Foot Locker Sees Unusually High Options Volume (NYSE:FL)

Foot Locker, Inc. (NYSE:FL - Get Free Report) saw some unusual options trading on Friday. Stock investors bought 17,557 call options on the stock. This represents an increase of 114% compared to the typical volume of 8,196 call options.

Foot Locker Stock Performance

Shares of NYSE FL traded down $0.14 during mid-day trading on Friday, hitting $23.61. The company had a trading volume of 1,998,666 shares, compared to its average volume of 3,222,071. The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15. Foot Locker has a 1 year low of $20.47 and a 1 year high of $35.60. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -6.10, a P/E/G ratio of 0.59 and a beta of 1.44. The stock's 50-day moving average price is $24.82 and its 200-day moving average price is $25.71.

Foot Locker (NYSE:FL - Get Free Report) last posted its earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.03. Foot Locker had a positive return on equity of 2.73% and a negative net margin of 4.48%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. On average, sell-side analysts forecast that Foot Locker will post 1.5 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on FL. Evercore ISI upped their target price on shares of Foot Locker from $34.00 to $38.00 and gave the stock an "outperform" rating in a research note on Monday, August 26th. Citigroup increased their price objective on shares of Foot Locker from $27.00 to $33.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. Morgan Stanley lowered Foot Locker from an "equal weight" rating to an "underweight" rating and reduced their target price for the company from $24.00 to $18.00 in a report on Thursday, July 18th. Piper Sandler restated a "neutral" rating and issued a $30.00 price objective on shares of Foot Locker in a research note on Friday, August 23rd. Finally, Gordon Haskett began coverage on Foot Locker in a research note on Monday, October 7th. They set an "accumulate" rating and a $27.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Foot Locker has a consensus rating of "Hold" and a consensus price target of $26.53.

Insider Activity

In other news, major shareholder Vesa Equity Investment S.A R.L sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $32.90, for a total value of $49,350.00. Following the completion of the sale, the insider now directly owns 11,402,353 shares of the company's stock, valued at $375,137,413.70. This represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 787,566 shares of company stock worth $26,090,866 in the last three months. Company insiders own 1.20% of the company's stock.

Institutional Trading of Foot Locker

Institutional investors and hedge funds have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. raised its holdings in shares of Foot Locker by 326.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 921,273 shares of the athletic footwear retailer's stock valued at $26,256,000 after buying an additional 705,237 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Foot Locker by 23.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer's stock valued at $72,279,000 after purchasing an additional 557,489 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Foot Locker during the 2nd quarter valued at $10,005,000. Stifel Financial Corp raised its position in Foot Locker by 43.3% in the 3rd quarter. Stifel Financial Corp now owns 897,904 shares of the athletic footwear retailer's stock worth $23,202,000 after purchasing an additional 271,297 shares during the period. Finally, Invenomic Capital Management LP lifted its stake in Foot Locker by 54.3% in the first quarter. Invenomic Capital Management LP now owns 752,320 shares of the athletic footwear retailer's stock worth $21,441,000 after purchasing an additional 264,598 shares during the last quarter.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.