Northern Trust Corp grew its holdings in Floor & Decor Holdings Inc (NYSE:FND) by 42.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 227,524 shares of the company’s stock after purchasing an additional 68,091 shares during the period. Northern Trust Corp owned about 0.23% of Floor & Decor worth $11,224,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Floor & Decor by 26.8% in the second quarter. BlackRock Inc. now owns 1,867,481 shares of the company’s stock worth $92,123,000 after purchasing an additional 394,326 shares during the period. Federated Investors Inc. PA increased 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 worth $87,467,000 after purchasing an additional 48,667 shares during the period. Joho Capital LLC increased 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 worth $73,881,000 after purchasing an additional 574,403 shares during the period. Eagle Asset Management Inc. increased its stake in Floor & Decor by 102.3% in the second quarter. Eagle Asset Management Inc. now owns 1,069,855 shares of the company’s stock worth $52,775,000 after purchasing an additional 541,014 shares during the period. Finally, Carillon Tower Advisers Inc. increased its stake in Floor & Decor by 95.2% in the second quarter. Carillon Tower Advisers Inc. now owns 953,632 shares of the company’s stock worth $47,042,000 after purchasing an additional 465,103 shares during the period.
In related news, major shareholder Corporate Opportunities F. Ares sold 7,744,108 shares of the firm’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $37.00, for a total transaction of $286,531,996.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 8.20% of the stock is owned by company insiders.
FND has been the topic of a number of recent analyst reports. Loop Capital increased their target price on Floor & Decor from $55.00 to $60.00 and gave the stock an “average” rating in a research note on Monday, July 23rd. They noted that the move was a valuation call. Bank of America downgraded Floor & Decor from a “buy” rating to a “neutral” rating in a research report on Thursday, August 2nd. JPMorgan Chase & Co. downgraded Floor & Decor from an “overweight” rating to a “neutral” rating and set a $46.00 price target on the stock. in a research report on Friday, August 3rd. Piper Jaffray Companies downgraded Floor & Decor from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $58.00 to $39.00 in a research report on Friday, August 3rd. Finally, Stifel Nicolaus reissued a “hold” rating and set a $45.00 price target (down previously from $55.00) on shares of Floor & Decor in a research report on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $43.35.
FND opened at $32.29 on Friday. Floor & Decor Holdings Inc has a 12-month low of $24.01 and a 12-month high of $58.28. The firm has a market cap of $3.19 billion, a PE ratio of 34.21, a PEG ratio of 1.38 and a beta of -0.01. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.26 and a current ratio of 1.50.
Floor & Decor (NYSE:FND) last issued its quarterly earnings data on Thursday, November 1st. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Floor & Decor had a return on equity of 19.82% and a net margin of 8.80%. The company had revenue of $435.90 million for the quarter, compared to the consensus estimate of $428.88 million. During the same quarter last year, the company earned $0.17 earnings per share. The firm’s revenue for the quarter was up 26.8% compared to the same quarter last year. On average, equities analysts expect that Floor & Decor Holdings Inc will post 0.95 EPS for the current year.
Floor & Decor 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, 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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