Geode Capital Management LLC Raises Position in Floor & Decor Holdings, Inc. $FND

Geode Capital Management LLC boosted its position in shares of Floor & Decor Holdings, Inc. (NYSE:FND) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,893,763 shares of the company’s stock after buying an additional 10,547 shares during the period. Geode Capital Management LLC’s holdings in Floor & Decor were worth $143,874,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in FND. Northwestern Mutual Wealth Management Co. lifted its position in shares of Floor & Decor by 42.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 514 shares of the company’s stock valued at $41,000 after acquiring an additional 152 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in Floor & Decor in the 1st quarter valued at $47,000. eCIO Inc. purchased a new position in Floor & Decor in the 1st quarter valued at $62,000. WD Rutherford LLC purchased a new position in Floor & Decor in the 2nd quarter valued at $73,000. Finally, Hantz Financial Services Inc. boosted its stake in Floor & Decor by 34.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,245 shares of the company’s stock worth $95,000 after purchasing an additional 319 shares during the last quarter.

Floor & Decor Stock Up 2.1%

Shares of NYSE FND opened at $57.98 on Wednesday. The company has a market capitalization of $6.25 billion, a P/E ratio of 28.99, a P/E/G ratio of 2.47 and a beta of 1.70. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.27 and a quick ratio of 0.34. The company has a 50 day simple moving average of $71.80 and a 200-day simple moving average of $76.29. Floor & Decor Holdings, Inc. has a 1 year low of $55.11 and a 1 year high of $122.90.

Floor & Decor (NYSE:FND) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.06. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. Floor & Decor had a return on equity of 9.34% and a net margin of 4.65%.The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 earnings per share. Floor & Decor has set its FY 2025 guidance at 1.870-1.970 EPS. On average, equities research analysts predict that Floor & Decor Holdings, Inc. will post 2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Piper Sandler upgraded shares of Floor & Decor from a “neutral” rating to an “overweight” rating and increased their target price for the company from $75.00 to $80.00 in a research report on Wednesday, November 12th. Citigroup cut their price objective on shares of Floor & Decor from $81.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Wolfe Research started coverage on Floor & Decor in a report on Thursday, September 18th. They set an “underperform” rating and a $76.00 target price on the stock. The Goldman Sachs Group upgraded Floor & Decor from a “sell” rating to a “neutral” rating and dropped their price target for the company from $80.00 to $71.00 in a research report on Thursday, November 13th. Finally, Guggenheim reduced their price objective on Floor & Decor from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, August 1st. Six equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $83.95.

Insider Activity

In other Floor & Decor news, President Bradley Paulsen acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average cost of $60.27 per share, with a total value of $301,350.00. Following the transaction, the president owned 30,000 shares of the company’s stock, valued at $1,808,100. This trade represents a 20.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

About Floor & Decor

Floor & Decor Holdings, Inc engages in the retail of hard surface flooring and related accessories. It provides wood, stone, and flooring products. Its products include vinyl, laminate, and tiles with materials installation for living rooms, kitchen, bathrooms, and walls. The company was founded by George Vincent West in 2000 and is headquartered in Atlanta, GA.