Eagle Ridge Investment Management buys $633,761 stake in Foot Locker (FL)

Foot Locker (FL) : Eagle Ridge Investment Management scooped up 400 additional shares in Foot Locker during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 10,491 shares of Foot Locker which is valued at $633,761.Foot Locker makes up approximately 0.15% of Eagle Ridge Investment Management’s portfolio.

Foot Locker opened for trading at $61.2 and hit $62.05 on the upside on Wednesday, eventually ending the session at $61.93, with a gain of 1.06% or 0.65 points. The heightened volatility saw the trading volume jump to 14,13,798 shares. Company has a market cap of $8,428 M.

Other Hedge Funds, Including , Sigma Planning Corp added FL to its portfolio by purchasing 4,409 company shares during the most recent quarter which is valued at $266,348. Foot Locker makes up approx 0.04% of Sigma Planning Corp’s portfolio. Acadian Asset Management sold out all of its stake in FL during the most recent quarter. The investment firm sold 44,335 shares of FL which is valued $2,722,169. Somerset Trust Co added FL to its portfolio by purchasing 6,293 company shares during the most recent quarter which is valued at $386,390. Foot Locker makes up approx 0.25% of Somerset Trust Co’s portfolio.Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in FL in the latest quarter, The investment management firm added 3,470 additional shares and now holds a total of 43,032 shares of Foot Locker which is valued at $2,642,165. Foot Locker makes up approx 0.06% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.

On the company’s financial health, Foot Locker reported $1.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Feb 26, 2016. Analyst had a consensus of $1.12. The company had revenue of $2007.00 million for the quarter, compared to analysts expectations of $2006.17 million. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 EPS.

Many Wall Street Analysts have commented on Foot Locker. Foot Locker was Upgraded by Piper Jaffray to ” Overweight” on Apr 13, 2016. Foot Locker was Resumed by Credit Suisse to “Neutral” on Feb 5, 2016.

Foot Locker Inc. is a retailer of shoes and apparel. The Company operates in two segments: Athletic Stores and Direct-to-Customers. The Athletic Stores segment is an athletic footwear and apparel retailer whose formats include Foot Locker Lady Foot Locker Kids Foot Locker Champs Sports Footaction and SIX:02 as well as the retail stores of Runners Point Group including Runners Point and Sidestep. The Direct-to-Customers segment includes Footlocker.com Inc. and other affiliates including Eastbay Inc. and the direct-to-customer subsidiary of Runners Point Group which sell to customers through their Internet and mobile sites and catalogs. As of January 31 2015 the Company operated 3423 primarily mall-based stores in the United States Canada Europe Australia and New Zealand. As of January 31 2015 the Company operated a total of 78 franchised stores of which 31 are in the Middle East 27 in Germany and Switzerland and 20 in the Republic of Korea.

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