Utah Retirement Systems Raises Holdings in Floor & Decor Holdings Inc (FND)

Utah Retirement Systems raised its position in Floor & Decor Holdings Inc (NYSE:FND) by 25.4% in the third quarter, Holdings Channel reports. The institutional investor owned 8,900 shares of the company’s stock after purchasing an additional 1,800 shares during the period. Utah Retirement Systems’ holdings in Floor & Decor were worth $268,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. FMR LLC lifted its stake in Floor & Decor by 269.4% in the third quarter. FMR LLC now owns 2,388,850 shares of the company’s stock valued at $72,071,000 after buying an additional 1,742,131 shares during the last quarter. BlackRock Inc. lifted its stake in Floor & Decor by 16.3% in the third quarter. BlackRock Inc. now owns 2,172,254 shares of the company’s stock valued at $65,538,000 after buying an additional 304,773 shares during the last quarter. Federated Investors Inc. PA lifted its stake in Floor & Decor by 2.8% in the second quarter. Federated Investors Inc. PA now owns 1,773,100 shares of the company’s stock valued at $87,467,000 after buying an additional 48,667 shares during the last quarter. Joho Capital LLC lifted its stake in Floor & Decor by 62.2% in the second quarter. Joho Capital LLC now owns 1,497,681 shares of the company’s stock valued at $73,881,000 after buying an additional 574,403 shares during the last quarter. Finally, Timucuan Asset Management Inc. FL purchased a new stake in Floor & Decor in the third quarter valued at approximately $39,148,000.

In other news, major shareholder Corporate Opportunities F. Ares sold 7,744,108 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $37.00, for a total value of $286,531,996.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 8.20% of the company’s stock.

FND has been the subject of a number of research reports. Wells Fargo & Co upgraded Floor & Decor from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $42.00 to $40.00 in a research note on Friday, August 10th. Jefferies Financial Group upgraded Floor & Decor from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Tuesday, August 21st. William Blair reiterated an “outperform” rating on shares of Floor & Decor in a research note on Thursday, August 23rd. Longbow Research initiated coverage on Floor & Decor in a research note on Friday, August 24th. They issued a “buy” rating and a $50.00 price objective for the company. Finally, TheStreet cut Floor & Decor from a “c-” rating to a “d+” rating in a research note on Friday, August 31st. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Floor & Decor has a consensus rating of “Buy” and an average target price of $42.56.

NYSE:FND opened at $30.27 on Friday. The company has a market capitalization of $3.14 billion, a PE ratio of 43.87, a P/E/G ratio of 1.36 and a beta of 0.21. The company has a current ratio of 1.50, a quick ratio of 0.26 and a debt-to-equity ratio of 0.25. Floor & Decor Holdings Inc has a 12-month low of $24.01 and a 12-month high of $58.28.

Floor & Decor (NYSE:FND) last released its earnings results on Thursday, November 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. The business had revenue of $435.90 million for the quarter, compared to analyst estimates of $428.88 million. Floor & Decor had a return on equity of 19.82% and a net margin of 8.80%. The company’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 earnings per share. Equities analysts predict that Floor & Decor Holdings Inc will post 0.95 earnings per share for the current year.

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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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