TD Asset Management Inc Makes New Investment in Floor & Decor Holdings, Inc. $FND

Key Points

• TD Asset Management Inc. has invested approximately $1.14 million in Floor & Decor Holdings, Inc., acquiring 14,980 shares in the 2nd quarter.
• Several hedge funds have increased their stakes in Floor & Decor, indicating rising institutional interest, with notable increases from MassMutual Private Wealth & Trust FSB and Northwestern Mutual Wealth Management Co.
• Analysts have varied opinions on Floor & Decor, with ratings ranging from "Sell" to "Outperform," and an average price target of $87.24 amidst recent stock price changes.

TD Asset Management Inc bought a new position in shares of Floor & Decor Holdings, Inc. (NYSE:FND - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 14,980 shares of the company's stock, valued at approximately $1,138,000.

A number of other hedge funds have also recently made changes to their positions in FND. MassMutual Private Wealth & Trust FSB increased its stake in Floor & Decor by 5.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 2,639 shares of the company's stock worth $200,000 after buying an additional 139 shares during the period. Northwestern Mutual Wealth Management Co. increased its position 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 worth $41,000 after acquiring an additional 152 shares during the period. Signaturefd LLC increased its position in shares of Floor & Decor by 9.5% during the second quarter. Signaturefd LLC now owns 1,917 shares of the company's stock worth $146,000 after acquiring an additional 166 shares during the period. Commerce Bank raised its stake in shares of Floor & Decor by 3.7% during the first quarter. Commerce Bank now owns 4,712 shares of the company's stock valued at $379,000 after acquiring an additional 168 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its holdings in shares of Floor & Decor by 2.4% in the first quarter. Crossmark Global Holdings Inc. now owns 7,428 shares of the company's stock valued at $598,000 after purchasing an additional 171 shares during the period.

Analyst Ratings Changes

FND has been the topic of several research reports. Wall Street Zen downgraded Floor & Decor from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Morgan Stanley cut their price target on Floor & Decor from $105.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Wolfe Research began coverage on Floor & Decor in a report on Thursday, September 18th. They issued an "underperform" rating and a $76.00 price objective for the company. Telsey Advisory Group reiterated an "outperform" rating and set a $92.00 target price on shares of Floor & Decor in a report on Tuesday, August 12th. Finally, Piper Sandler cut their target price on shares of Floor & Decor from $80.00 to $78.00 and set a "neutral" rating on the stock in a research report on Friday, August 1st. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Floor & Decor presently has an average rating of "Hold" and an average price target of $87.24.

Floor & Decor Stock Down 1.7%

Floor & Decor stock opened at $71.30 on Thursday. 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 capitalization of $7.68 billion, a PE ratio of 36.57, a price-to-earnings-growth ratio of 3.11 and a beta of 1.70. The business has a 50 day simple moving average of $79.31 and a 200-day simple moving average of $77.34. Floor & Decor Holdings, Inc. has a 12 month low of $66.01 and a 12 month high of $122.90.

Floor & Decor (NYSE:FND - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.01. The firm had revenue of $1.21 billion for 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 firm's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 EPS. Floor & Decor has set its FY 2025 guidance at 1.750-2.000 EPS. On average, analysts anticipate that Floor & Decor Holdings, Inc. will post 2 EPS for the current fiscal year.

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.

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