Hsbc Holdings PLC Purchases 27,586 Shares of Floor & Decor Holdings, Inc. $FND

Key Points

• Hsbc Holdings PLC significantly increased its stake in Floor & Decor Holdings, Inc. by 475.9% during the 1st quarter, now owning 33,382 shares valued at approximately $2.68 million.
• Floor & Decor reported $0.58 EPS for the last quarter, exceeding analyst expectations, while revenue remained steady with a 7.2% year-over-year growth.
• Several analysts have downgraded their price targets for Floor & Decor, with Goldman Sachs reducing theirs from $81.00 to $70.00 and giving a "sell" rating.

Hsbc Holdings PLC increased its position in shares of Floor & Decor Holdings, Inc. (NYSE:FND - Free Report) by 475.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,382 shares of the company's stock after purchasing an additional 27,586 shares during the period. Hsbc Holdings PLC's holdings in Floor & Decor were worth $2,684,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zions Bancorporation National Association UT bought a new stake in Floor & Decor during the first quarter valued at about $47,000. First Horizon Advisors Inc. boosted its stake in Floor & Decor by 42.6% in the 1st quarter. First Horizon Advisors Inc. now owns 853 shares of the company's stock worth $69,000 after purchasing an additional 255 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Floor & Decor by 24.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,539 shares of the company's stock worth $124,000 after purchasing an additional 298 shares during the period. Signaturefd LLC boosted its stake in Floor & Decor by 18.5% in the 1st quarter. Signaturefd LLC now owns 1,751 shares of the company's stock worth $141,000 after purchasing an additional 273 shares during the period. Finally, Forum Financial Management LP bought a new stake in shares of Floor & Decor during the fourth quarter valued at approximately $202,000.

Floor & Decor Trading Down 2.1%

NYSE FND traded down $1.80 during trading hours on Monday, hitting $81.85. 1,563,620 shares of the company were exchanged, compared to its average volume of 2,162,877. The stock has a 50-day moving average price of $80.83 and a 200 day moving average price of $79.79. The company has a quick ratio of 0.28, a current ratio of 1.25 and a debt-to-equity ratio of 0.08. 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 $8.81 billion, a PE ratio of 41.98, a price-to-earnings-growth ratio of 3.51 and a beta of 1.68.

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. The company had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.21 billion. Floor & Decor had a return on equity of 9.36% and a net margin of 4.59%.The firm's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 earnings per share. Floor & Decor has set its FY 2025 guidance at 1.750-2.000 EPS. Analysts forecast that Floor & Decor Holdings, Inc. will post 2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FND has been the topic of several recent analyst reports. Guggenheim reduced their price objective on shares of Floor & Decor from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Telsey Advisory Group reiterated an "outperform" rating and issued a $92.00 price target on shares of Floor & Decor in a report on Tuesday, August 12th. Evercore ISI reduced their target price on Floor & Decor from $85.00 to $80.00 and set an "in-line" rating on the stock in a report on Tuesday, June 24th. Wall Street Zen cut Floor & Decor from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Finally, Morgan Stanley reduced their target price on Floor & Decor from $105.00 to $97.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Floor & Decor currently has an average rating of "Hold" and a consensus price target of $88.56.

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.