First Trust Advisors LP Grows Stock Position in Floor & Decor Holdings, Inc. (NYSE:FND)

Posted by on May 27th, 2023

First Trust Advisors LP raised its holdings in Floor & Decor Holdings, Inc. (NYSE:FND – Get Rating) by 162.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 90,832 shares of the company’s stock after buying an additional 56,248 shares during the quarter. First Trust Advisors LP owned about 0.09% of Floor & Decor worth $6,325,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PARK CIRCLE Co purchased a new position in shares of Floor & Decor in the third quarter worth about $28,000. FourThought Financial LLC raised its stake in shares of Floor & Decor by 47.9% in the third quarter. FourThought Financial LLC now owns 463 shares of the company’s stock worth $33,000 after purchasing an additional 150 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in shares of Floor & Decor in the fourth quarter worth about $35,000. Standard Family Office LLC purchased a new position in shares of Floor & Decor in the third quarter worth about $48,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of Floor & Decor in the fourth quarter worth about $51,000.

Insider Buying and Selling

In other Floor & Decor news, EVP David Victor Christopherson sold 4,000 shares of the company’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 completion of the sale, the executive vice president now directly owns 56,527 shares in the company, valued at approximately $5,200,484. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Floor & Decor news, Director Richard L. Sullivan sold 1,734 shares of the company’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $91.94, for a total value of $159,423.96. Following the completion of the sale, the director now directly owns 9,189 shares in the company, valued at approximately $844,836.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP David Victor Christopherson sold 4,000 shares of the company’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $92.00, for a total value of $368,000.00. Following the completion of the sale, the executive vice president now owns 56,527 shares of the company’s stock, valued at $5,200,484. The disclosure for this sale can be found here. 2.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FND has been the subject of several research analyst reports. Loop Capital raised their price objective on Floor & Decor from $65.00 to $82.00 and gave the stock a “hold” rating in a research note on Monday, February 27th. Citigroup reduced their price target on Floor & Decor from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, March 3rd. Gordon Haskett cut Floor & Decor from an “accumulate” rating to a “hold” rating and set a $90.00 price target for the company. in a research report on Friday, February 10th. Barclays began coverage on Floor & Decor in a research report on Tuesday, February 7th. They set an “underweight” rating and a $88.00 price target for the company. Finally, Telsey Advisory Group reduced their price target on 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Floor & Decor has an average rating of “Hold” and a consensus price target of $92.00.

Floor & Decor Stock Up 3.8 %

Shares of FND opened at $91.79 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.15 and a current ratio of 1.32. Floor & Decor Holdings, Inc. has a one year low of $59.91 and a one year high of $102.61. The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 1.59 and a beta of 1.86. The stock has a 50 day moving average price of $94.69 and a 200 day moving average price of $86.88.

Floor & Decor (NYSE:FND – Get Rating) last issued its quarterly earnings results on Thursday, May 4th. The company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). Floor & Decor had a return on equity of 18.37% and a net margin of 6.86%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the firm posted $0.67 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts forecast that Floor & Decor Holdings, Inc. will post 2.66 earnings per share for the current fiscal 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.

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Institutional Ownership by Quarter for Floor & Decor (NYSE:FND)

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