Sheets Smith Wealth Management Invests $363,000 in Floor & Decor Holdings, Inc. (NYSE:FND)


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Sheets Smith Wealth Management bought a new position in shares of Floor & Decor Holdings, Inc. (NYSE:FND) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,908 shares of the company’s stock, valued at approximately $363,000.

Several other institutional investors also recently made changes to their positions in FND. Vanguard Group Inc. raised its position in shares of Floor & Decor by 11.0% during the second quarter. Vanguard Group Inc. now owns 7,948,503 shares of the company’s stock worth $458,230,000 after purchasing an additional 785,012 shares during the period. BlackRock Inc. raised its position in shares of Floor & Decor by 13.7% during the third quarter. BlackRock Inc. now owns 6,336,203 shares of the company’s stock worth $473,947,000 after purchasing an additional 764,306 shares during the period. Artemis Investment Management LLP raised its position in shares of Floor & Decor by 197.8% during the third quarter. Artemis Investment Management LLP now owns 540,372 shares of the company’s stock worth $40,367,000 after purchasing an additional 358,887 shares during the period. State Street Corp raised its position in shares of Floor & Decor by 24.0% during the third quarter. State Street Corp now owns 1,763,269 shares of the company’s stock worth $131,893,000 after purchasing an additional 341,308 shares during the period. Finally, New York State Common Retirement Fund raised its position in shares of Floor & Decor by 80.7% during the third quarter. New York State Common Retirement Fund now owns 645,951 shares of the company’s stock worth $48,317,000 after purchasing an additional 288,557 shares during the period. 95.41% of the stock is currently owned by institutional investors.

In other Floor & Decor news, EVP David Victor Christopherson sold 7,043 shares of the firm’s stock in a transaction that occurred on Wednesday, December 9th. The stock was sold at an average price of $89.90, for a total value of $633,165.70. Following the sale, the executive vice president now owns 47,209 shares of the company’s stock, valued at approximately $4,244,089.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas V. Taylor sold 48,220 shares of the firm’s stock in a transaction that occurred on Monday, December 7th. The shares were sold at an average price of $84.30, for a total value of $4,064,946.00. Following the completion of the sale, the chief executive officer now directly owns 288,448 shares in the company, valued at approximately $24,316,166.40. The disclosure for this sale can be found here. Insiders sold a total of 187,543 shares of company stock worth $15,530,794 in the last ninety days. Insiders own 5.20% of the company’s stock.

Several research firms recently weighed in on FND. BNP Paribas began coverage on Floor & Decor in a research report on Monday, October 5th. They set an “outperform” rating and a $89.00 price target on the stock. Exane BNP Paribas began coverage on Floor & Decor in a research report on Monday, October 5th. They set an “outperform” rating and a $89.00 price target on the stock. BidaskClub raised Floor & Decor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 12th. Piper Sandler boosted their target price on Floor & Decor from $66.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. Finally, Raymond James boosted their target price on Floor & Decor from $75.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, November 2nd. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $80.81.

FND opened at $104.02 on Thursday. The firm has a market capitalization of $10.82 billion, a P/E ratio of 63.43, a price-to-earnings-growth ratio of 2.58 and a beta of 1.88. The stock’s 50 day moving average price is $92.66 and its two-hundred day moving average price is $76.81. The company has a quick ratio of 0.61, a current ratio of 1.57 and a debt-to-equity ratio of 0.22. Floor & Decor Holdings, Inc. has a 12-month low of $24.36 and a 12-month high of $105.60.

Floor & Decor (NYSE:FND) last released its earnings results on Thursday, October 29th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.16. The firm had revenue of $684.85 million for the quarter, compared to analyst estimates of $639.31 million. Floor & Decor had a return on equity of 16.23% and a net margin of 7.77%. The company’s revenue was up 31.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS. As a group, analysts anticipate that Floor & Decor Holdings, Inc. will post 1.47 earnings per share for the current year.

About Floor & Decor

Floor & Decor Holdings, Inc operates as a multi-channel specialty retailer of hard surface flooring and related accessories. The company's stores offer tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative and installation accessories. It serves professional installers, commercial businesses, and do it yourself customers.

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Institutional Ownership by Quarter for Floor & Decor (NYSE:FND)

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