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Unusual Put Option Trade in Foot Locker Worth $538.2K
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On June 1, 2023 at 09:30:43 ET an unusually large $538.20K block of Put contracts in Foot Locker (FL) was bought, with a strike price of $20.00 / share, expiring in 596 day(s) (on January 17, 2025). Fintel tracks all large options trades, and the premium spent on this trade was 1.11 sigmas above the mean, placing it in the 87.56th percentile of all recent large trades made in FL options.
This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.
What is the Fund Sentiment?
There are 767 funds or institutions reporting positions in Foot Locker. This is an increase of 47 owner(s) or 6.53% in the last quarter. Average portfolio weight of all funds dedicated to FL is 0.19%, an increase of 8.13%. Total shares owned by institutions increased in the last three months by 13.56% to 115,073K shares. The put/call ratio of FL is 1.48, indicating a bearish outlook.
Analyst Price Forecast Suggests 77.03% Upside
As of May 10, 2023, the average one-year price target for Foot Locker is 44.82. The forecasts range from a low of 30.30 to a high of $63.00. The average price target represents an increase of 77.03% from its latest reported closing price of 25.32.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Foot Locker is 8,611MM, an increase of 1.16%. The projected annual non-GAAP EPS is 4.34.
What are Other Shareholders Doing?
Vesa Equity Investment S.a r.l. holds 11,469K shares representing 12.28% ownership of the company. No change in the last quarter.
Lsv Asset Management holds 4,274K shares representing 4.57% ownership of the company. In it’s prior filing, the firm reported owning 4,341K shares, representing a decrease of 1.56%. The firm increased its portfolio allocation in FL by 5.18% over the last quarter.
Macquarie Group holds 3,678K shares representing 3.94% ownership of the company. In it’s prior filing, the firm reported owning 49K shares, representing an increase of 98.67%. The firm increased its portfolio allocation in FL by 6,477.28% over the last quarter.
FLPSX – Fidelity Low-Priced Stock Fund holds 3,594K shares representing 3.85% ownership of the company. In it’s prior filing, the firm reported owning 6,500K shares, representing a decrease of 80.88%. The firm decreased its portfolio allocation in FL by 29.34% over the last quarter.
Goldman Sachs Group holds 3,035K shares representing 3.25% ownership of the company. In it’s prior filing, the firm reported owning 2,186K shares, representing an increase of 27.98%. The firm decreased its portfolio allocation in FL by 59.63% over the last quarter.
Foot Locker Declares $0.40 Dividend
On May 17, 2023 the company declared a regular quarterly dividend of $0.40 per share ($1.60 annualized). Shareholders of record as of July 14, 2023 will receive the payment on July 28, 2023. Previously, the company paid $0.40 per share.
At the current share price of $25.32 / share, the stock’s dividend yield is 6.32%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.40%, the lowest has been 1.19%, and the highest has been 8.78%. The standard deviation of yields is 1.53 (n=236).
The current dividend yield is 1.91 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.61. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
Foot Locker Background Information
(This description is provided by the company.)
Foot Locker, Inc. leads the celebration of sneaker and youth culture around the globe through a portfolio of brands including Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Eastbay, Footaction, and Sidestep. With approximately 3,000 retail stores in 27 countries across North America, Europe, Asia, Australia, and New Zealand, as well as websites and mobile apps, the Company’s purpose is to inspire and empower youth culture around the world, by fueling a shared passion for self-expression and creating unrivaled experiences at the heart of the global sneaker community. Foot Locker, Inc. has its corporate headquarters in New York.
Key filings for this company:
This article originally appeared on Fintel
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