State of Michigan Retirement System Has $3.40 Million Position in Floor & Decor Holdings, Inc. (NYSE:FND)

State of Michigan Retirement System raised its holdings in shares of Floor & Decor Holdings, Inc. (NYSE:FND) by 2.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 26,200 shares of the company’s stock after acquiring an additional 600 shares during the period. State of Michigan Retirement System’s holdings in Floor & Decor were worth $3,396,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in FND. Invesco Ltd. increased its holdings in Floor & Decor by 60.3% in the third quarter. Invesco Ltd. now owns 129,458 shares of the company’s stock valued at $11,716,000 after purchasing an additional 48,712 shares during the last quarter. Hsbc Holdings PLC bought a new position in Floor & Decor during the 3rd quarter worth approximately $653,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Floor & Decor by 131.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,017 shares of the company’s stock worth $635,000 after acquiring an additional 3,986 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Floor & Decor by 23.4% during the third quarter. O Shaughnessy Asset Management LLC now owns 2,922 shares of the company’s stock valued at $264,000 after purchasing an additional 555 shares during the period. Finally, JS Capital Management LLC increased its stake in Floor & Decor by 900.0% in the third quarter. JS Capital Management LLC now owns 20,000 shares of the company’s stock valued at $1,810,000 after purchasing an additional 18,000 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FND. Mizuho reduced their price target on shares of Floor & Decor from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Piper Sandler upped their price target on shares of Floor & Decor from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, April 9th. TD Cowen dropped their price objective on shares of Floor & Decor from $125.00 to $115.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Robert W. Baird reaffirmed an “outperform” rating and issued a $127.00 target price on shares of Floor & Decor in a research note on Tuesday. Finally, Wedbush reissued an “outperform” rating and issued a $125.00 price target on shares of Floor & Decor in a research note on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $108.62.

Floor & Decor Stock Performance

NYSE FND opened at $96.09 on Wednesday. The firm has a 50-day moving average price of $114.29 and a two-hundred day moving average price of $113.99. Floor & Decor Holdings, Inc. has a 12-month low of $76.30 and a 12-month high of $135.67. The company has a market capitalization of $10.28 billion, a P/E ratio of 46.42, a P/E/G ratio of 10.24 and a beta of 1.74. The company has a quick ratio of 0.21, a current ratio of 1.17 and a debt-to-equity ratio of 0.10.

Floor & Decor (NYSE:FND) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. Floor & Decor had a return on equity of 11.80% and a net margin of 5.11%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 earnings per share. Analysts anticipate that Floor & Decor Holdings, Inc. will post 1.89 earnings per share for the current year.

Insider Buying and Selling

In other Floor & Decor news, Director Peter Starrett sold 5,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $118.24, for a total transaction of $591,200.00. Following the sale, the director now directly owns 128,189 shares in the company, valued at $15,157,067.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Thomas V. Taylor sold 34,199 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $125.00, for a total transaction of $4,274,875.00. Following the completion of the sale, the chief executive officer now directly owns 168,386 shares in the company, valued at approximately $21,048,250. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Peter Starrett sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $118.24, for a total value of $591,200.00. Following the completion of the sale, the director now directly owns 128,189 shares in the company, valued at $15,157,067.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,778 shares of company stock worth $5,182,791. Company insiders own 2.10% of the company’s stock.

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.