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

Foot Locker, Inc. (NYSE:FL) saw some unusual options trading on Friday. Stock investors purchased 18,397 put options on the stock. This is an increase of 129% compared to the typical daily volume of 8,029 put options.

Foot Locker Trading Down 4.9 %

FL opened at $14.52 on Friday. Foot Locker has a 1-year low of $14.34 and a 1-year high of $33.94. The stock has a market capitalization of $1.38 billion, a PE ratio of -3.22, a PEG 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 50-day moving average price of $18.15 and a two-hundred day moving average price of $21.69.

Foot Locker (NYSE:FL) last issued 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 quarter last year, the business posted $0.38 earnings per share. Foot Locker’s revenue for the quarter was down 5.7% compared to the same quarter last year. As a group, equities analysts anticipate that Foot Locker will post 1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Foot Locker

Several large investors have recently made changes to their positions in FL. Public Employees Retirement System of Ohio lifted its position in Foot Locker by 173.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 112,028 shares of the athletic footwear retailer’s stock valued at $2,438,000 after purchasing an additional 71,083 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Foot Locker by 17.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,466 shares of the athletic footwear retailer’s stock valued at $5,733,000 after buying an additional 39,232 shares during the period. Voloridge Investment Management LLC boosted its stake in Foot Locker by 66.8% in the fourth quarter. Voloridge Investment Management LLC now owns 737,299 shares of the athletic footwear retailer’s stock valued at $16,044,000 after acquiring an additional 295,243 shares during the last quarter. Vision One Management Partners LP acquired a new stake in Foot Locker during the 4th quarter worth $1,205,000. Finally, Twinbeech Capital LP bought a new stake in shares of Foot Locker during the 4th quarter valued at $5,715,000.

Analysts Set New Price Targets

A number of brokerages have weighed in on FL. The Goldman Sachs Group reduced their price target on shares of Foot Locker from $25.00 to $22.00 and set a “sell” rating for the company in a report on Thursday, December 5th. Robert W. Baird reduced their target price on shares of Foot Locker from $24.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Guggenheim decreased their target price 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. JPMorgan Chase & Co. cut their price target on Foot Locker from $23.00 to $20.00 and set an “underweight” rating for the company in a report on Friday, January 24th. Finally, Barclays set a $24.00 price objective on Foot Locker in a report on Wednesday, March 5th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.81.

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.