Riverbridge Partners LLC Reduces Position in Floor & Decor Holdings, Inc. (NYSE:FND)
Riverbridge Partners LLC decreased its stake in shares of Floor & Decor Holdings, Inc. (NYSE:FND – Get Rating) by 3.1{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,004,538 shares of the company’s stock after selling 32,431 shares during the period. Riverbridge Partners LLC owned 0.95{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} of Floor & Decor worth $69,946,000 at the end of the most recent reporting period.
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Other hedge funds also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. grew its position in shares of Floor & Decor by 32.2{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} in the first 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 during the period. HighTower Advisors LLC grew its position in shares of Floor & Decor by 28.2{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} in the first quarter. HighTower Advisors LLC now owns 13,092 shares of the company’s stock valued at $1,062,000 after purchasing an additional 2,882 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Floor & Decor by 84.2{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} in the first quarter. PNC Financial Services Group Inc. now owns 9,055 shares of the company’s stock valued at $733,000 after purchasing an additional 4,138 shares during the period. Bank of Montreal Can grew its position in shares of Floor & Decor by 4.3{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} in the first quarter. Bank of Montreal Can now owns 11,755 shares of the company’s stock valued at $1,047,000 after purchasing an additional 490 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Floor & Decor by 273.9{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 789 shares of the company’s stock valued at $64,000 after purchasing an additional 578 shares during the period.
Wall Street Analyst Weigh In
FND has been the subject of a number of recent analyst reports. Robert W. Baird lifted their price objective on Floor & Decor from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, February 24th. Loop Capital lifted their price objective on Floor & Decor from $65.00 to $82.00 and gave the company a “hold” rating in a research report on Monday, February 27th. Piper Sandler lifted their price objective on Floor & Decor from $66.00 to $86.00 in a research report on Wednesday, February 15th. Telsey Advisory Group reduced their target price on Floor & Decor from $90.00 to $85.00 and set a “market perform” rating on the stock in a report on Friday, February 24th. Finally, Morgan Stanley lifted their target price on Floor & Decor from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, February 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $91.59.
Floor & Decor Price Performance
Shares of NYSE FND opened at $91.52 on Friday. The company has a quick ratio of 0.16, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. Floor & Decor Holdings, Inc. has a fifty-two week low of $59.91 and a fifty-two week high of $104.83. The business has a 50 day moving average price of $90.28 and a two-hundred day moving average price of $79.70. The firm has a market cap of $9.72 billion, a PE ratio of 33.04, a price-to-earnings-growth ratio of 1.53 and a beta of 1.82.
Floor & Decor (NYSE:FND – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.06. Floor & Decor had a net margin of 6.99{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} and a return on equity of 19.35{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d}. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the company earned $0.44 earnings per share. The business’s quarterly revenue was up 14.6{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} compared to the same quarter last year. Sell-side analysts expect that Floor & Decor Holdings, Inc. will post 2.74 earnings per share for the current fiscal year.
Insider Transactions at Floor & Decor
In other news, Director Richard L. Sullivan sold 1,734 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $91.94, for a total transaction of $159,423.96. Following the completion of the sale, the director now owns 9,189 shares of the company’s stock, valued at $844,836.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Richard L. Sullivan sold 1,734 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $91.94, for a total transaction of $159,423.96. Following the completion of the sale, the director now owns 9,189 shares of the company’s stock, valued at $844,836.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Victor Christopherson sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $92.00, for a total transaction of $368,000.00. Following the sale, the executive vice president now directly owns 56,527 shares of the company’s stock, valued at approximately $5,200,484. The disclosure for this sale can be found here. Corporate insiders own 2.70{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} of the company’s stock.
Floor & Decor Company Profile
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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