Fred Alger Management LLC Lowers Stake in Floor & Decor Holdings, Inc. $FND

Key Points

• Fred Alger Management LLC reduced its stock position in Floor & Decor Holdings, Inc. by 59.1% in the first quarter, holding 12,610 shares valued at approximately $1,015,000 after selling 18,208 shares.
• A number of analysts have set new price targets for Floor & Decor, with Guggenheim lowering its target from $100 to $90 and Morgan Stanley from $105 to $97, while the consensus price target stands at $88.56.
• Floor & Decor reported $0.58 earnings per share for the last quarter, marginally beating consensus estimates, and indicated a revenue increase of 7.2% compared to the same quarter last year.

Fred Alger Management LLC decreased its holdings in Floor & Decor Holdings, Inc. (NYSE:FND - Free Report) by 59.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,610 shares of the company's stock after selling 18,208 shares during the period. Fred Alger Management LLC's holdings in Floor & Decor were worth $1,015,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its stake 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 worth $22,255,000 after purchasing an additional 13,983 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Floor & Decor by 28.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,170 shares of the company's stock valued at $255,000 after acquiring an additional 701 shares in the last quarter. Worldly Partners Management LLC grew its stake in Floor & Decor by 5.5% during the first quarter. Worldly Partners Management LLC now owns 1,094,880 shares of the company's stock valued at $88,105,000 after acquiring an additional 57,500 shares in the last quarter. Davidson Kahn Capital Management LLC grew its stake in Floor & Decor by 24.0% during the first quarter. Davidson Kahn Capital Management LLC now owns 30,395 shares of the company's stock valued at $2,446,000 after acquiring an additional 5,887 shares in the last quarter. Finally, Bridges Investment Management Inc. grew its stake 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 acquiring an additional 78,626 shares in the last quarter.

Floor & Decor Stock Performance

FND traded up $0.40 during midday trading on Monday, hitting $89.08. 313,005 shares of the company traded hands, compared to its average volume of 2,089,730. The company's 50-day moving average is $81.99 and its 200 day moving average is $79.03. Floor & Decor Holdings, Inc. has a 52 week low of $66.01 and a 52 week high of $124.68. The company has a quick ratio of 0.28, a current ratio of 1.25 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $9.59 billion, a PE ratio of 45.69, a price-to-earnings-growth ratio of 3.80 and a beta of 1.68.

Floor & Decor (NYSE:FND - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.58 EPS for the quarter, topping analysts' consensus estimates 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 last year, the business earned $0.52 EPS. The firm's revenue 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. On average, research analysts expect that Floor & Decor Holdings, Inc. will post 2 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on FND shares. Piper Sandler reduced 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 note on Friday, August 1st. Telsey Advisory Group restated an "outperform" rating and issued a $92.00 price objective on shares of Floor & Decor in a report on Tuesday, August 12th. 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 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 report on Friday, August 1st. Finally, Morgan Stanley decreased their target price on shares of 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. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Floor & Decor currently has a consensus rating of "Hold" and a consensus target price of $88.56.

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.