Russell Investments Group Ltd. decreased its holdings in Floor & Decor Holdings Inc (NYSE:FND) by 23.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,932 shares of the company’s stock after selling 3,921 shares during the quarter. Russell Investments Group Ltd.’s holdings in Floor & Decor were worth $503,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Toronto Dominion Bank acquired a new stake in Floor & Decor in the 2nd quarter worth about $157,000. Public Employees Retirement System of Ohio acquired a new stake in Floor & Decor in the 2nd quarter worth about $179,000. Principal Financial Group Inc. acquired a new stake in Floor & Decor in the 3rd quarter worth about $208,000. Balyasny Asset Management LLC acquired a new stake in Floor & Decor in the 2nd quarter worth about $212,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Floor & Decor in the 2nd quarter worth about $216,000. Institutional investors and hedge funds own 93.49% of the company’s stock.
In related news, EVP Brian K. Robbins sold 5,800 shares of Floor & Decor stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $45.00, for a total transaction of $261,000.00. Following the sale, the executive vice president now directly owns 8,441 shares of the company’s stock, valued at approximately $379,845. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian K. Robbins sold 9,600 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $41.20, for a total transaction of $395,520.00. Following the sale, the executive vice president now directly owns 13,160 shares in the company, valued at $542,192. The disclosure for this sale can be found here. Insiders have sold a total of 5,647,246 shares of company stock worth $201,948,218 over the last ninety days.
Floor & Decor (NYSE:FND) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. The company had revenue of $343.90 million for the quarter, compared to analyst estimates of $338.62 million. Floor & Decor had a net margin of 5.62% and a return on equity of 26.39%. The firm’s revenue was up 26.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 EPS. equities analysts forecast that Floor & Decor Holdings Inc will post 0.66 earnings per share for the current year.
Several analysts have weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Floor & Decor in a research note on Wednesday, December 13th. They issued a “buy” rating and a $51.00 price objective for the company. Zacks Investment Research raised shares of Floor & Decor from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Monday, November 6th. BMO Capital Markets raised their target price on shares of Floor & Decor from $41.00 to $45.00 and gave the company a “market perform” rating in a report on Monday, November 6th. Jefferies Group raised their target price on shares of Floor & Decor from $38.00 to $42.00 and gave the company a “hold” rating in a report on Friday, November 3rd. Finally, Credit Suisse Group raised their target price on shares of Floor & Decor from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Floor & Decor has a consensus rating of “Buy” and a consensus target price of $43.44.
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Floor & Decor Company Profile
Floor & Decor Holdings, Inc, formerly FDO Holdings, Inc, is a retailer of hard surface flooring and related accessories. The Company retails its products such as tile, stone, wood, marble, glass and decoratives. The Company has 72 stores across 17 states in the United States. The Company provides its products to customers, including professional installers and commercial businesses (Pro), Do it Yourself customers (DIY) and customers who buy the products for professional installation (Buy it Yourself or BIY).
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