Columbus Circle Investors Grows Holdings in Floor & Decor Holdings (FND)

Columbus Circle Investors grew its stake in Floor & Decor Holdings (NYSE:FND) by 57.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 444,000 shares of the company’s stock after buying an additional 161,551 shares during the quarter. Columbus Circle Investors’ holdings in Floor & Decor were worth $23,141,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. purchased a new position in Floor & Decor in the 4th quarter worth approximately $110,000. Teachers Retirement System of The State of Kentucky purchased a new position in Floor & Decor in the 4th quarter worth approximately $156,000. Amalgamated Bank purchased a new position in Floor & Decor in the 4th quarter worth approximately $214,000. State of Wisconsin Investment Board purchased a new position in Floor & Decor in the 4th quarter worth approximately $220,000. Finally, Steinberg Global Asset Management purchased a new position in Floor & Decor in the 4th quarter worth approximately $243,000. 95.70% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Thomas V. Taylor sold 170,000 shares of the company’s stock in a transaction on Thursday, April 5th. The shares were sold at an average price of $55.73, for a total transaction of $9,474,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David Victor Christopherson sold 8,817 shares of the company’s stock in a transaction on Thursday, April 5th. The shares were sold at an average price of $57.30, for a total transaction of $505,214.10. Following the sale, the executive vice president now owns 12,845 shares of the company’s stock, valued at $736,018.50. The disclosure for this sale can be found here. Insiders have sold a total of 592,484 shares of company stock valued at $31,862,763 over the last quarter. 8.20% of the stock is currently owned by company insiders.

Shares of FND opened at $46.33 on Friday. The company has a market capitalization of $4.40 billion and a PE ratio of 67.14. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.47 and a quick ratio of 0.18. Floor & Decor Holdings has a fifty-two week low of $45.01 and a fifty-two week high of $45.87.

Floor & Decor (NYSE:FND) last posted its quarterly earnings results on Thursday, May 3rd. The company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.03. Floor & Decor had a net margin of 8.34% and a return on equity of 20.20%. The company had revenue of $402.90 million during the quarter, compared to analyst estimates of $400.37 million. During the same period in the prior year, the business posted $0.13 EPS. The firm’s revenue was up 31.1% compared to the same quarter last year. equities research analysts expect that Floor & Decor Holdings will post 1 earnings per share for the current year.

A number of equities analysts have commented on the stock. Loop Capital boosted their price target on shares of Floor & Decor to $50.00 and gave the stock a “hold” rating in a research note on Tuesday, April 24th. They noted that the move was a valuation call. Wells Fargo began coverage on shares of Floor & Decor in a research note on Monday, April 23rd. They issued a “market perform” rating for the company. Bank of America lowered shares of Floor & Decor from a “buy” rating to a “neutral” rating and set a $60.00 price objective for the company. in a report on Wednesday, April 11th. They noted that the move was a valuation call. Stifel Nicolaus lowered shares of Floor & Decor from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $51.00 to $60.00 in a report on Wednesday, April 25th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of Floor & Decor from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $50.41.

About Floor & Decor

Floor & Decor Holdings, Inc operates as a multi-channel specialty retailer of hard surface flooring and related accessories. The company's stores offer tile, wood, laminate, and natural stone flooring products, as well as decorative and installation accessories. It serves professional installers, commercial businesses, and do it yourself customers.

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

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