New York Life Investment Management LLC Makes New Investment in Floor & Decor Holdings, Inc. (NYSE:FND)

New York Life Investment Management LLC purchased a new position in shares of Floor & Decor Holdings, Inc. (NYSE:FND) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,912 shares of the company’s stock, valued at approximately $1,329,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale bought a new position in shares of Floor & Decor in the third quarter valued at approximately $30,000. Mendota Financial Group LLC bought a new position in shares of Floor & Decor in the fourth quarter valued at approximately $33,000. Y.D. More Investments Ltd bought a new position in shares of Floor & Decor in the third quarter valued at approximately $45,000. GAMMA Investing LLC bought a new position in shares of Floor & Decor in the fourth quarter valued at approximately $53,000. Finally, NBC Securities Inc. bought a new position in shares of Floor & Decor in the third quarter valued at approximately $60,000.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FND shares. Evercore ISI lowered their price target on shares of Floor & Decor from $120.00 to $115.00 and set an “in-line” rating for the company in a report on Friday, May 3rd. Bank of America raised their price target on shares of Floor & Decor from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, March 14th. TD Cowen lowered their price target on shares of Floor & Decor from $125.00 to $115.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Telsey Advisory Group reissued a “market perform” rating and issued a $110.00 price target on shares of Floor & Decor in a report on Monday, April 29th. Finally, Piper Sandler lifted their target price on shares of Floor & Decor from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $108.76.

Floor & Decor Price Performance

Shares of FND stock opened at $116.87 on Wednesday. Floor & Decor Holdings, Inc. has a 12-month low of $76.30 and a 12-month high of $135.67. The firm has a market capitalization of $12.48 billion, a price-to-earnings ratio of 56.46, a price-to-earnings-growth ratio of 5.51 and a beta of 1.86. The company has a quick ratio of 0.21, a current ratio of 1.17 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average of $118.85 and a 200-day moving average of $106.89.

Floor & Decor (NYSE:FND) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. Floor & Decor had a net margin of 5.11% and a return on equity of 11.80%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the business earned $0.66 EPS. The firm’s revenue was down 2.2% on a year-over-year basis. On average, equities research analysts forecast that Floor & Decor Holdings, Inc. will post 1.9 earnings per share for the current year.

Insider Activity at Floor & Decor

In related news, Director Norman Axelrod sold 40,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $119.97, for a total value of $4,798,800.00. Following the sale, the director now directly owns 226,080 shares of the company’s stock, valued at approximately $27,122,817.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Floor & Decor news, Director Norman Axelrod sold 40,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $119.97, for a total transaction of $4,798,800.00. Following the sale, the director now directly owns 226,080 shares of the company’s stock, valued at approximately $27,122,817.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO David Victor Christopherson sold 6,850 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $118.70, for a total transaction of $813,095.00. Following the sale, the chief accounting officer now directly owns 25,271 shares in the company, valued at $2,999,667.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,867 shares of company stock valued at $11,016,089. 2.10% of the stock is owned by corporate insiders.

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.