American Century Companies Inc. acquired a new position in Floor & Decor Holdings Inc (NYSE:FND) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 993,385 shares of the company’s stock, valued at approximately $25,729,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its stake in shares of Floor & Decor by 53.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 52,608 shares of the company’s stock worth $1,587,000 after purchasing an additional 18,361 shares during the last quarter. Renaissance Technologies LLC increased its position in Floor & Decor by 266.9% during the third quarter. Renaissance Technologies LLC now owns 383,800 shares of the company’s stock worth $11,579,000 after buying an additional 279,200 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in Floor & Decor by 13.2% during the fourth quarter. Frontier Capital Management Co. LLC now owns 288,267 shares of the company’s stock worth $7,466,000 after buying an additional 33,518 shares during the last quarter. Madison Investment Holdings Inc. acquired a new position in Floor & Decor during the fourth quarter worth $21,106,000. Finally, Vanguard Group Inc. raised its holdings in Floor & Decor by 24.6% during the third quarter. Vanguard Group Inc. now owns 4,502,767 shares of the company’s stock valued at $135,848,000 after buying an additional 887,822 shares in the last quarter.
In related news, Director Felicia D. Thornton acquired 2,600 shares of the company’s stock in a transaction dated Wednesday, February 27th. The shares were bought at an average price of $37.82 per share, for a total transaction of $98,332.00. Following the acquisition, the director now owns 7,728 shares in the company, valued at approximately $292,272.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Corporate Opportunities F. Ares sold 6,673,401 shares of the company’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $37.50, for a total transaction of $250,252,537.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,858,252 shares of company stock worth $256,981,778. 8.20% of the stock is currently owned by corporate insiders.
FND has been the subject of several recent analyst reports. Gordon Haskett upgraded Floor & Decor from a “hold” rating to an “accumulate” rating in a research note on Thursday, March 21st. Loop Capital downgraded Floor & Decor from a “buy” rating to a “hold” rating and set a $43.00 price objective on the stock. in a research note on Friday. They noted that the move was a valuation call. Evercore ISI started coverage on Floor & Decor in a report on Wednesday, March 20th. They issued an “in-line” rating and a $42.00 target price for the company. TheStreet raised Floor & Decor from a “d+” rating to a “c” rating in a research report on Friday, March 1st. Finally, UBS Group upgraded 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 report on Friday, January 18th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $41.95.
Shares of NYSE:FND opened at $44.40 on Friday. The company has a market cap of $4.29 billion, a P/E ratio of 45.77, a price-to-earnings-growth ratio of 1.68 and a beta of 1.69. The company has a quick ratio of 0.22, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. Floor & Decor Holdings Inc has a twelve month low of $23.30 and a twelve month high of $57.85.
Floor & Decor (NYSE:FND) last issued its quarterly earnings results on Thursday, February 21st. The company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.02. Floor & Decor had a return on equity of 18.70% and a net margin of 6.80%. The company had revenue of $436.70 million for the quarter, compared to the consensus estimate of $435.66 million. During the same period in the previous year, the business posted $0.19 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities research analysts forecast that Floor & Decor Holdings Inc will post 1.1 earnings per share for the current fiscal 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.
Read More: What are Bollinger Bands?
Want to see what other hedge funds are holding FND? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Floor & Decor Holdings Inc (NYSE:FND).
Receive News & Ratings for Floor & Decor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Floor & Decor and related companies with MarketBeat.com's FREE daily email newsletter.