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


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Foot Locker, Inc. (NYSE:FL) saw some unusual options trading on Wednesday. Stock investors purchased 37,074 call options on the company. This is an increase of 1,878% compared to the typical volume of 1,874 call options.

Foot Locker stock opened at $46.28 on Thursday. The firm has a market capitalization of $4.82 billion, a P/E ratio of 13.77, a PEG ratio of 6.10 and a beta of 1.27. Foot Locker has a 1 year low of $17.46 and a 1 year high of $47.68. The business has a 50-day moving average of $40.99 and a 200-day moving average of $35.10. The company has a current ratio of 1.83, a quick ratio of 1.06 and a debt-to-equity ratio of 0.05.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Thursday, November 19th. The athletic footwear retailer reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.58. Foot Locker had a return on equity of 12.35% and a net margin of 4.66%. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Research analysts anticipate that Foot Locker will post 2.55 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Friday, January 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Thursday, January 14th. Foot Locker’s dividend payout ratio (DPR) is presently 12.17%.

In other Foot Locker news, CEO William Scott Martin sold 3,172 shares of Foot Locker stock in a transaction on Monday, October 26th. The stock was sold at an average price of $38.99, for a total transaction of $123,676.28. Following the completion of the transaction, the chief executive officer now directly owns 9,470 shares of the company’s stock, valued at $369,235.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Vesa Equity Investment S.A R.L acquired 509,575 shares of the business’s stock in a transaction on Tuesday, November 24th. The shares were bought at an average cost of $38.65 per share, with a total value of $19,695,073.75. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 1,817,532 shares of company stock valued at $69,490,833 and have sold 53,310 shares valued at $2,299,796. 2.40% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in FL. Simon Quick Advisors LLC bought a new position in shares of Foot Locker during the 3rd quarter valued at about $28,000. Paces Ferry Wealth Advisors LLC bought a new position in shares of Foot Locker in the 3rd quarter worth about $40,000. Private Advisor Group LLC bought a new position in shares of Foot Locker in the 2nd quarter worth about $50,000. Winslow Evans & Crocker Inc. increased its stake in shares of Foot Locker by 13.8% in the 3rd quarter. Winslow Evans & Crocker Inc. now owns 2,390 shares of the athletic footwear retailer’s stock worth $79,000 after acquiring an additional 290 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Foot Locker in the 3rd quarter worth about $111,000. Institutional investors and hedge funds own 78.87% of the company’s stock.

A number of analysts have recently weighed in on the company. Raymond James raised their target price on Foot Locker from $35.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, November 16th. Piper Sandler lowered Foot Locker from a “neutral” rating to an “underweight” rating and raised their target price for the company from $25.00 to $29.00 in a research note on Monday, November 23rd. Bank of America upgraded Foot Locker from an “underperform” rating to a “buy” rating and raised their target price for the company from $20.00 to $50.00 in a research note on Tuesday, October 13th. Zacks Investment Research upgraded Foot Locker from a “hold” rating to a “strong-buy” rating and set a $46.00 target price for the company in a research note on Tuesday, November 17th. Finally, Wells Fargo & Company raised their target price on Foot Locker from $37.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, November 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $40.29.

Foot Locker Company Profile

Foot Locker, Inc, through its subsidiaries, operates as an athletic footwear and apparel retailer. The company retails athletic footwear, apparel, accessories, and equipment under Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Eastbay, Footaction, Runners Point, and Sidestep brand names.

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