Quantum Capital Management Lowers stake in Foot Locker (FL)

Foot Locker (FL) : Quantum Capital Management reduced its stake in Foot Locker by 4.03% during the most recent quarter end. The investment management company now holds a total of 279,259 shares of Foot Locker which is valued at $17,073,895 after selling 11,728 shares in Foot Locker , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Foot Locker makes up approximately 2.31% of Quantum Capital Management’s portfolio.

Other Hedge Funds, Including , Strategic Global Advisors sold out all of its stake in FL during the most recent quarter. The investment firm sold 3,439 shares of FL which is valued $210,260.First Trust Advisors Lp boosted its stake in FL in the latest quarter, The investment management firm added 86,984 additional shares and now holds a total of 455,389 shares of Foot Locker which is valued at $26,772,319. Foot Locker makes up approx 0.08% of First Trust Advisors Lp’s portfolio.State Treasurer State Of Michigan reduced its stake in FL by selling 7,500 shares or 13.69% in the most recent quarter. The Hedge Fund company now holds 47,300 shares of FL which is valued at $2,769,888. Foot Locker makes up approx 0.02% of State Treasurer State Of Michigan’s portfolio.Wedge Capital Management L L Pnc reduced its stake in FL by selling 882,465 shares or 98.5% in the most recent quarter. The Hedge Fund company now holds 13,453 shares of FL which is valued at $802,068. Foot Locker makes up approx 0.01% of Wedge Capital Management L L Pnc’s portfolio. Sigma Planning Corp sold out all of its stake in FL during the most recent quarter. The investment firm sold 4,409 shares of FL which is valued $260,925.

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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