Hsbc Holdings PLC Raises Position in 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 grew its position in Floor & Decor Holdings, Inc. (NYSE:FND - Free Report) by 475.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 33,382 shares of the company's stock after buying an additional 27,586 shares during the period. Hsbc Holdings PLC's holdings in Floor & Decor were worth $2,684,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Zions Bancorporation National Association UT purchased a new position in shares of Floor & Decor during the first quarter valued at approximately $47,000. First Horizon Advisors Inc. raised its holdings 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 purchasing an additional 255 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Floor & Decor by 24.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,539 shares of the company's stock valued at $124,000 after purchasing an additional 298 shares during the last quarter. Signaturefd LLC raised its holdings 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 purchasing an additional 273 shares during the last quarter. Finally, CWM LLC raised its holdings 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 purchasing an additional 849 shares during the last quarter.

Floor & Decor Stock Performance

Shares of NYSE FND opened at $82.66 on Wednesday. The firm has a fifty day moving average price of $80.21 and a 200-day moving average price of $80.33. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.25 and a quick ratio of 0.28. The stock has a market cap of $8.90 billion, a PE ratio of 42.39, a price-to-earnings-growth ratio of 3.56 and a beta of 1.68. Floor & Decor Holdings, Inc. has a 1 year low of $66.01 and a 1 year high of $124.68.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group decreased their price objective on shares of Floor & Decor from $81.00 to $70.00 and set a "sell" rating for the company in a report on Friday, May 2nd. Evercore ISI decreased 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. Telsey Advisory Group reaffirmed an "outperform" rating and set a $92.00 target price on shares of Floor & Decor in a report on Tuesday, August 12th. Wells Fargo & Company reduced their target price on shares of Floor & Decor from $80.00 to $75.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Finally, Loop Capital reduced their target price on shares of Floor & Decor from $95.00 to $75.00 and set a "hold" rating for the company in a report on Tuesday, May 6th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.