Hodges Capital Management Inc. Reduces Holdings in Floor & Decor Holdings Inc (FND)
Hodges Capital Management Inc. reduced its holdings in Floor & Decor Holdings Inc (NYSE:FND) by 23.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 469,295 shares of the company’s stock after selling 143,805 shares during the period. Floor & Decor comprises 2.0% of Hodges Capital Management Inc.’s holdings, making the stock its 7th biggest position. Hodges Capital Management Inc. owned about 0.48% of Floor & Decor worth $19,344,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in FND. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Floor & Decor in the fourth quarter valued at about $26,000. Cornerstone Advisors Inc. grew its holdings in shares of Floor & Decor by 42.2% in the fourth quarter. Cornerstone Advisors Inc. now owns 1,398 shares of the company’s stock valued at $36,000 after purchasing an additional 415 shares during the period. Captrust Financial Advisors grew its holdings in shares of Floor & Decor by 99.4% in the fourth quarter. Captrust Financial Advisors now owns 1,715 shares of the company’s stock valued at $44,000 after purchasing an additional 855 shares during the period. We Are One Seven LLC purchased a new stake in shares of Floor & Decor in the fourth quarter valued at about $51,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Floor & Decor by 62.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,142 shares of the company’s stock valued at $107,000 after purchasing an additional 1,589 shares during the period.
FND stock traded down $0.50 during mid-day trading on Monday, hitting $46.01. 681,758 shares of the company were exchanged, compared to its average volume of 1,277,667. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.22. The firm has a market cap of $4.55 billion, a PE ratio of 47.43, a price-to-earnings-growth ratio of 1.75 and a beta of 1.69. Floor & Decor Holdings Inc has a 12-month low of $23.30 and a 12-month high of $57.85.
In related news, major shareholder Corporate Opportunities F. Ares sold 6,673,401 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $37.50, for a total value of $250,252,537.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director George Vincent West sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 25th. The shares were sold at an average price of $33.01, for a total transaction of $660,200.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at approximately $660,200. The disclosure for this sale can be found here. In the last three months, insiders sold 6,958,252 shares of company stock valued at $261,481,778. Insiders own 7.00% of the company’s stock.
A number of brokerages recently issued reports on FND. Telsey Advisory Group reissued an “outperform” rating and issued a $44.00 price objective (up previously from $40.00) on shares of Floor & Decor in a report on Friday, February 22nd. Wells Fargo & Co set a $37.00 price objective on shares of Floor & Decor and gave the company a “buy” rating in a report on Tuesday, January 8th. Gordon Haskett raised shares of Floor & Decor from a “hold” rating to an “accumulate” rating in a report on Thursday, March 21st. Wedbush set a $43.00 price objective on shares of Floor & Decor and gave the company a “buy” rating in a report on Friday, February 22nd. Finally, Zacks Investment Research lowered shares of Floor & Decor from a “hold” rating to a “sell” rating in a report on Friday, January 4th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.77.
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Floor & Decor Company Profile
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, 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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