James Investment Research Inc Lowers stake in Foot Locker (FL)

Foot Locker (FL) : James Investment Research Inc reduced its stake in Foot Locker by 17.07% during the most recent quarter end. The investment management company now holds a total of 886,678 shares of Foot Locker which is valued at $52,145,533 after selling 182,541 shares in Foot Locker , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Foot Locker makes up approximately 1.29% of James Investment Research Inc’s portfolio.

Other Hedge Funds, Including , Ferguson Wellman Capital Management Inc reduced its stake in FL by selling 357,488 shares or 91.37% in the most recent quarter. The Hedge Fund company now holds 33,749 shares of FL which is valued at $1,984,779. Foot Locker makes up approx 0.08% of Ferguson Wellman Capital Management Inc’s portfolio.Davenport Co reduced its stake in FL by selling 1,250 shares or 18.14% in the most recent quarter. The Hedge Fund company now holds 5,639 shares of FL which is valued at $326,836.Next Financial Group Inc boosted its stake in FL in the latest quarter, The investment management firm added 30 additional shares and now holds a total of 4,530 shares of Foot Locker which is valued at $260,067. Foot Locker makes up approx 0.08% of Next Financial Group Inc’s portfolio. West Oak Capital added FL to its portfolio by purchasing 150 company shares during the most recent quarter which is valued at $8,612. Foot Locker makes up approx 0.01% of West Oak Capital’s portfolio.

Foot Locker opened for trading at $57.85 and hit $58.84 on the upside on Monday, eventually ending the session at $58.81, with a gain of 2.01% or 1.16 points. The heightened volatility saw the trading volume jump to 13,90,989 shares. Company has a market cap of $7,958 M.

On the company’s financial health, Foot Locker reported $1.39 EPS for the quarter, based on the information available during the earnings call on May 20, 2016. Analyst had a consensus estimate of $1.39. The company had revenue of $1987.00 million for the quarter, compared to analysts expectations of $1998.45 million. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS.

Many Wall Street Analysts have commented on Foot Locker. Shares were Reiterated by Telsey Advisory Group on May 23, 2016 to “Outperform” and Lowered the Price Target to $ 72 from a previous price target of $78 .Shares were Reiterated by Canaccord Genuity on May 23, 2016 to “Buy” and Lowered the Price Target to $ 75 from a previous price target of $81 .

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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