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

Foot Locker, Inc. (NYSE:FL) was the recipient of some unusual options trading on Monday. Investors bought 11,057 put options on the stock. This represents an increase of 47% compared to the typical daily volume of 7,506 put options.

Analysts Set New Price Targets

FL has been the topic of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Foot Locker from $23.00 to $20.00 and set an “underweight” rating on the stock in a research note on Friday, January 24th. Barclays lowered their price target on shares of Foot Locker from $34.00 to $29.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Piper Sandler reduced their price objective on Foot Locker from $23.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday. Williams Trading raised Foot Locker from a “sell” rating to a “hold” rating and boosted their target price for the company from $17.00 to $21.00 in a research note on Wednesday, November 27th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $24.00 price target on shares of Foot Locker in a research report on Wednesday, March 5th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $23.13.

Foot Locker Stock Down 7.4 %

NYSE FL traded down $1.38 during trading hours on Monday, reaching $17.28. 2,856,734 shares of the company’s stock traded hands, compared to its average volume of 3,249,965. Foot Locker has a 52-week low of $16.92 and a 52-week high of $33.94. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45. The firm has a 50-day simple moving average of $19.72 and a 200 day simple moving average of $23.07. The firm has a market cap of $1.64 billion, a PE ratio of -3.82, a PEG ratio of 0.53 and a beta of 1.55.

Foot Locker (NYSE:FL) last issued its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 EPS for the quarter, topping 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 business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 EPS. Sell-side analysts anticipate that Foot Locker will post 1.23 EPS for the current fiscal year.

Institutional Trading of Foot Locker

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its stake in shares of Foot Locker by 88.6% during the 4th 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 purchasing an additional 2,500,396 shares during the period. Cramer Rosenthal Mcglynn LLC bought a new position in Foot Locker in the 4th quarter worth approximately $34,835,000. Cooper Creek Partners Management LLC purchased a new stake in Foot Locker during the 4th quarter valued at approximately $30,416,000. Segall Bryant & Hamill LLC bought a new stake in shares of Foot Locker during the fourth quarter valued at approximately $18,640,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of 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 worth $41,483,000 after buying 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.