MML Investors Services LLC Takes Position in Foot Locker, Inc. (NYSE:FL)

MML Investors Services LLC purchased a new position in shares of Foot Locker, Inc. (NYSE:FL) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,958 shares of the athletic footwear retailer’s stock, valued at approximately $283,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FL. Dimensional Fund Advisors LP increased its position in Foot Locker by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,700,102 shares of the athletic footwear retailer’s stock worth $117,123,000 after purchasing an additional 71,152 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of Foot Locker by 10.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,135,474 shares of the athletic footwear retailer’s stock valued at $29,341,000 after buying an additional 106,402 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Foot Locker by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,113,583 shares of the athletic footwear retailer’s stock worth $28,775,000 after acquiring an additional 38,318 shares during the period. Stifel Financial Corp raised its position in Foot Locker by 43.3% in the third quarter. Stifel Financial Corp now owns 897,904 shares of the athletic footwear retailer’s stock worth $23,202,000 after acquiring an additional 271,297 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Foot Locker by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 689,542 shares of the athletic footwear retailer’s stock valued at $17,183,000 after acquiring an additional 4,891 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Foot Locker from $27.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, December 4th. Piper Sandler lowered their target price on shares of Foot Locker from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Evercore ISI reduced their price target on shares of Foot Locker from $38.00 to $32.00 and set an “outperform” rating for the company in a research report on Tuesday, November 26th. Needham & Company LLC restated a “buy” rating and issued a $25.00 price target on shares of Foot Locker in a report on Wednesday, December 18th. Finally, Williams Trading raised Foot Locker from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $17.00 to $21.00 in a report on Wednesday, November 27th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.18.

Foot Locker Stock Performance

Foot Locker stock opened at $21.79 on Thursday. The stock has a fifty day moving average price of $23.35 and a 200 day moving average price of $25.57. Foot Locker, Inc. has a 52 week low of $19.33 and a 52 week high of $35.60. The firm has a market capitalization of $2.07 billion, a P/E ratio of -4.83, a PEG ratio of 0.86 and a beta of 1.46. 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 announced its quarterly earnings data on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the company earned $0.30 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. Equities research analysts anticipate that Foot Locker, Inc. will post 1.23 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.