Floor & Decor Holdings, Inc. (NYSE:FND) Shares Sold by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. reduced its stake in Floor & Decor Holdings, Inc. by 29.2%, owning 27,145 shares after selling 11,219 shares in Q1.
• Multiple hedge funds, including Huntington National Bank and CWM LLC, have significantly increased their positions in Floor & Decor recently.
• Analysts have changed their price targets for Floor & Decor, with Mizuho reducing it from $100 to $80, while maintaining a "neutral" rating on the stock.

Victory Capital Management Inc. decreased its position in shares of Floor & Decor Holdings, Inc. (NYSE:FND - Free Report) by 29.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,145 shares of the company's stock after selling 11,219 shares during the quarter. Victory Capital Management Inc.'s holdings in Floor & Decor were worth $2,184,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FND. Massachusetts Financial Services Co. MA lifted its stake in Floor & Decor by 22.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 595,836 shares of the company's stock worth $47,947,000 after purchasing an additional 107,574 shares in the last quarter. TimesSquare Capital Management LLC raised its position in Floor & Decor by 83.3% in the 1st quarter. TimesSquare Capital Management LLC now owns 499,707 shares of the company's stock worth $40,211,000 after purchasing an additional 227,030 shares during the period. Signaturefd LLC increased its position in shares of Floor & Decor by 18.5% during the first quarter. Signaturefd LLC now owns 1,751 shares of the company's stock worth $141,000 after acquiring an additional 273 shares during the period. MQS Management LLC purchased a new position in shares of Floor & Decor during the first quarter worth approximately $245,000. Finally, CWM LLC increased its position in shares of Floor & Decor by 67.6% during the first quarter. CWM LLC now owns 2,105 shares of the company's stock worth $169,000 after acquiring an additional 849 shares during the period.

Analyst Ratings Changes

FND has been the topic of several research reports. Wall Street Zen lowered shares of Floor & Decor from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Telsey Advisory Group cut their price target on shares of Floor & Decor from $100.00 to $92.00 and set an "outperform" rating on the stock in a report on Monday. Piper Sandler cut their price target on shares of Floor & Decor from $80.00 to $78.00 and set a "neutral" rating on the stock in a report on Friday. Guggenheim cut their price target on shares of Floor & Decor from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Friday. Finally, Loop Capital cut their price target on shares of Floor & Decor from $95.00 to $75.00 and set a "hold" rating on the stock in a report on Tuesday, May 6th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $88.56.

Floor & Decor Stock Performance

Shares of FND traded up $0.85 during trading hours on Friday, reaching $77.49. 1,364,305 shares of the company traded hands, compared to its average volume of 2,061,463. The stock has a market capitalization of $8.34 billion, a P/E ratio of 40.97, a P/E/G ratio of 2.43 and a beta of 1.70. The business has a fifty day moving average price of $77.05 and a 200-day moving average price of $82.83. Floor & Decor Holdings, Inc. has a 12-month low of $66.01 and a 12-month high of $124.68. The company has a quick ratio of 0.27, a current ratio of 1.22 and a debt-to-equity ratio of 0.09.

Floor & Decor (NYSE:FND - Get Free Report) last posted its 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 company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. Floor & Decor had a net margin of 4.53% and a return on equity of 9.32%. The firm's quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 earnings per share. Equities analysts anticipate that Floor & Decor Holdings, Inc. will post 2 EPS for the current fiscal year.

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.