Floor & Decor Holdings, Inc. $FND Stake Lessened by Abdiel Capital Advisors LP

Key Points

• Abdiel Capital Advisors LP reduced its stake in Floor & Decor by 5.5%, bringing its ownership to 1,632,481 shares, which now constitutes about 13.5% of their portfolio.
• Several institutional investors, including Northwestern Mutual Wealth Management Co. and Commerce Bank, have increased their investments in Floor & Decor during the first quarter.
• Analysts have revised their price objectives for Floor & Decor, with Loop Capital lowering theirs from $95.00 to $75.00 and a general average target price now standing at $88.56.

Abdiel Capital Advisors LP lowered its holdings in Floor & Decor Holdings, Inc. (NYSE:FND - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,632,481 shares of the company's stock after selling 95,250 shares during the quarter. Floor & Decor makes up about 13.5% of Abdiel Capital Advisors LP's investment portfolio, making the stock its 3rd largest holding. Abdiel Capital Advisors LP owned approximately 1.52% of Floor & Decor worth $131,366,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Floor & Decor by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 10,173,547 shares of the company's stock worth $818,665,000 after buying an additional 380,976 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Floor & Decor by 32.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,837,665 shares of the company's stock worth $550,228,000 after acquiring an additional 1,686,085 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Floor & Decor by 106.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,023,172 shares of the company's stock worth $243,275,000 after acquiring an additional 1,558,409 shares in the last quarter. Timucuan Asset Management Inc. FL raised its position in shares of Floor & Decor by 32.1% in the 1st quarter. Timucuan Asset Management Inc. FL now owns 2,366,458 shares of the company's stock worth $190,429,000 after acquiring an additional 575,520 shares in the last quarter. Finally, Fisher Funds Management LTD raised its position in shares of Floor & Decor by 21.6% in the 1st quarter. Fisher Funds Management LTD now owns 1,568,794 shares of the company's stock worth $126,241,000 after acquiring an additional 279,087 shares in the last quarter.

Wall Street Analyst Weigh In

FND has been the subject of several research reports. Guggenheim decreased their target price on Floor & Decor from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Evercore ISI decreased their target price on 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. Piper Sandler lowered their price objective on Floor & Decor from $80.00 to $78.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. Morgan Stanley cut their target price on Floor & Decor from $105.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Finally, Wall Street Zen downgraded Floor & Decor from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Floor & Decor has a consensus rating of "Hold" and an average target price of $88.56.

Floor & Decor Stock Performance

Shares of Floor & Decor stock traded up $4.72 during trading on Friday, hitting $87.47. 3,593,538 shares of the company's stock traded hands, compared to its average volume of 2,177,441. Floor & Decor Holdings, Inc. has a 1 year low of $66.01 and a 1 year high of $124.68. The business has a 50-day simple moving average of $81.31 and a 200-day simple moving average of $79.49. The stock has a market capitalization of $9.42 billion, a P/E ratio of 44.85, a PEG ratio of 3.75 and a beta of 1.68. 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 (NYSE:FND - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter in the prior year, the business earned $0.52 EPS. The business's revenue for the quarter was up 7.2% compared to the same quarter last year. Floor & Decor has set its FY 2025 guidance at 1.750-2.000 EPS. As a group, analysts forecast that Floor & Decor Holdings, Inc. will post 2 EPS for the current year.

Floor & Decor 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.