Ensign Peak Advisors Inc Trims Holdings in Floor & Decor Holdings, Inc. (NYSE:FND)

Posted by Defense World Staff on Mar 10th, 2023

Ensign Peak Advisors Inc trimmed its position in Floor & Decor Holdings, Inc. (NYSE:FND – Get Rating) by 70.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,570 shares of the company’s stock after selling 63,791 shares during the period. Ensign Peak Advisors Inc’s holdings in Floor & Decor were worth $1,867,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FND. Cambridge Investment Research Advisors Inc. lifted its holdings in Floor & Decor by 32.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,652 shares of the company’s stock valued at $539,000 after purchasing an additional 1,619 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of Floor & Decor by 28.2% during the 1st quarter. HighTower Advisors LLC now owns 13,092 shares of the company’s stock valued at $1,062,000 after acquiring an additional 2,882 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Floor & Decor by 84.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,055 shares of the company’s stock valued at $733,000 after acquiring an additional 4,138 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Floor & Decor by 4.3% during the 1st quarter. Bank of Montreal Can now owns 11,755 shares of the company’s stock valued at $1,047,000 after acquiring an additional 490 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Floor & Decor by 273.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 789 shares of the company’s stock valued at $64,000 after acquiring an additional 578 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Barclays started coverage on shares of Floor & Decor in a research note on Tuesday, February 7th. They set an “underweight” rating and a $88.00 price objective for the company. Sanford C. Bernstein started coverage on shares of Floor & Decor in a research report on Tuesday, December 6th. They set an “outperform” rating and a $112.00 target price for the company. Telsey Advisory Group dropped their target price on shares of Floor & Decor from $90.00 to $85.00 and set a “market perform” rating for the company in a research report on Friday, February 24th. Citigroup dropped their target price on shares of Floor & Decor from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, March 3rd. Finally, Morgan Stanley increased their target price on shares of Floor & Decor from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, February 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $94.06.

Insider Buying and Selling at Floor & Decor

In other Floor & Decor news, EVP David Victor Christopherson sold 4,000 shares of the firm’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $92.00, for a total value of $368,000.00. Following the sale, the executive vice president now directly owns 56,527 shares in the company, valued at $5,200,484. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Floor & Decor news, EVP David Victor Christopherson sold 4,000 shares of the firm’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $92.00, for a total value of $368,000.00. Following the sale, the executive vice president now directly owns 56,527 shares in the company, valued at $5,200,484. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard L. Sullivan sold 1,734 shares of the firm’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $91.94, for a total value of $159,423.96. Following the transaction, the director now directly owns 9,189 shares in the company, valued at $844,836.66. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.

Floor & Decor Stock Performance

Shares of FND opened at $85.73 on Friday. The business’s fifty day moving average price is $88.36 and its 200 day moving average price is $79.63. Floor & Decor Holdings, Inc. has a 12-month low of $59.91 and a 12-month high of $104.83. The stock has a market capitalization of $9.10 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 1.49 and a beta of 1.82. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.16.

Floor & Decor (NYSE:FND – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.06. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Floor & Decor had a return on equity of 19.35% and a net margin of 6.99%. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period last year, the business posted $0.44 earnings per share. Equities research analysts forecast that Floor & Decor Holdings, Inc. will post 2.74 EPS for the current year.

About Floor & Decor

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Floor & Decor Holdings, Inc engages in the retail of hard surface flooring and related accessories. It provides wood, stone, and flooring products. Its products include vinyl, laminate, and tiles with materials installation for living rooms, kitchen, bathrooms, and walls. The company was founded by George Vincent West in 2000 and is headquartered in Atlanta, GA.