Federated Hermes Inc. Cuts Position in Floor & Decor Holdings, Inc. (NYSE:FND)

Federated Hermes Inc. reduced its stake in shares of Floor & Decor Holdings, Inc. (NYSE:FND) by 4.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 458,001 shares of the company’s stock after selling 19,509 shares during the period. Federated Hermes Inc.’s holdings in Floor & Decor were worth $45,530,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP lifted its stake in shares of Floor & Decor by 40.6% in the fourth quarter. Wellington Management Group LLP now owns 919,362 shares of the company’s stock valued at $102,564,000 after purchasing an additional 265,622 shares during the period. Duality Advisers LP acquired a new stake in shares of Floor & Decor during the 1st quarter valued at approximately $4,238,000. Dimensional Fund Advisors LP boosted its stake in shares of Floor & Decor by 12.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 726,850 shares of the company’s stock worth $81,099,000 after acquiring an additional 79,210 shares in the last quarter. American International Group Inc. grew its holdings in shares of Floor & Decor by 7,906.5% in the 4th quarter. American International Group Inc. now owns 144,837 shares of the company’s stock worth $16,158,000 after acquiring an additional 143,028 shares during the period. Finally, Ghisallo Capital Management LLC purchased a new position in Floor & Decor in the 4th quarter valued at approximately $6,212,000.

Wall Street Analysts Forecast Growth

FND has been the topic of a number of research analyst reports. Evercore ISI decreased their target price on Floor & Decor from $120.00 to $100.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 2nd. Citigroup lowered their price objective on shares of Floor & Decor from $109.00 to $104.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Guggenheim cut their target price on shares of Floor & Decor from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Piper Sandler lowered their price target on shares of Floor & Decor from $115.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Telsey Advisory Group cut their price objective on Floor & Decor from $100.00 to $95.00 and set a “market perform” rating for the company in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Floor & Decor currently has an average rating of “Hold” and an average target price of $103.84.

Floor & Decor Price Performance

FND opened at $113.92 on Friday. Floor & Decor Holdings, Inc. has a 1 year low of $76.30 and a 1 year high of $135.67. The company’s 50 day simple moving average is $101.32 and its 200 day simple moving average is $111.13. The stock has a market capitalization of $12.21 billion, a PE ratio of 55.03, a P/E/G ratio of 2.19 and a beta of 1.79. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.27 and a current ratio of 1.17.

Floor & Decor (NYSE:FND) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Floor & Decor had a net margin of 4.78% and a return on equity of 10.69%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.66 EPS. As a group, sell-side analysts expect that Floor & Decor Holdings, Inc. will post 1.67 EPS for the current year.

Floor & Decor Company Profile

Floor & Decor Holdings, Inc together with its subsidiaries, operates as a multi-channel specialty retailer of hard surface flooring and related accessories, and commercial surfaces seller in Georgia. The company offers tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative accessories, wall tiles, and installation materials and tools; and vanities, shower doors, bath accessories, faucets, sinks, custom countertops, bathroom mirrors, and bathroom lighting.