Wasatch Advisors LP Sells 470,328 Shares of Floor & Decor Holdings, Inc. (NYSE:FND)

Wasatch Advisors LP cut its holdings in Floor & Decor Holdings, Inc. (NYSE:FND) by 18.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,063,625 shares of the company’s stock after selling 470,328 shares during the period. Floor & Decor makes up 1.4% of Wasatch Advisors LP’s investment portfolio, making the stock its 21st biggest holding. Wasatch Advisors LP’s holdings in Floor & Decor were worth $267,487,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State of Michigan Retirement System boosted its stake in shares of Floor & Decor by 2.3% during the 1st quarter. State of Michigan Retirement System now owns 26,200 shares of the company’s stock worth $3,396,000 after acquiring an additional 600 shares in the last quarter. WD Rutherford LLC bought a new stake in Floor & Decor during the first quarter worth approximately $125,000. Wealth Enhancement Advisory Services LLC grew its holdings in Floor & Decor by 5.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,066 shares of the company’s stock valued at $1,046,000 after purchasing an additional 404 shares during the last quarter. Riverview Trust Co bought a new position in shares of Floor & Decor in the first quarter valued at approximately $26,000. Finally, Rise Advisors LLC acquired a new stake in shares of Floor & Decor in the first quarter worth $39,000.

Insiders Place Their Bets

In other news, Director Peter Starrett sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $118.24, for a total transaction of $591,200.00. Following the sale, the director now directly owns 128,189 shares of the company’s stock, valued at $15,157,067.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Peter Starrett sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $118.24, for a total value of $591,200.00. Following the transaction, the director now owns 128,189 shares of the company’s stock, valued at approximately $15,157,067.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas V. Taylor sold 34,199 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $125.00, for a total value of $4,274,875.00. Following the completion of the transaction, the chief executive officer now directly owns 168,386 shares in the company, valued at approximately $21,048,250. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,778 shares of company stock valued at $5,182,791. Insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

FND has been the topic of a number of research analyst reports. TD Cowen lowered their target price on shares of Floor & Decor from $125.00 to $115.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Mizuho lowered their price target on Floor & Decor from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Robert W. Baird reissued an “outperform” rating and set a $127.00 price objective on shares of Floor & Decor in a research report on Tuesday. Telsey Advisory Group restated a “market perform” rating and set a $110.00 target price on shares of Floor & Decor in a research note on Monday, April 29th. Finally, UBS Group dropped their price target on Floor & Decor from $135.00 to $125.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Floor & Decor presently has a consensus rating of “Hold” and an average price target of $108.62.

Floor & Decor Price Performance

FND traded up $0.82 during trading on Tuesday, hitting $96.09. The company’s stock had a trading volume of 2,064,909 shares, compared to its average volume of 1,360,490. The company has a quick ratio of 0.21, a current ratio of 1.17 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $10.28 billion, a price-to-earnings ratio of 46.42, a price-to-earnings-growth ratio of 10.24 and a beta of 1.74. The firm’s 50 day moving average price is $114.29 and its two-hundred day moving average price is $113.99. Floor & Decor Holdings, Inc. has a 12 month low of $76.30 and a 12 month high of $135.67.

Floor & Decor (NYSE:FND) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Floor & Decor had a return on equity of 11.80% and a net margin of 5.11%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the business posted $0.66 earnings per share. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. Sell-side analysts forecast that Floor & Decor Holdings, Inc. will post 1.89 earnings per share for the current fiscal year.

Floor & Decor Company 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.