,272 shares of the athletic footwear retailer’s stock worth $91,000 after buying an additional 2,712 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Foot Locker in the 4th quarter worth approximately $100,000. Finally, Pathstone Family Office LLC bought a new stake in Foot Locker in the 3rd quarter worth approximately $180,000.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FL shares. Evercore ISI upgraded Foot Locker from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $28.00 to $32.00 in a research report on Monday, March 25th. Guggenheim dropped their target price on Foot Locker from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, March 7th. Bank of America dropped their target price on Foot Locker from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, March 7th. Telsey Advisory Group reiterated a “market perform” rating and issued a $28.00 price objective (down previously from $38.00) on shares of Foot Locker in a research report on Thursday, March 7th. Finally, Piper Sandler lowered their price objective on Foot Locker from $37.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, March 7th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $24.94.

Foot Locker Price Performance

Shares of Foot Locker stock opened at $21.98 on Friday. The company has a quick ratio of 0.55, a current ratio of 1.72 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.08 billion, a PE ratio of -6.28, a P/E/G ratio of 0.52 and a beta of 1.43. The business has a 50 day moving average of $26.27 and a 200 day moving average of $26.34. Foot Locker, Inc. has a 52 week low of $14.84 and a 52 week high of $42.79.

Foot Locker (NYSE:FL) last announced its earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The company had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.28 billion. Foot Locker had a positive return on equity of 4.25% and a negative net margin of 4.04%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 earnings per share. As a group, equities research analysts forecast that Foot Locker, Inc. will post 1.56 earnings per share for the current year.

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.