TCW Group Inc. Makes New Investment in Foot Locker, Inc. (NYSE:FL)

TCW Group Inc. purchased a new position in Foot Locker, Inc. (NYSE:FL) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 74,428 shares of the athletic footwear retailer’s stock, valued at approximately $1,620,000. TCW Group Inc. owned 0.08% of Foot Locker as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in FL. Allspring Global Investments Holdings LLC increased its position in Foot Locker by 88.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer’s stock worth $115,365,000 after buying an additional 2,500,396 shares during the period. Stifel Financial Corp increased its position in Foot Locker by 43.3% in the 3rd quarter. Stifel Financial Corp now owns 897,904 shares of the athletic footwear retailer’s stock worth $23,202,000 after buying an additional 271,297 shares during the period. Peregrine Capital Management LLC bought a new stake in shares of Foot Locker during the fourth quarter valued at approximately $5,123,000. Point72 Asset Management L.P. increased its position in shares of Foot Locker by 37.0% during the third quarter. Point72 Asset Management L.P. now owns 549,997 shares of the athletic footwear retailer’s stock valued at $14,212,000 after purchasing an additional 148,523 shares during the period. Finally, Jennison Associates LLC increased its position in shares of Foot Locker by 25.7% during the fourth 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 period.

Foot Locker Price Performance

Foot Locker stock opened at $17.97 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67. The firm has a market cap of $1.70 billion, a P/E ratio of -3.98, a P/E/G ratio of 0.53 and a beta of 1.48. The business’s fifty day moving average is $20.53 and its two-hundred day moving average is $23.97. Foot Locker, Inc. has a 52 week low of $17.67 and a 52 week high of $34.99.

Foot Locker (NYSE:FL) last posted its quarterly earnings data on Wednesday, December 4th. The athletic footwear retailer reported $0.33 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the firm posted $0.30 EPS. Foot Locker’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities research analysts forecast that Foot Locker, Inc. will post 1.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FL. Piper Sandler lowered their price objective on Foot Locker from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Jefferies Financial Group lowered their price objective on Foot Locker from $27.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, December 4th. UBS Group lowered their price objective on Foot Locker from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, December 5th. The Goldman Sachs Group lowered their price objective on Foot Locker from $25.00 to $22.00 and set a “sell” rating on the stock in a research report on Thursday, December 5th. Finally, Morgan Stanley lowered their price objective on Foot Locker from $17.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, December 6th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Foot Locker currently has an average rating of “Hold” and an average target price of $24.94.

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.