January 23, 2021

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State Street Corp Boosts Stock Position in Floor & Decor Holdings, Inc. (NYSE:FND)


State Street Corp grew its stake in shares of Floor & Decor Holdings, Inc. (NYSE:FND) by 24.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,763,269 shares of the company’s stock after acquiring an additional 341,308 shares during the period. State Street Corp’s holdings in Floor & Decor were worth $131,893,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Capital Analysts LLC purchased a new stake in shares of Floor & Decor during the second quarter worth $49,000. Private Advisor Group LLC purchased a new stake in shares of Floor & Decor during the second quarter worth $56,000. Cerebellum GP LLC purchased a new stake in shares of Floor & Decor during the third quarter worth $66,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Floor & Decor during the third quarter worth $74,000. Finally, Flagship Harbor Advisors LLC lifted its position in shares of Floor & Decor by 1,186.0% during the third quarter. Flagship Harbor Advisors LLC now owns 1,286 shares of the company’s stock worth $96,000 after acquiring an additional 1,186 shares in the last quarter.

In related news, CFO Trevor Lang sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $82.63, for a total value of $1,652,600.00. Following the completion of the transaction, the chief financial officer now directly owns 217,613 shares in the company, valued at approximately $17,981,362.19. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brian K. Robbins sold 10,813 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $75.65, for a total transaction of $818,003.45. Following the completion of the transaction, the executive vice president now owns 43,651 shares of the company’s stock, valued at $3,302,198.15. The disclosure for this sale can be found here. Insiders have sold 470,676 shares of company stock valued at $35,061,243 over the last quarter. Company insiders own 5.20% of the company’s stock.

A number of equities research analysts recently issued reports on FND shares. Exane BNP Paribas assumed coverage on Floor & Decor in a research report on Monday, October 5th. They issued an “outperform” rating and a $89.00 price objective on the stock. Zacks Investment Research cut Floor & Decor from a “buy” rating to a “hold” rating in a research note on Monday, October 12th. Morgan Stanley raised their price objective on Floor & Decor from $70.00 to $77.00 and gave the company an “equal weight” rating in a research note on Friday, October 30th. Gordon Haskett raised Floor & Decor from an “accumulate” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Monday, November 2nd. Finally, Bank of America raised their target price on Floor & Decor from $83.00 to $93.00 and gave the stock a “buy” rating in a research note on Friday, October 16th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $77.33.

Shares of FND opened at $81.66 on Friday. The company has a 50-day simple moving average of $79.44 and a two-hundred day simple moving average of $66.62. Floor & Decor Holdings, Inc. has a one year low of $24.36 and a one year high of $86.37. The firm has a market capitalization of $8.49 billion, a PE ratio of 49.79, a price-to-earnings-growth ratio of 2.29 and a beta of 2.00. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.57 and a quick ratio of 0.61.

Floor & Decor (NYSE:FND) last released its earnings results on Thursday, October 29th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.16. Floor & Decor had a net margin of 7.77% and a return on equity of 16.23%. The firm had revenue of $684.85 million during the quarter, compared to analyst estimates of $639.31 million. During the same period last year, the business earned $0.27 earnings per share. The business’s revenue was up 31.4% on a year-over-year basis. Analysts expect that Floor & Decor Holdings, Inc. will post 1.41 EPS for the current fiscal year.

Floor & Decor Company Profile

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, vinyl, 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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