Riverbridge Partners LLC Reduces Stake in Floor & Decor Holdings, Inc. $FND

Key Points

• Riverbridge Partners LLC reduced its stake in Floor & Decor Holdings by 9.0%, now owning approximately $73.3 million worth of shares, which represents 1.2% of its portfolio.
• In the second quarter, several other institutional investors increased their stakes in Floor & Decor, with notable increases from Salvus Wealth Management LLC (12.9%) and GAMMA Investing LLC (85.0%).
• Floor & Decor reported Q2 earnings of $0.58 per share, exceeding expectations, and noted a 7.2% year-over-year revenue increase to $1.21 billion.

Riverbridge Partners LLC decreased its stake in shares of Floor & Decor Holdings, Inc. (NYSE:FND - Free Report) by 9.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 964,751 shares of the company's stock after selling 95,945 shares during the period. Floor & Decor accounts for 1.2% of Riverbridge Partners LLC's investment portfolio, making the stock its 29th largest position. Riverbridge Partners LLC owned about 0.90% of Floor & Decor worth $73,283,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its holdings in shares of Floor & Decor by 1.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 68,092 shares of the company's stock valued at $5,172,000 after acquiring an additional 1,089 shares in the last quarter. Salvus Wealth Management LLC raised its holdings in shares of Floor & Decor by 12.9% in the 2nd quarter. Salvus Wealth Management LLC now owns 54,109 shares of the company's stock valued at $4,110,000 after acquiring an additional 6,199 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Floor & Decor by 85.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,396 shares of the company's stock valued at $182,000 after acquiring an additional 1,101 shares in the last quarter. Park Avenue Securities LLC purchased a new stake in shares of Floor & Decor in the 2nd quarter valued at about $356,000. Finally, UMB Bank n.a. raised its holdings in shares of Floor & Decor by 31.5% in the 2nd quarter. UMB Bank n.a. now owns 1,362 shares of the company's stock valued at $103,000 after acquiring an additional 326 shares in the last quarter.

Floor & Decor Price Performance

FND opened at $79.58 on Thursday. The stock's 50 day simple moving average is $82.50 and its 200 day simple moving average is $78.87. 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 Holdings, Inc. has a 1 year low of $66.01 and a 1 year high of $124.68. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of 40.81, a PEG ratio of 3.52 and a beta of 1.68.

Floor & Decor (NYSE:FND - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. Floor & Decor had a return on equity of 9.36% and a net margin of 4.59%.The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the company earned $0.52 EPS. Floor & Decor'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 predict that Floor & Decor Holdings, Inc. will post 2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $92.00 price target on shares of Floor & Decor in a report on Tuesday, August 12th. Wolfe Research assumed coverage on Floor & Decor in a report on Thursday, September 18th. They issued an "underperform" rating and a $76.00 price target on the stock. Evercore ISI lowered their price target on Floor & Decor from $90.00 to $85.00 and set an "in-line" rating on the stock in a report on Tuesday. Guggenheim lowered their price target on Floor & Decor from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Finally, Wall Street Zen lowered Floor & Decor from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Floor & Decor has an average rating of "Hold" and a consensus price target of $88.63.

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.

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