Jennison Associates LLC Sells 648,117 Shares of Foot Locker, Inc. (NYSE:FL)

Jennison Associates LLC decreased its stake in shares of Foot Locker, Inc. (NYSE:FL) by 67.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 305,707 shares of the athletic footwear retailer’s stock after selling 648,117 shares during the period. Jennison Associates LLC owned approximately 0.32% of Foot Locker worth $9,523,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Global Retirement Partners LLC boosted its holdings in 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 during the last quarter. CWM LLC lifted its stake in Foot Locker by 26.7% in the fourth quarter. CWM LLC now owns 1,836 shares of the athletic footwear retailer’s stock valued at $57,000 after acquiring an additional 387 shares during the last quarter. Signaturefd LLC lifted its stake in Foot Locker by 105.9% in the third quarter. Signaturefd LLC now owns 5,272 shares of the athletic footwear retailer’s stock valued at $91,000 after acquiring an additional 2,712 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Foot Locker in the fourth quarter valued at $100,000. Finally, Pathstone Family Office LLC acquired a new stake in Foot Locker in the third quarter valued at $180,000.

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 firm’s 50 day moving average is $26.27 and its 200 day moving average is $26.34. Foot Locker, Inc. has a 1 year low of $14.84 and a 1 year high of $42.79.

Foot Locker (NYSE:FL) last posted its earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. Foot Locker had a negative net margin of 4.04% and a positive return on equity of 4.25%. The business had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period last year, the company earned $0.97 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. Sell-side analysts expect that Foot Locker, Inc. will post 1.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FL has been the subject of a number of recent analyst reports. UBS Group upgraded shares of Foot Locker from a “sell” rating to a “neutral” rating and increased their price target for the company from $12.00 to $23.00 in a research note on Monday, March 11th. Citigroup upgraded shares of Foot Locker from a “sell” rating to a “neutral” rating and raised their target price for the stock from $19.00 to $24.00 in a research note on Friday, March 22nd. StockNews.com upgraded shares of Foot Locker from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. Morgan Stanley cut their target price on shares of Foot Locker from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Thursday, March 7th. Finally, Bank of America cut their target price on shares of Foot Locker from $31.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, March 7th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Foot Locker presently has a consensus rating of “Hold” and an average price target of $24.94.

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.