Salvus Wealth Management LLC Boosts Stock Position in Floor & Decor Holdings, Inc. $FND

Key Points

• Salvus Wealth Management LLC increased its stake in Floor & Decor by 12.9% in Q2, purchasing an additional 6,199 shares, now holding 54,109 shares valued at $4.11 million.
• Multiple institutions, including Northwestern Mutual and First Horizon Advisors, have significantly increased their stakes in Floor & Decor during the first quarter.
• Several analysts have lowered their price targets for Floor & Decor, with the consensus price target now at $87.82 and the stock rating averaging "Hold."

Salvus Wealth Management LLC boosted its stake in Floor & Decor Holdings, Inc. (NYSE:FND - Free Report) by 12.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,109 shares of the company's stock after buying an additional 6,199 shares during the period. Floor & Decor accounts for approximately 2.4% of Salvus Wealth Management LLC's portfolio, making the stock its 13th largest position. Salvus Wealth Management LLC owned 0.05% of Floor & Decor worth $4,110,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of Floor & Decor by 42.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 514 shares of the company's stock valued at $41,000 after purchasing an additional 152 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Floor & Decor during the first quarter valued at approximately $47,000. eCIO Inc. bought a new position in shares of Floor & Decor during the first quarter valued at approximately $62,000. First Horizon Advisors Inc. increased its stake 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 in the last quarter. Finally, UMB Bank n.a. increased its position in shares of Floor & Decor by 31.5% during the second 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.

Analysts Set New Price Targets

FND has been the subject of several analyst reports. Evercore ISI reduced their price target on shares of Floor & Decor from $85.00 to $80.00 and set an "in-line" rating for the company in a research report on Tuesday, June 24th. Piper Sandler reduced their price target on shares of Floor & Decor from $80.00 to $78.00 and set a "neutral" rating for the company in a research report on Friday, August 1st. Morgan Stanley cut their target price on shares of Floor & Decor from $105.00 to $97.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Wall Street Zen downgraded shares of Floor & Decor from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $92.00 price objective on shares of Floor & Decor in a research report on Tuesday, August 12th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $87.82.

Floor & Decor Stock Down 4.3%

FND stock opened at $83.35 on Monday. The stock has a market capitalization of $8.98 billion, a P/E ratio of 42.74, a P/E/G ratio of 3.58 and a beta of 1.68. Floor & Decor Holdings, Inc. has a 52 week low of $66.01 and a 52 week high of $124.68. The firm has a 50-day simple moving average of $82.44 and a 200-day simple moving average of $78.91. 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 (NYSE:FND - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $1.21 billion. During the same period in the previous year, the business posted $0.52 EPS. Floor & Decor's revenue was up 7.2% on a year-over-year basis. Floor & Decor has set its FY 2025 guidance at 1.750-2.000 EPS. Equities analysts forecast that Floor & Decor Holdings, Inc. will post 2 earnings per share for the current fiscal year.

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.

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