South Texas Money Management Ltd. reduced its position in shares of Floor & Decor Holdings Inc (NYSE:FND) by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 361,927 shares of the company’s stock after selling 18,563 shares during the period. South Texas Money Management Ltd. owned about 0.37% of Floor & Decor worth $14,919,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of FND. Cornerstone Advisors Inc. boosted its position in Floor & Decor by 42.2% during the fourth quarter. Cornerstone Advisors Inc. now owns 1,398 shares of the company’s stock valued at $36,000 after purchasing an additional 415 shares during the last quarter. Pitcairn Co. boosted its position in Floor & Decor by 11.6% during the fourth quarter. Pitcairn Co. now owns 7,799 shares of the company’s stock valued at $202,000 after purchasing an additional 808 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Floor & Decor by 14.1% during the first quarter. State of Alaska Department of Revenue now owns 6,800 shares of the company’s stock valued at $280,000 after purchasing an additional 840 shares during the last quarter. Captrust Financial Advisors boosted its position in Floor & Decor by 99.4% during the fourth quarter. Captrust Financial Advisors now owns 1,715 shares of the company’s stock valued at $44,000 after purchasing an additional 855 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in Floor & Decor during the fourth quarter valued at approximately $26,000.
In other news, Director George Vincent West sold 20,000 shares of the stock in a transaction that occurred on Friday, January 25th. The stock was sold at an average price of $33.01, for a total transaction of $660,200.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $660,200. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Corporate Opportunities F. Ares sold 6,673,401 shares of the stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $37.50, for a total value of $250,252,537.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,958,252 shares of company stock worth $261,481,778. 7.00% of the stock is owned by corporate insiders.
Floor & Decor (NYSE:FND) last released its quarterly earnings data on Thursday, February 21st. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.02. The company had revenue of $436.70 million during the quarter, compared to analysts’ expectations of $435.66 million. Floor & Decor had a return on equity of 18.70% and a net margin of 6.80%. The business’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm posted $0.19 earnings per share. As a group, analysts expect that Floor & Decor Holdings Inc will post 1.1 earnings per share for the current year.
Several research analysts recently commented on FND shares. Robert W. Baird started coverage on Floor & Decor in a research report on Monday, March 4th. They set an “outperform” rating and a $48.00 price target for the company. Bank of America cut Floor & Decor from a “buy” rating to an “underperform” rating and set a $29.00 price target for the company. in a research report on Friday, February 1st. UBS Group raised Floor & Decor from a “neutral” rating to a “buy” rating and increased their price target for the company from $29.00 to $37.00 in a research report on Friday, January 18th. Wells Fargo & Co reissued a “buy” rating and set a $45.00 price target on shares of Floor & Decor in a research report on Friday, March 1st. Finally, Loop Capital reduced their price target on Floor & Decor to $40.00 and set a “buy” rating for the company in a research report on Wednesday, January 16th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the stock. Floor & Decor presently has an average rating of “Hold” and an average target price of $41.77.
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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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