Baillie Gifford & Co. Cuts Position in Floor & Decor Holdings, Inc. (NYSE:FND)

Key Points

• Baillie Gifford & Co. reduced its stake in Floor & Decor by 6.5%, owning 1,720,794 shares worth $138.5 million after selling 118,751 shares in the first quarter.
• Floor & Decor's quarterly earnings met estimates at $0.45 EPS, with revenues of $1.16 billion, reflecting a year-over-year growth of 5.8%.
• Wall Street analysts have lowered their price targets for Floor & Decor, with a consensus target of $90.33 and ratings ranging from sell to buy.

Baillie Gifford & Co. cut its stake in shares of Floor & Decor Holdings, Inc. (NYSE:FND - Free Report) by 6.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,720,794 shares of the company's stock after selling 118,751 shares during the period. Baillie Gifford & Co. owned 1.60% of Floor & Decor worth $138,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of FND. Huntington National Bank grew its stake in shares of Floor & Decor by 120.5% during the fourth quarter. Huntington National Bank now owns 344 shares of the company's stock valued at $34,000 after buying an additional 188 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Floor & Decor during the fourth quarter valued at approximately $49,000. First Horizon Advisors Inc. grew its stake in shares of Floor & Decor by 42.6% during the first quarter. First Horizon Advisors Inc. now owns 853 shares of the company's stock valued at $69,000 after buying an additional 255 shares during the last quarter. Signaturefd LLC grew its stake in shares of Floor & Decor by 18.5% during the first quarter. Signaturefd LLC now owns 1,751 shares of the company's stock valued at $141,000 after buying an additional 273 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Floor & Decor by 67.6% during the first quarter. CWM LLC now owns 2,105 shares of the company's stock valued at $169,000 after buying an additional 849 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wells Fargo & Company dropped their price objective on Floor & Decor from $80.00 to $75.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Barclays dropped their price objective on Floor & Decor from $91.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. Evercore ISI lowered their target price on Floor & Decor from $85.00 to $80.00 and set an "in-line" rating for the company in a report on Tuesday, June 24th. Wall Street Zen cut Floor & Decor from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Finally, The Goldman Sachs Group lowered their price objective on Floor & Decor from $81.00 to $70.00 and set a "sell" rating for the company in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Floor & Decor has an average rating of "Hold" and an average price target of $89.33.

Floor & Decor Price Performance

Shares of Floor & Decor stock traded up $0.64 on Wednesday, hitting $79.56. 412,481 shares of the company were exchanged, compared to its average volume of 2,051,902. The stock has a market capitalization of $8.56 billion, a price-to-earnings ratio of 42.03, a price-to-earnings-growth ratio of 2.49 and a beta of 1.70. The company has a 50-day moving average price of $76.93 and a 200 day moving average price of $83.02. Floor & Decor Holdings, Inc. has a 1-year low of $66.01 and a 1-year high of $124.68. The company has a quick ratio of 0.27, a current ratio of 1.22 and a debt-to-equity ratio of 0.09.

Floor & Decor (NYSE:FND - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. Floor & Decor had a net margin of 4.53% and a return on equity of 9.32%. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 EPS. As a group, sell-side analysts predict that Floor & Decor Holdings, Inc. will post 2 earnings per share for the current fiscal year.

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.