Riverbridge Partners LLC Reduces Stake in Floor & Decor Holdings, Inc. $FND

Riverbridge Partners LLC decreased its holdings in shares of Floor & Decor Holdings, Inc. (NYSE:FND) by 5.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 914,037 shares of the company’s stock after selling 50,714 shares during the quarter. Floor & Decor accounts for about 1.1% of Riverbridge Partners LLC’s investment portfolio, making the stock its 27th biggest position. Riverbridge Partners LLC’s holdings in Floor & Decor were worth $67,365,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Durable Capital Partners LP purchased a new position in shares of Floor & Decor during the second quarter worth approximately $106,221,000. Artisan Partners Limited Partnership purchased a new stake in shares of Floor & Decor in the 2nd quarter worth $64,450,000. Timucuan Asset Management Inc. FL increased its stake in shares of Floor & Decor by 32.1% during the first quarter. Timucuan Asset Management Inc. FL now owns 2,366,458 shares of the company’s stock valued at $190,429,000 after buying an additional 575,520 shares during the period. Raymond James Financial Inc. raised its holdings in shares of Floor & Decor by 76.9% in the second quarter. Raymond James Financial Inc. now owns 1,160,407 shares of the company’s stock valued at $88,145,000 after acquiring an additional 504,465 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Floor & Decor by 290.8% in the second quarter. Invesco Ltd. now owns 597,083 shares of the company’s stock worth $45,354,000 after acquiring an additional 444,290 shares during the period.

Insider Buying and Selling

In other news, President Bradley Paulsen purchased 5,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were acquired at an average price of $60.27 per share, for a total transaction of $301,350.00. Following the purchase, the president owned 30,000 shares in the company, valued at $1,808,100. This trade represents a 20.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Floor & Decor Stock Up 1.7%

FND stock opened at $62.21 on Monday. The stock has a market capitalization of $6.70 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 2.71 and a beta of 1.75. Floor & Decor Holdings, Inc. has a 52 week low of $55.11 and a 52 week high of $108.76. The company has a quick ratio of 0.34, a current ratio of 1.27 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $64.16 and a 200 day moving average of $74.19.

Floor & Decor (NYSE:FND) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.47 by $0.06. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Floor & Decor had a net margin of 4.65% and a return on equity of 9.34%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 earnings per share. Floor & Decor has set its FY 2025 guidance at 1.870-1.970 EPS. Sell-side analysts forecast that Floor & Decor Holdings, Inc. will post 2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FND shares. The Goldman Sachs Group raised shares of Floor & Decor from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $80.00 to $71.00 in a research report on Thursday, November 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Floor & Decor in a report on Friday, October 31st. Citigroup cut their price target on Floor & Decor from $81.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Wall Street Zen downgraded Floor & Decor from a “hold” rating to a “sell” rating in a research report on Sunday, November 9th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $80.00 target price on shares of Floor & Decor in a report on Wednesday. Six analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $83.25.

Floor & Decor Company Profile

Founded in 2000 and headquartered in Atlanta, Floor & Decor Holdings Inc is a specialty retailer focused on hard surface flooring and related accessories in the United States. The company serves both professional installers and do-it-yourself customers through a growing network of warehouse-format stores and a comprehensive e-commerce platform.

Floor & Decor’s product offering spans ceramic and porcelain tile, engineered and solid hardwood, laminate, luxury vinyl plank and tile, natural stone and a full suite of installation materials such as grout, mortars and underlayment.