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

Foot Locker, Inc. (NYSE:FL - Get Free Report) was the target of unusually large options trading on Monday. Stock traders purchased 11,057 put options on the stock. This is an increase of approximately 47% compared to the typical volume of 7,506 put options.

Foot Locker Trading Down 5.6 %

Shares of FL traded down $0.96 during mid-day trading on Tuesday, reaching $16.22. The company had a trading volume of 5,400,861 shares, compared to its average volume of 3,273,831. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of -3.60, a price-to-earnings-growth ratio of 0.53 and a beta of 1.55. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $19.51 and a 200-day simple moving average of $22.84. Foot Locker has a fifty-two week low of $15.89 and a fifty-two week high of $33.94.

Foot Locker (NYSE:FL - Get Free Report) last issued its 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. The firm had revenue of $2.25 billion for the quarter, compared to analysts' expectations of $2.32 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The firm's revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 earnings per share. On average, sell-side analysts anticipate that Foot Locker will post 1.23 EPS for the current fiscal year.

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Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Robert W. Baird lowered their price objective on shares of Foot Locker from $24.00 to $20.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th. Morgan Stanley lowered their price target on shares of Foot Locker from $17.00 to $16.00 and set an "underweight" rating on the stock in a research report on Friday, December 6th. Piper Sandler dropped their price objective on Foot Locker from $23.00 to $19.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Needham & Company LLC restated a "buy" rating and issued a $24.00 target price on shares of Foot Locker in a report on Wednesday, March 5th. Finally, Jefferies Financial Group decreased their price target on shares of Foot Locker from $22.00 to $19.00 and set a "hold" rating on the stock in a research note on Wednesday, March 5th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Foot Locker has a consensus rating of "Hold" and a consensus target price of $22.81.

Institutional Trading of Foot Locker

A number of institutional investors have recently modified their holdings of FL. Allspring Global Investments Holdings LLC lifted its position in 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 valued at $115,365,000 after buying an additional 2,500,396 shares in the last quarter. Cramer Rosenthal Mcglynn LLC acquired a new position in shares of Foot Locker during the 4th quarter valued at $34,835,000. Cooper Creek Partners Management LLC purchased a new stake in Foot Locker during the 4th quarter worth $30,416,000. Segall Bryant & Hamill LLC acquired a new stake in Foot Locker in the 4th quarter valued at $18,640,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Foot Locker by 67.9% in the 4th 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 purchasing an additional 770,932 shares in 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.