Thoroughbred Financial Services LLC Acquires Shares of 3,558 Floor & Decor Holdings, Inc. (NYSE:FND)

Thoroughbred Financial Services LLC bought a new position in shares of Floor & Decor Holdings, Inc. (NYSE:FND) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,558 shares of the company’s stock, valued at approximately $353,000.

A number of other hedge funds and other institutional investors have also modified their holdings of FND. Polen Capital Management LLC boosted its stake in Floor & Decor by 59,133.5% during the 4th quarter. Polen Capital Management LLC now owns 25,184,312 shares of the company’s stock valued at $27,861,000 after acquiring an additional 25,141,795 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Floor & Decor by 20.4% in the 1st quarter. Capital Research Global Investors now owns 7,871,841 shares of the company’s stock valued at $1,020,348,000 after purchasing an additional 1,334,650 shares in the last quarter. Capital World Investors lifted its position in shares of Floor & Decor by 5.6% during the fourth quarter. Capital World Investors now owns 11,908,550 shares of the company’s stock worth $1,328,518,000 after purchasing an additional 627,256 shares during the last quarter. Norges Bank acquired a new position in Floor & Decor in the fourth quarter worth about $39,315,000. Finally, Vanguard Group Inc. increased its holdings in Floor & Decor by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 9,658,747 shares of the company’s stock valued at $1,077,530,000 after buying an additional 300,506 shares during the last quarter.

Analyst Ratings Changes

FND has been the subject of several research reports. TD Cowen decreased their target price on Floor & Decor from $115.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Telsey Advisory Group lowered their target price on shares of Floor & Decor from $100.00 to $95.00 and set a “market perform” rating for the company in a research note on Friday, August 2nd. Robert W. Baird reduced their price target on shares of Floor & Decor from $127.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Piper Sandler lowered their price objective on shares of Floor & Decor from $115.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut their target price on shares of Floor & Decor from $99.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Floor & Decor presently has an average rating of “Hold” and an average target price of $103.84.

Floor & Decor Price Performance

Shares of NYSE FND opened at $116.64 on Tuesday. The stock has a market cap of $12.50 billion, a P/E ratio of 56.35, a P/E/G ratio of 2.19 and a beta of 1.79. The firm’s 50-day simple moving average is $101.32 and its 200 day simple moving average is $111.04. Floor & Decor Holdings, Inc. has a fifty-two week low of $76.30 and a fifty-two week high of $135.67. The company has a quick ratio of 0.27, a current ratio of 1.17 and a debt-to-equity ratio of 0.10.

Floor & Decor (NYSE:FND) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.15 billion. Floor & Decor had a net margin of 4.78% and a return on equity of 10.69%. Floor & Decor’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 EPS. Equities analysts expect that Floor & Decor Holdings, Inc. will post 1.67 EPS for the current year.

Floor & Decor Profile

Floor & Decor Holdings, Inc together with its subsidiaries, operates as a multi-channel specialty retailer of hard surface flooring and related accessories, and commercial surfaces seller in Georgia. The company offers tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative accessories, wall tiles, and installation materials and tools; and vanities, shower doors, bath accessories, faucets, sinks, custom countertops, bathroom mirrors, and bathroom lighting.