Principal Financial Group Inc. Purchases 1,558,409 Shares of Floor & Decor Holdings, Inc. (NYSE:FND)

Principal Financial Group Inc. increased its position in shares of Floor & Decor Holdings, Inc. (NYSE:FND - Free Report) by 106.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,023,172 shares of the company's stock after buying an additional 1,558,409 shares during the period. Principal Financial Group Inc. owned 2.81% of Floor & Decor worth $243,275,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FND. Capital Research Global Investors boosted its holdings in shares of Floor & Decor by 76.8% during the 4th quarter. Capital Research Global Investors now owns 13,316,446 shares of the company's stock worth $1,327,653,000 after buying an additional 5,784,573 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in shares of Floor & Decor by 12,208.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,327,267 shares of the company's stock worth $132,329,000 after buying an additional 1,316,484 shares during the period. Marshall Wace LLP bought a new stake in shares of Floor & Decor during the 4th quarter worth $109,574,000. Madison Investment Advisors LLC acquired a new position in Floor & Decor during the 4th quarter valued at $97,552,000. Finally, Raymond James Financial Inc. acquired a new position in Floor & Decor during the 4th quarter valued at $54,640,000.

Floor & Decor Price Performance

Shares of FND traded down $1.25 during trading hours on Monday, hitting $80.82. The stock had a trading volume of 2,240,764 shares, compared to its average volume of 1,849,894. The company's fifty day moving average is $75.43 and its two-hundred day moving average is $85.06. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.22 and a quick ratio of 0.27. 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 capitalization of $8.70 billion, a price-to-earnings ratio of 42.76, a P/E/G ratio of 2.55 and a beta of 1.70.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on FND. Guggenheim cut their target price on shares of Floor & Decor from $115.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Wells Fargo & Company cut their target price on shares of Floor & Decor from $80.00 to $75.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Loop Capital cut their target price on shares of Floor & Decor from $95.00 to $75.00 and set a "hold" rating for the company in a research note on Tuesday, May 6th. Stifel Nicolaus cut their target price on shares of Floor & Decor from $110.00 to $92.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Piper Sandler cut their target price on shares of Floor & Decor from $90.00 to $80.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Floor & Decor currently has a consensus rating of "Hold" and an average target price of $93.00.

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.