Foot Locker Target of Unusually Large Options Trading (NYSE:FL)

Foot Locker, Inc. (NYSE:FL) saw unusually large options trading on Friday. Stock traders bought 18,397 put options on the stock. This is an increase of approximately 129% compared to the average volume of 8,029 put options.

Hedge Funds Weigh In On Foot Locker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbour Investments Inc. increased its stake in shares of Foot Locker by 81.6% during the 4th quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock worth $31,000 after purchasing an additional 648 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Foot Locker in the fourth quarter worth $32,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Foot Locker in the third quarter valued at $58,000. R Squared Ltd purchased a new stake in shares of Foot Locker in the fourth quarter valued at $50,000. Finally, Sterling Capital Management LLC increased its position in Foot Locker by 819.2% during the 4th quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer’s stock worth $57,000 after purchasing an additional 2,343 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FL shares. Robert W. Baird decreased their price objective on Foot Locker from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. UBS Group lowered their price objective on shares of Foot Locker from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Evercore ISI decreased their target price on shares of Foot Locker from $30.00 to $22.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Guggenheim dropped their price target on Foot Locker from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Finally, Morgan Stanley reduced their price objective on Foot Locker from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, December 6th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.81.

Foot Locker Price Performance

Foot Locker stock traded down $0.88 during mid-day trading on Friday, reaching $14.39. The company had a trading volume of 2,159,871 shares, compared to its average volume of 3,300,641. The stock’s 50-day simple moving average is $18.27 and its 200-day simple moving average is $21.77. Foot Locker has a 1 year low of $14.35 and a 1 year 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 company has a market capitalization of $1.37 billion, a P/E ratio of -3.20, a P/E/G ratio of 0.53 and a beta of 1.55.

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

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.