Victory Capital Management Inc. Sells 3,593 Shares of Floor & Decor Holdings, Inc. (NYSE:FND)

Posted by on Oct 28th, 2023

Victory Capital Management Inc. lessened its stake in shares of Floor & Decor Holdings, Inc. (NYSE:FND – Free Report) by 13.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,709 shares of the company’s stock after selling 3,593 shares during the quarter. Victory Capital Management Inc.’s holdings in Floor & Decor were worth $2,465,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of FND. Vanguard Group Inc. increased its holdings in Floor & Decor by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,098,053 shares of the company’s stock valued at $639,229,000 after purchasing an additional 56,747 shares in the last quarter. BlackRock Inc. increased its holdings in Floor & Decor by 21.4% during the 1st quarter. BlackRock Inc. now owns 7,948,493 shares of the company’s stock valued at $780,701,000 after purchasing an additional 1,401,173 shares in the last quarter. FMR LLC increased its holdings in Floor & Decor by 38.2% during the 1st quarter. FMR LLC now owns 3,661,808 shares of the company’s stock valued at $359,663,000 after purchasing an additional 1,012,206 shares in the last quarter. Wasatch Advisors Inc. increased its holdings in Floor & Decor by 0.9% during the 1st quarter. Wasatch Advisors Inc. now owns 3,306,234 shares of the company’s stock valued at $267,805,000 after purchasing an additional 28,689 shares in the last quarter. Finally, Baillie Gifford & Co. increased its holdings in Floor & Decor by 8,320.1% during the 1st quarter. Baillie Gifford & Co. now owns 2,584,646 shares of the company’s stock valued at $253,864,000 after purchasing an additional 2,553,950 shares in the last quarter.

Floor & Decor Stock Performance

FND opened at $77.57 on Friday. Floor & Decor Holdings, Inc. has a 52-week low of $63.51 and a 52-week high of $116.03. The firm has a market capitalization of $8.26 billion, a PE ratio of 29.05, a PEG ratio of 1.96 and a beta of 1.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.15 and a current ratio of 1.20. The business’s 50-day simple moving average is $90.67 and its 200 day simple moving average is $96.81.

Floor & Decor (NYSE:FND – Get Free Report) last released its earnings results on Thursday, August 3rd. The company reported $0.66 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.66. Floor & Decor had a return on equity of 16.94% and a net margin of 6.55%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. Floor & Decor’s revenue was up 4.2% on a year-over-year basis. As a group, sell-side analysts expect that Floor & Decor Holdings, Inc. will post 2.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Barclays lowered their target price on Floor & Decor from $88.00 to $80.00 and set an “underweight” rating for the company in a research note on Thursday, October 12th. Robert W. Baird lowered their target price on Floor & Decor from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, August 4th. Morgan Stanley lowered their target price on Floor & Decor from $100.00 to $95.00 and set an “equal weight” rating for the company in a research note on Friday, August 4th. Loop Capital upped their price objective on Floor & Decor from $82.00 to $100.00 and gave the company a “hold” rating in a report on Monday, August 7th. Finally, Citigroup downgraded Floor & Decor from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $122.00 to $90.00 in a report on Thursday, October 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $98.00.

Read Our Latest Report on Floor & Decor

Insider Buying and Selling

In related news, EVP Steven Alan Denny sold 6,381 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $103.59, for a total transaction of $661,007.79. Following the sale, the executive vice president now owns 12,419 shares in the company, valued at $1,286,484.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

Floor & Decor Profile

(Free Report)

Floor & Decor Holdings, Inc together with its subsidiaries, operates as a multi-channel specialty retailer and commercial flooring distributor in Georgia. The company offers tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative accessories, wall tiles, and installation materials and tools.

See Also

Want to see what other hedge funds are holding FND? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Floor & Decor Holdings, Inc. (NYSE:FND – Free Report).

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

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