Smithbridge Asset Management Incde buys $470,778 stake in Foot Locker (FL)

Foot Locker (FL) : Smithbridge Asset Management Incde scooped up 2,300 additional shares in Foot Locker during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 7,700 shares of Foot Locker which is valued at $470,778.Foot Locker makes up approximately 0.42% of Smithbridge Asset Management Incde’s portfolio.

Other Hedge Funds, Including , Old Mutual Customised Solutions (proprietary) Ltd boosted its stake in FL in the latest quarter, The investment management firm added 1,800 additional shares and now holds a total of 3,200 shares of Foot Locker which is valued at $195,648. Foot Locker makes up approx 0.05% of Old Mutual Customised Solutions (proprietary) Ltd’s portfolio.Oregon Public Employees Retirement Fund reduced its stake in FL by selling 30,401 shares or 42.24% in the most recent quarter. The Hedge Fund company now holds 41,577 shares of FL which is valued at $2,434,749. Foot Locker makes up approx 0.05% of Oregon Public Employees Retirement Fund’s portfolio. Mu Investments Ltd. sold out all of its stake in FL during the most recent quarter. The investment firm sold 3,250 shares of FL which is valued $193,700.

Foot Locker opened for trading at $68.65 and hit $68.96 on the upside on Tuesday, eventually ending the session at $68.44, with a gain of 0.28% or 0.19 points. The heightened volatility saw the trading volume jump to 21,71,533 shares. Company has a market cap of $9,261 M.

On the company’s financial health, Foot Locker reported $0.94 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 19, 2016. Analyst had a consensus of $0.90. The company had revenue of $1780.00 million for the quarter, compared to analysts expectations of $1762.64 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 $0.84 EPS.

Many Wall Street Analysts have commented on Foot Locker. Company shares were Reiterated by Telsey Advisory Group on Aug 22, 2016 to “Outperform”, Firm has raised the Price Target to $ 78 from a previous price target of $72 .Company shares were Reiterated by Susquehanna on Aug 22, 2016 to “Positive”, Firm has raised the Price Target to $ 80 from a previous price target of $73 .Susquehanna Initiated Foot Locker on Aug 12, 2016 to “Positive”, Price Target of the shares are set at $73.

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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