Alliancebernstein L.P. Raises Holdings in Floor & Decor Holdings, Inc. (NYSE:FND)


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Alliancebernstein L.P. grew its position in shares of Floor & Decor Holdings, Inc. (NYSE:FND) by 5.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,144,378 shares of the company’s stock after buying an additional 113,077 shares during the period. Alliancebernstein L.P. owned 2.06% of Floor & Decor worth $199,105,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FND. Metropolitan Life Insurance Co NY lifted its position in shares of Floor & Decor by 18.3% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 4,395 shares of the company’s stock valued at $181,000 after buying an additional 680 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of Floor & Decor during the 1st quarter valued at $2,060,000. Xponance Inc. lifted its position in shares of Floor & Decor by 15.5% during the 3rd quarter. Xponance Inc. now owns 9,801 shares of the company’s stock valued at $733,000 after buying an additional 1,313 shares during the last quarter. Artemis Investment Management LLP lifted its position in shares of Floor & Decor by 197.8% during the 3rd quarter. Artemis Investment Management LLP now owns 540,372 shares of the company’s stock valued at $40,367,000 after buying an additional 358,887 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Floor & Decor during the 3rd quarter valued at $250,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently issued reports on FND. Loop Capital boosted their price objective on Floor & Decor from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, November 3rd. They noted that the move was a valuation call. Piper Sandler upgraded Floor & Decor from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $80.00 to $124.00 in a research note on Friday. Morgan Stanley boosted their price objective on Floor & Decor from $77.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 20th. Wells Fargo & Company boosted their price objective on Floor & Decor from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, February 9th. Finally, The Goldman Sachs Group upgraded Floor & Decor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $74.00 to $105.00 in a research note on Thursday, December 10th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $88.65.

In related news, CEO Thomas V. Taylor sold 51,780 shares of the stock in a transaction dated Friday, December 4th. The stock was sold at an average price of $83.31, for a total transaction of $4,313,791.80. Following the completion of the sale, the chief executive officer now directly owns 288,448 shares in the company, valued at approximately $24,030,602.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas V. Taylor sold 48,220 shares of the stock in a transaction dated Monday, December 7th. The shares were sold at an average price of $84.30, for a total value of $4,064,946.00. Following the sale, the chief executive officer now owns 288,448 shares of the company’s stock, valued at $24,316,166.40. The disclosure for this sale can be found here. Insiders have sold a total of 107,043 shares of company stock worth $9,011,904 over the last quarter. Corporate insiders own 5.20% of the company’s stock.

Shares of Floor & Decor stock opened at $98.18 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $10.21 billion, a PE ratio of 59.87, a price-to-earnings-growth ratio of 2.13 and a beta of 1.90. The business’s 50-day moving average price is $100.22 and its 200-day moving average price is $84.66. Floor & Decor Holdings, Inc. has a 12 month low of $24.36 and a 12 month high of $108.54.

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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