Fred Alger Management LLC Sells 22,237 Shares of Floor & Decor Holdings, Inc. (NYSE:FND)

Fred Alger Management LLC lowered its holdings in Floor & Decor Holdings, Inc. (NYSE:FND - Free Report) by 41.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,818 shares of the company's stock after selling 22,237 shares during the quarter. Fred Alger Management LLC's holdings in Floor & Decor were worth $3,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FND. Louisiana State Employees Retirement System grew its position in Floor & Decor by 0.3% during the fourth quarter. Louisiana State Employees Retirement System now owns 29,800 shares of the company's stock valued at $2,971,000 after buying an additional 100 shares during the period. Advisory Research Inc. grew its position in shares of Floor & Decor by 0.7% during the 4th quarter. Advisory Research Inc. now owns 17,271 shares of the company's stock valued at $1,722,000 after acquiring an additional 115 shares during the period. Corient Private Wealth LLC increased its stake in shares of Floor & Decor by 3.6% in the 4th quarter. Corient Private Wealth LLC now owns 3,416 shares of the company's stock worth $341,000 after purchasing an additional 120 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in Floor & Decor by 1.9% in the 4th quarter. Teacher Retirement System of Texas now owns 6,540 shares of the company's stock worth $652,000 after purchasing an additional 122 shares during the period. Finally, Tidal Investments LLC lifted its position in Floor & Decor by 2.0% during the third quarter. Tidal Investments LLC now owns 6,721 shares of the company's stock valued at $835,000 after purchasing an additional 130 shares in the last quarter.

Floor & Decor Price Performance

NYSE:FND traded down $2.33 during trading hours on Tuesday, reaching $81.47. The stock had a trading volume of 2,361,561 shares, compared to its average volume of 1,777,397. The stock has a market capitalization of $8.75 billion, a PE ratio of 42.88, a PEG ratio of 19.06 and a beta of 1.79. Floor & Decor Holdings, Inc. has a 52 week low of $66.01 and a 52 week high of $126.74. The company has a 50 day moving average price of $77.51 and a two-hundred day moving average price of $93.47. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.29 and a current ratio of 1.16.

Floor & Decor (NYSE:FND - Get Free Report) last announced its quarterly 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 4.62% and a return on equity of 9.80%. The company had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the previous year, the business posted $0.46 earnings per share. Floor & Decor's quarterly revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Floor & Decor Holdings, Inc. will post 2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on FND. Evercore ISI decreased their price objective on Floor & Decor from $95.00 to $90.00 and set an "in-line" rating on the stock in a research note on Tuesday, April 1st. Loop Capital lowered 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. Wells Fargo & Company decreased their price objective on shares of Floor & Decor from $80.00 to $75.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Robert W. Baird lowered their target price on shares of Floor & Decor from $125.00 to $100.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Finally, Stifel Nicolaus cut their price target on Floor & Decor from $110.00 to $92.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $93.56.

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.