Stormborn Capital Management LLC Acquires Shares of 75,000 Floor & Decor Holdings, Inc. (NYSE:FND)
Stormborn Capital Management LLC acquired a new stake in shares of Floor & Decor Holdings, Inc. (NYSE:FND – Get Rating) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 75,000 shares of the company’s stock, valued at approximately $5,270,000. Floor & Decor makes up about 2.3{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} of Stormborn Capital Management LLC’s holdings, making the stock its 21st biggest position. Stormborn Capital Management LLC owned about 0.07{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} of Floor & Decor as of its most recent filing with the SEC.
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A number of other institutional investors have also added to or reduced their stakes in FND. Cambridge Investment Research Advisors Inc. grew its holdings in Floor & Decor by 32.2{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,652 shares of the company’s stock valued at $539,000 after buying an additional 1,619 shares in the last quarter. HighTower Advisors LLC grew its holdings in Floor & Decor by 28.2{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} during the 1st quarter. HighTower Advisors LLC now owns 13,092 shares of the company’s stock valued at $1,062,000 after buying an additional 2,882 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Floor & Decor by 84.2{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} during the 1st quarter. PNC Financial Services Group Inc. now owns 9,055 shares of the company’s stock valued at $733,000 after buying an additional 4,138 shares in the last quarter. Bank of Montreal Can grew its holdings in Floor & Decor by 4.3{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} during the 1st quarter. Bank of Montreal Can now owns 11,755 shares of the company’s stock valued at $1,047,000 after buying an additional 490 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Floor & Decor by 273.9{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} 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 buying an additional 578 shares in the last quarter.
Floor & Decor Trading Up 1.0 {a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d}
Shares of NYSE:FND traded up $0.91 on Thursday, hitting $89.69. 56,198 shares of the company’s stock were exchanged, compared to its average volume of 1,568,416. 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 $9.52 billion, a price-to-earnings ratio of 32.05, a price-to-earnings-growth ratio of 1.49 and a beta of 1.82. The business’s 50 day simple moving average is $87.66 and its two-hundred day simple moving average is $79.52. 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 released its earnings results on Thursday, February 23rd. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.06. Floor & Decor had a return on equity of 19.35{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} and a net margin of 6.99{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d}. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was up 14.6{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} compared to the same quarter last year. Analysts anticipate that Floor & Decor Holdings, Inc. will post 2.74 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
FND has been the subject of a number of recent research reports. Citigroup cut their target price on shares of Floor & Decor from $115.00 to $110.00 and set a “buy” rating for the company in a report on Friday, March 3rd. Robert W. Baird raised their target price on shares of Floor & Decor from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, February 24th. Gordon Haskett lowered shares of Floor & Decor from an “accumulate” rating to a “hold” rating and set a $90.00 target price for the company. in a report on Friday, February 10th. Credit Suisse Group initiated coverage on shares of Floor & Decor in a report on Monday, December 19th. They issued a “neutral” rating and a $80.00 target price for the company. Finally, Morgan Stanley raised their target price on shares of 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 assigned a buy rating to the company’s stock. According to MarketBeat, Floor & Decor currently has a consensus rating of “Hold” and a consensus price target of $94.06.
Insider Transactions at Floor & Decor
In other news, EVP David Victor Christopherson sold 4,000 shares of Floor & Decor stock in a transaction 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 completion of 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 filing with the SEC, which can be accessed through the SEC website. In related news, EVP David Victor Christopherson sold 4,000 shares of Floor & Decor stock in a transaction dated 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 $5,200,484. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard L. Sullivan sold 1,734 shares of Floor & Decor stock in a transaction dated Tuesday, February 28th. The shares were 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 owns 9,189 shares of the company’s stock, valued at $844,836.66. The disclosure for this sale can be found here. Corporate insiders own 2.70{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} of the company’s stock.
About Floor & Decor
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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