Stock Traders Purchase High Volume of Put Options on Foot Locker (NYSE:FL)

Foot Locker, Inc. (NYSE:FL - Get Free Report) was the target of unusually large options trading activity on Friday. Traders acquired 18,397 put options on the company. This is an increase of 129% compared to the typical daily volume of 8,029 put options.

Foot Locker Stock Up 0.5 %

Shares of NYSE:FL traded up $0.08 during midday trading on Tuesday, hitting $14.18. 3,708,091 shares of the company's stock traded hands, compared to its average volume of 3,313,747. The firm's fifty day moving average price is $18.03 and its two-hundred day moving average price is $21.57. The company has a market cap of $1.35 billion, a PE ratio of -3.14, a P/E/G ratio of 0.53 and a beta of 1.55. Foot Locker has a twelve month low of $13.90 and a twelve month high of $33.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67.

Foot Locker (NYSE:FL - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.13. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period last year, the business earned $0.38 EPS. The business's revenue was down 5.7% on a year-over-year basis. On average, equities research analysts anticipate that Foot Locker will post 1.23 EPS for the current fiscal year.

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Analyst Upgrades and Downgrades

Several analysts recently commented on FL shares. Barclays set a $24.00 price objective on shares of Foot Locker in a research note on Wednesday, March 5th. Robert W. Baird reduced their price target on shares of Foot Locker from $24.00 to $20.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Telsey Advisory Group restated a "market perform" rating and issued a $24.00 price target on shares of Foot Locker in a report on Wednesday, March 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $24.00 price objective on shares of Foot Locker in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group decreased their target price on Foot Locker from $25.00 to $22.00 and set a "sell" rating on the stock in a research report on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Foot Locker has a consensus rating of "Hold" and a consensus target price of $22.81.

Institutional Investors Weigh In On Foot Locker

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its position in shares of Foot Locker by 88.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer's stock worth $115,365,000 after buying an additional 2,500,396 shares in the last quarter. Cramer Rosenthal Mcglynn LLC acquired a new stake in shares of Foot Locker in the 4th quarter valued at about $34,835,000. Cooper Creek Partners Management LLC bought a new position in shares of Foot Locker during the fourth quarter worth about $30,416,000. Segall Bryant & Hamill LLC acquired a new position in Foot Locker in the fourth quarter worth about $18,640,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Foot Locker by 67.9% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,906,406 shares of the athletic footwear retailer's stock valued at $41,483,000 after buying an additional 770,932 shares during the last quarter.

Foot Locker Company Profile

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.