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

Foot Locker, Inc. (NYSE:FL) saw unusually large options trading on Tuesday. Stock traders acquired 11,770 put options on the company. This is an increase of approximately 447% compared to the average daily volume of 2,150 put options.

Foot Locker (FL) opened at 49.30 on Friday. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of 10.11 and a beta of 0.68. Foot Locker has a 12 month low of $44.59 and a 12 month high of $79.43. The company has a 50-day moving average price of $48.35 and a 200 day moving average price of $64.09.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 14th were issued a $0.31 dividend. The ex-dividend date was Wednesday, July 12th. This represents a $1.24 annualized dividend and a yield of 2.52%. Foot Locker’s dividend payout ratio (DPR) is presently 25.36%.

In related news, Director Jarobin Gilbert, Jr. sold 5,600 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $59.40, for a total value of $332,640.00. Following the completion of the transaction, the director now owns 8,964 shares of the company’s stock, valued at approximately $532,461.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of FL. JPMorgan Chase & Co. increased its position in shares of Foot Locker by 130.0% in the first quarter. JPMorgan Chase & Co. now owns 698,340 shares of the athletic footwear retailer’s stock valued at $52,244,000 after buying an additional 394,688 shares during the period. Todd Asset Management LLC increased its position in shares of 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 valued at $43,567,000 after buying an additional 148,889 shares during the period. Omega Advisors Inc. acquired a new position in shares of Foot Locker during the first quarter valued at $11,222,000. Russell Investments Group Ltd. increased its position in shares of 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 valued at $10,382,000 after buying an additional 8,617 shares during the period. Finally, BlackRock Inc. increased its position in shares of Foot Locker by 2,189.3% in the first quarter. BlackRock Inc. now owns 9,163,944 shares of the athletic footwear retailer’s stock valued at $685,553,000 after buying an additional 8,763,641 shares during the period. Institutional investors own 94.45% of the company’s stock.

FL has been the subject of a number of analyst reports. Barclays PLC reaffirmed an “overweight” rating and issued a $80.00 price target on shares of Foot Locker in a report on Thursday, June 22nd. Oppenheimer Holdings, Inc. initiated coverage on Foot Locker in a report on Friday, July 7th. They issued a “market perform” rating for the company. BidaskClub raised Foot Locker from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Credit Suisse Group reaffirmed a “neutral” rating and issued a $52.00 price target (down previously from $66.00) on shares of Foot Locker in a report on Tuesday, August 1st. Finally, Jefferies Group LLC set a $80.00 price target on Foot Locker and gave the stock a “buy” rating in a report on Tuesday, June 20th. Ten analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Foot Locker presently has a consensus rating of “Buy” and an average target price of $72.92.

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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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