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

Foot Locker, Inc. (NYSE:FL) was the recipient of some unusual options trading on Tuesday. Investors purchased 11,770 put options on the stock. This represents an increase of 447% compared to the typical volume of 2,150 put options.

In other Foot Locker news, Director Jarobin Gilbert, Jr. sold 5,600 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were 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 directly owns 8,964 shares of the company’s stock, valued at approximately $532,461.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.90% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in FL. Norinchukin Bank The raised its position in Foot Locker by 273.1% in the second quarter. Norinchukin Bank The now owns 32,094 shares of the athletic footwear retailer’s stock worth $1,582,000 after buying an additional 23,493 shares during the period. Bridgewater Associates LP raised its position in Foot Locker by 158.1% in the second quarter. Bridgewater Associates LP now owns 228,939 shares of the athletic footwear retailer’s stock worth $11,282,000 after buying an additional 140,253 shares during the period. Seven Eight Capital LP purchased a new position in Foot Locker during the second quarter worth approximately $2,018,000. Empirical Finance LLC raised its position in Foot Locker by 0.7% in the second quarter. Empirical Finance LLC now owns 31,054 shares of the athletic footwear retailer’s stock worth $1,531,000 after buying an additional 205 shares during the period. Finally, Paradigm Capital Management Inc. NY raised its position in Foot Locker by 3.2% in the second quarter. Paradigm Capital Management Inc. NY now owns 80,150 shares of the athletic footwear retailer’s stock worth $3,950,000 after buying an additional 2,450 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

A number of equities analysts have weighed in on the stock. B. Riley reissued a “buy” rating and issued a $79.00 price objective on shares of Foot Locker in a research report on Wednesday, May 17th. Jefferies Group LLC reissued a “buy” rating and issued a $88.00 price objective on shares of Foot Locker in a research report on Friday, April 21st. Canaccord Genuity set a $75.00 price objective on shares of Foot Locker and gave the company a “buy” rating in a research report on Saturday, May 20th. Piper Jaffray Companies set a $60.00 price objective on shares of Foot Locker and gave the company a “hold” rating in a research report on Saturday, May 20th. Finally, Cowen and Company decreased their price objective on shares of Foot Locker from $77.00 to $64.00 and set a “market perform” rating for the company in a research report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $72.92.

Shares of Foot Locker (NYSE FL) opened at 49.09 on Friday. The firm has a 50 day moving average of $48.30 and a 200 day moving average of $64.23. The firm has a market cap of $6.45 billion, a price-to-earnings ratio of 10.07 and a beta of 0.68. Foot Locker has a 52 week low of $44.59 and a 52 week high of $79.43.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 14th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $1.24 annualized dividend and a dividend yield of 2.53%. Foot Locker’s dividend payout ratio (DPR) is currently 25.36%.

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Foot Locker Company Profile

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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