AQR Capital Management LLC Purchases Shares of 277,829 Floor & Decor Holdings, Inc. $FND

Key Points

• AQR Capital Management LLC acquired 277,829 shares of Floor & Decor Holdings, Inc. ($FND) in the first quarter, valued at approximately $22.2 million.
• Vanguard Group Inc. increased its ownership by 3.9%, bringing its total to over 10 million shares, while other firms also raised their stakes significantly during the same period.
• Floor & Decor recently reported $1.21 billion in revenue for the last quarter, with earnings per share of $0.58, exceeding analysts' expectations.

AQR Capital Management LLC purchased a new stake in Floor & Decor Holdings, Inc. (NYSE:FND - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 277,829 shares of the company's stock, valued at approximately $22,226,000. AQR Capital Management LLC owned approximately 0.26% of Floor & Decor at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in shares of Floor & Decor by 5.3% in the first quarter. Envestnet Asset Management Inc. now owns 276,559 shares of the company's stock valued at $22,255,000 after buying an additional 13,983 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Floor & Decor by 28.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,170 shares of the company's stock valued at $255,000 after buying an additional 701 shares in the last quarter. Worldly Partners Management LLC raised its position in shares of Floor & Decor by 5.5% in the first quarter. Worldly Partners Management LLC now owns 1,094,880 shares of the company's stock valued at $88,105,000 after buying an additional 57,500 shares in the last quarter. Davidson Kahn Capital Management LLC raised its position in shares of Floor & Decor by 24.0% in the first quarter. Davidson Kahn Capital Management LLC now owns 30,395 shares of the company's stock valued at $2,446,000 after buying an additional 5,887 shares in the last quarter. Finally, Bridges Investment Management Inc. raised its position in Floor & Decor by 32.5% during the first quarter. Bridges Investment Management Inc. now owns 320,614 shares of the company's stock valued at $25,800,000 after purchasing an additional 78,626 shares in the last quarter.

Floor & Decor Trading Down 1.7%

Shares of Floor & Decor stock traded down $1.56 during trading on Friday, hitting $88.86. The company's stock had a trading volume of 1,761,564 shares, compared to its average volume of 2,185,202. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.25 and a quick ratio of 0.28. Floor & Decor Holdings, Inc. has a 52 week low of $66.01 and a 52 week high of $124.68. The stock has a market cap of $9.57 billion, a price-to-earnings ratio of 45.57, a price-to-earnings-growth ratio of 3.88 and a beta of 1.68. The stock has a 50-day moving average price of $81.99 and a two-hundred day moving average price of $79.31.

Floor & Decor (NYSE:FND - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. Floor & Decor had a net margin of 4.59% and a return on equity of 9.36%. The company had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Floor & Decor's revenue for the quarter was up 7.2% on a year-over-year basis. Floor & Decor has set its FY 2025 guidance at 1.750-2.000 EPS. Equities research analysts anticipate that Floor & Decor Holdings, Inc. will post 2 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Piper Sandler lowered their price objective on shares of Floor & Decor from $80.00 to $78.00 and set a "neutral" rating for the company in a research report on Friday, August 1st. Wall Street Zen downgraded shares of Floor & Decor from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Evercore ISI lowered their price objective on shares of Floor & Decor from $85.00 to $80.00 and set an "in-line" rating for the company in a research report on Tuesday, June 24th. Guggenheim lowered their price objective on shares of Floor & Decor from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Finally, Telsey Advisory Group restated an "outperform" rating and set a $92.00 price objective on shares of Floor & Decor in a research report on Tuesday, August 12th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $88.56.

Floor & Decor Company Profile

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.