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

Foot Locker, Inc. (NYSE:FL) was the target of unusually large options trading on Friday. Stock investors purchased 17,557 call options on the company. This represents an increase of approximately 114% compared to the typical volume of 8,196 call options.

Foot Locker Trading Down 0.6 %

Shares of FL stock opened at $23.61 on Friday. The stock has a 50-day simple moving average of $24.82 and a 200 day simple moving average of $25.71. The stock has a market capitalization of $2.24 billion, a P/E ratio of -6.10, a P/E/G ratio of 0.59 and a beta of 1.44. Foot Locker has a fifty-two week low of $20.47 and a fifty-two week high of $35.60. The company has a quick ratio of 0.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.15.

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

Analyst Ratings Changes

Several research analysts recently commented on the company. Barclays upgraded Foot Locker from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $27.00 to $34.00 in a research note on Thursday, August 29th. Telsey Advisory Group reiterated a “market perform” rating and set a $27.00 target price on shares of Foot Locker in a research note on Wednesday, August 28th. StockNews.com cut shares of Foot Locker from a “hold” rating to a “sell” rating in a report on Friday, September 20th. Gordon Haskett assumed coverage on shares of Foot Locker in a report on Monday, October 7th. They set an “accumulate” rating and a $27.00 price objective for the company. Finally, Robert W. Baird dropped their target price on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Four investment 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.53.

Insider Transactions at Foot Locker

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 1,500 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $32.90, for a total transaction of $49,350.00. Following the transaction, the insider now owns 11,402,353 shares in the company, valued at $375,137,413.70. The trade was 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. In the last quarter, insiders sold 787,566 shares of company stock worth $26,090,866. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new position in Foot Locker during the 2nd quarter valued at about $31,000. Fifth Third Bancorp grew its position in Foot Locker by 116.0% during the second quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock valued at $34,000 after purchasing an additional 733 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Foot Locker by 156.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after buying an additional 985 shares during the period. Headlands Technologies LLC purchased a new stake in Foot Locker in the 2nd quarter worth approximately $43,000. Finally, nVerses Capital LLC acquired a new stake in shares of Foot Locker during the 3rd quarter valued at $47,000.

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.