TimesSquare Capital Management LLC Lowers Stake in Floor & Decor Holdings, Inc. $FND

TimesSquare Capital Management LLC lessened its holdings in Floor & Decor Holdings, Inc. (NYSE:FND) by 4.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 487,440 shares of the company’s stock after selling 21,202 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Floor & Decor were worth $35,924,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Principal Financial Group Inc. increased its position in Floor & Decor by 46.0% during the 3rd quarter. Principal Financial Group Inc. now owns 6,398,431 shares of the company’s stock valued at $471,567,000 after buying an additional 2,015,999 shares in the last quarter. Durable Capital Partners LP purchased a new stake in shares of Floor & Decor in the second quarter worth $106,221,000. Artisan Partners Limited Partnership purchased a new stake in shares of Floor & Decor in the second quarter worth $64,450,000. Raymond James Financial Inc. increased its holdings in shares of Floor & Decor by 76.9% during 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. raised its position in shares of Floor & Decor by 290.8% in the 2nd quarter. Invesco Ltd. now owns 597,083 shares of the company’s stock worth $45,354,000 after purchasing an additional 444,290 shares during the last quarter.

Floor & Decor Stock Performance

Shares of NYSE FND opened at $70.20 on Friday. The company has a market cap of $7.56 billion, a P/E ratio of 35.10, a P/E/G ratio of 2.72 and a beta of 1.74. Floor & Decor Holdings, Inc. has a 52-week low of $55.11 and a 52-week high of $103.87. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.34 and a current ratio of 1.27. The firm’s fifty day moving average is $67.20 and its two-hundred day moving average is $71.55.

Wall Street Analysts Forecast Growth

FND has been the topic of several recent analyst reports. Barclays cut their price objective on shares of Floor & Decor from $78.00 to $70.00 and set a “positive” rating on the stock in a research report on Thursday, January 8th. Piper Sandler raised Floor & Decor from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $75.00 to $80.00 in a research report on Wednesday, November 12th. JPMorgan Chase & Co. decreased their target price on shares of Floor & Decor from $94.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. TD Cowen raised their price objective on shares of Floor & Decor from $77.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, January 20th. Finally, Evercore reduced their price target on Floor & Decor from $75.00 to $65.00 and set an “in-line” rating for the company in a research report on Tuesday, November 11th. Seven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Floor & Decor presently has an average rating of “Hold” and an average price target of $81.89.

Floor & Decor 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.