BlackRock Fund Advisors has recently announced that it has increased stake in Foot Locker Inc (NYSE:FL) by 38.30%. After grabbing 11.73 million shares, the institutional investor is now in possession of 3.25 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 12.46% having worth around $315.83 million. Moreover, The Vanguard Group, Inc. increased its share by 0.9 million to have a control over 10.15 million shares. And Arrowstreet Capital LP raised its holdings to 2.83 million shares by acquiring 3.84 million shares or 4.07% of the stake.
Foot Locker Inc (FL) concluded trading on 01/04/24 at a closing price of $28.43, with 6.66 million shares of worth about $189.46 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 9.94% during that period and on Thursday the price saw a loss of about -2.30%. Currently the company’s common shares owned by public are about 91.91M shares, out of which, 81.44M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 21 analysts are covering the FL stock and their offered price forecasts bring an average price target of $24.69. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $35.00 and could fall to a lowest price of $12.00. The stock’s current price level is -15.15% below of average price target set by the analysts, while a dip to estimated low would result in loss of -136.92% for the stock. However, touching the estimated high of $35.00 would mean a gain of 18.77% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 69 times over the past 12 months. They bought 231,916 shares in 59 of the transactions. In 10 selling transactions, insiders dumped 55,174 shares.
iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and Fidelity Low Priced Stock Fund are the top 3 mutual funds which are holding stakes in Foot Locker Inc iShares Core S&P Small Cap ETF is currently holding 5.48 million shares of worth totaling $147.49 million. The company recently came buying 2676.0 shares which brought its stake up to 5.82% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 4514.0 shares, after which its hold over company’s outstanding shares expand to 3.11%, leaving 2.93 million shares with the mutual fund that have a worth of about $78.95 million. Fidelity Low Priced Stock Fund, after buying 2.46 million shares, have now control over 2.61% of the stake in the company. It holds 0.0 shares of worth $66.17 million.
Foot Locker Inc (NYSE: FL) started trading at $28.89, below -$0.21 from concluding price of the previous day. However, the stock later moved at a day high price of 28.89, or with a loss of -2.30%. Stock saw a price change of -9.34% in past 5 days and over the past one month there was a price change of -4.82%. Year-to-date (YTD), FL shares are showing a performance of -8.73% which decreased to -23.27% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $14.84 but also hit the highest price of $47.22 during that period. The average intraday trading volume for Foot Locker Inc shares is 4.06 million. The stock is currently trading -5.19% below its 20-day simple moving average (SMA20), while that difference is up 11.69% for SMA50 and it goes to 3.47% higher than SMA200.
BlackRock Fund Advisors acquired 11.73 million shares of Foot Locker Inc having value of about $315.83 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 3.25 million shares in the company valued at close to $92342487.95, or have control over 38.30% stake in the company. Foot Locker Inc (NYSE: FL) currently have 91.91M outstanding shares and institutions hold larger chunk of about 97.19% of that. Holding of mutual funds in the company is about 45.78% while other institutional holders and individual stake holders have control over 53.02% and 16.98% of the stake respectively.
The stock has a current market capitalization of $2.68B and its 3Y-monthly beta is at 1.41. PE ratio of stock for trailing 12 months is 34.61, while it has posted earnings per share of $0.82 in the same period. It has Quick Ratio of 0.35 while making debt-to-equity ratio of 0.92. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FL, volatility over the week remained 2.95% while standing at 3.59% over the month.
Analysts are in expectations that Foot Locker Inc (FL) stock would likely to be making an EPS of $0.3 in the current quarter, while forecast for next quarter EPS is $0.67 and it is $1.99 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.25 which is $0.36 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.97 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -72.97% while it is estimated to increase by 45.27% in next year.
Analysts at 21 brokerage firms have issued recommendations for the Foot Locker Inc (FL)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.24. Out of those 21 Wall Street analysts, 3 recommended a “Buy” rating, while 12 were in favor recommending the stock as a “Hold” and 5 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Piper Sandler on December 14, 2023 offering an Overweight rating for the stock and assigned a target price range of between $24 and $33 to it.
