Neo Ivy Capital Management Takes $2.64 Million Position in Foot Locker, Inc. (NYSE:FL)

Neo Ivy Capital Management bought a new stake in Foot Locker, Inc. (NYSE:FL) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 102,046 shares of the athletic footwear retailer’s stock, valued at approximately $2,636,000. Foot Locker accounts for about 0.9% of Neo Ivy Capital Management’s investment portfolio, making the stock its 17th biggest holding. Neo Ivy Capital Management owned approximately 0.11% of Foot Locker as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP bought a new position in Foot Locker in the 2nd quarter valued at about $31,000. Fifth Third Bancorp raised its holdings in Foot Locker by 116.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock valued at $34,000 after acquiring an additional 733 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Foot Locker by 156.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after acquiring an additional 985 shares during the period. Headlands Technologies LLC bought a new position in Foot Locker in the 2nd quarter valued at about $43,000. Finally, nVerses Capital LLC bought a new position in Foot Locker in the 3rd quarter valued at about $47,000.

Foot Locker Stock Performance

Shares of Foot Locker stock opened at $21.65 on Wednesday. Foot Locker, Inc. has a fifty-two week low of $19.33 and a fifty-two week high of $35.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45. The firm has a market capitalization of $2.05 billion, a P/E ratio of -4.80, a P/E/G ratio of 0.87 and a beta of 1.46. The company’s 50 day moving average price is $23.73 and its two-hundred day moving average price is $25.84.

Foot Locker (NYSE:FL) last issued its earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the business earned $0.30 EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities analysts forecast that Foot Locker, Inc. will post 1.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on FL shares. UBS Group lowered their target price on shares of Foot Locker from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. Citigroup raised their target price on shares of Foot Locker from $27.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Morgan Stanley lowered their target price 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 lowered their target price on shares of Foot Locker from $38.00 to $32.00 and set an “outperform” rating on the stock in a report on Tuesday, November 26th. Finally, 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 report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Foot Locker presently has an average rating of “Hold” and a consensus price target of $25.29.

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.