Published: Fri, May 19, 2017
Economy | By Annette Adams

Ferguson Wellman Capital Management Inc. Lowers Position in Foot Locker, Inc. (FL)

Ferguson Wellman Capital Management Inc. Lowers Position in Foot Locker, Inc. (FL)

The share price of Foot Locker, Inc.

The company claims that the lag in consumers receiving their tax refunds hampered results for February, typically one of the biggest months of the year for Foot Locker.

Investors may consider better-ranked stocks such as The Children's Place, Inc. Foot Locker, Inc. (NYSE:FL)'s price sits -5.03% off from its 50-day moving average of $74.63 and 1.18% far from the stock's 200-day moving average which is $72.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Somerset Trust Co now owns 6,059 shares of the textile maker's stock worth $453,000 after buying an additional 20 shares in the last quarter.

"[Foot Locker's] improving product offerings, excitement around Nike's National Basketball Association sponsorship, remodel lifts, and overall high engagement with customers should continue to drive results and share gains", Susquehanna analyst Sam Poser wrote in a note to investors Friday morning. (NYSE:FL) traded down 2.38% during trading on Monday, hitting $73.10. Finally, Canaccord Genuity upped their price objective on Foot Locker from $83.00 to $87.00 and gave the stock a "buy" rating in a research report on Wednesday, February 22nd.

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Net income for the company's first quarter ended April 29, 2017 was $180 million, or $1.36 per share, compared with net income of $191 million, or $1.39 per share in the year-ago period. Todd Asset Management LLC now owns 467,014 shares of the textile maker's stock worth $31,626,000 after buying an additional 147,267 shares in the last quarter.

On 5/16/2017 announced a quarterly dividend of $0.31 1.75% with an ex dividend date of 7/12/2017 which will be payable on 7/14/2017. $77.76's average target is 9.74% above currents $70.86 stock price.

Growth rates are very important while analyzing the long term growth and valuation of a certain company. Investors of record on Friday, July 14th will be issued a $0.31 dividend. The typical day in the last two weeks has seen about a 1.33% volatility. The ABR rank is displayed in the range of 1 to 5 where 1 represents a Strong Buy and 5 a Strong Sell. FMR LLC now owns 7,218,272 shares of the textile maker's stock valued at $511,703,000 after buying an additional 509,160 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of Foot Locker by 2.9% in the third quarter. State Street Corp raised its position in Foot Locker by 5.7% in the fourth quarter. Five analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. State of Alaska Department of Revenue now owns 17,768 shares of the textile maker's stock valued at $1,203,000 after buying an additional 1,024 shares during the period. The ratio is better, as 254 funds increased or started new stock positions, while 234 sold and trimmed stakes in Foot Locker Inc.

On 12/6/2016 Jarobin Gilbert Jr, Director, sold 1,000 with an average share price of $76.23 per share and the total transaction amounting to $76,230.00. Company insiders own 2.92% of the company's stock. The disclosure for this sale can be found here.

Out of the brokerage recommendations 14 rate Foot Locker, Inc. TURPIN CHERYL N also sold $152,340 worth of Foot Locker, Inc.

Net income in the quarter declined 4.9% to $298 million or 58 cents per diluted share from $268 million or 59 cents in the same quarter past year. The Firm is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.

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