Traders Buy Large Volume of Call Options on Foot Locker (NYSE:FL)

Foot Locker, Inc. (NYSE:FL) saw unusually large options trading activity on Friday. Stock investors acquired 17,557 call options on the company. This is an increase of 114% compared to the average daily volume of 8,196 call options.

Foot Locker Trading Down 0.6 %

Foot Locker stock opened at $23.60 on Friday. The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average price is $24.82 and its two-hundred day moving average price is $25.74. Foot Locker has a twelve month low of $20.47 and a twelve month high of $35.60.

Foot Locker (NYSE:FL) last posted its earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate 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, analysts forecast that Foot Locker will post 1.5 EPS for the current year.

Insider Transactions at Foot Locker

In other news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $32.93, for a total value of $8,129,955.98. Following the completion of the sale, the insider now directly owns 11,146,292 shares of the company’s stock, valued at approximately $367,047,395.56. This represents a 2.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 787,566 shares of company stock valued at $26,090,866. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Foot Locker

Large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new stake in Foot Locker in the first quarter worth approximately $2,194,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Foot Locker during the 1st quarter worth $2,670,000. Renaissance Technologies LLC bought a new stake in shares of Foot Locker during the 2nd quarter worth $1,024,000. Interval Partners LP bought a new stake in shares of Foot Locker during the 1st quarter worth $5,700,000. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of Foot Locker by 8.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 25,480 shares of the athletic footwear retailer’s stock worth $726,000 after buying an additional 2,030 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FL shares. StockNews.com downgraded shares of Foot Locker from a “hold” rating to a “sell” rating in a report on Friday, September 20th. Piper Sandler reiterated a “neutral” rating and issued a $30.00 target price on shares of Foot Locker in a report on Friday, August 23rd. Robert W. Baird dropped their target price on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Citigroup boosted their target price on shares of Foot Locker from $27.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Barclays upgraded shares of Foot Locker from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $27.00 to $34.00 in a report on Thursday, August 29th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Foot Locker presently has an average rating of “Hold” and a consensus target price of $26.53.

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.