Foot Locker Target of Unusually Large Options Trading (FL)
Foot Locker, Inc. (NYSE:FL) was the recipient of unusually large options trading on Thursday. Stock traders bought 276 put options on the company. This is an increase of approximately 136% compared to the typical volume of 117 put options.
Several brokerages have recently weighed in on FL. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $86.00 target price on shares of Foot Locker in a research note on Friday, April 21st. B. Riley reiterated a “buy” rating and set a $79.00 price target on shares of Foot Locker in a research report on Thursday, April 20th. Wedbush reiterated an “outperform” rating and set a $83.00 price target on shares of Foot Locker in a research report on Wednesday, May 17th. Standpoint Research started coverage on Foot Locker in a research report on Monday, June 12th. They set a “buy” rating and a $66.00 price target for the company. Finally, Piper Jaffray Companies set a $76.00 price target on Foot Locker and gave the stock a “hold” rating in a research report on Friday, February 24th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $74.62.
Foot Locker (NYSE:FL) opened at 47.82 on Thursday. The company’s 50-day moving average price is $63.30 and its 200 day moving average price is $70.57. Foot Locker has a 1-year low of $44.87 and a 1-year high of $79.43. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 9.81 and a beta of 0.63.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 14th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Wednesday, July 12th. Foot Locker’s dividend payout ratio (DPR) is presently 25.36%.
In other news, SVP Paulette Alviti sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $74.50, for a total transaction of $596,000.00. Following the completion of the transaction, the senior vice president now directly owns 36,641 shares of the company’s stock, valued at approximately $2,729,754.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jarobin Gilbert, Jr. sold 5,600 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $59.40, for a total value of $332,640.00. Following the transaction, the director now directly owns 8,964 shares of the company’s stock, valued at $532,461.60. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in Foot Locker by 130.0% in the first quarter. JPMorgan Chase & Co. now owns 698,340 shares of the athletic footwear retailer’s stock worth $52,244,000 after buying an additional 394,688 shares during the period. Todd Asset Management LLC increased its stake in Foot Locker by 34.3% in the first quarter. Todd Asset Management LLC now owns 582,371 shares of the athletic footwear retailer’s stock worth $43,567,000 after buying an additional 148,889 shares during the period. Marshall Wace LLP purchased a new stake in Foot Locker during the fourth quarter worth about $8,577,000. Russell Investments Group Ltd. increased its stake in Foot Locker by 6.6% in the first quarter. Russell Investments Group Ltd. now owns 138,739 shares of the athletic footwear retailer’s stock worth $10,382,000 after buying an additional 8,617 shares during the period. Finally, Alyeska Investment Group L.P. increased its stake in Foot Locker by 128.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 379,390 shares of the athletic footwear retailer’s stock worth $26,895,000 after buying an additional 213,424 shares during the period. 96.51% of the stock is owned by hedge funds and other institutional investors.
About Foot Locker
Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.
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