First Trust Advisors LP Invests $4.72 Million in Floor & Decor Holdings Inc (FND) Stock

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First Trust Advisors LP acquired a new position in Floor & Decor Holdings Inc (NYSE:FND) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 95,656 shares of the company’s stock, valued at approximately $4,719,000.

Other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue raised its stake in Floor & Decor by 76.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 4,790 shares of the company’s stock worth $236,000 after purchasing an additional 2,080 shares in the last quarter. Guggenheim Capital LLC acquired a new stake in Floor & Decor in the 1st quarter worth about $279,000. State of Wisconsin Investment Board raised its stake in Floor & Decor by 30.7% in the 1st quarter. State of Wisconsin Investment Board now owns 5,899 shares of the company’s stock worth $307,000 after purchasing an additional 1,384 shares in the last quarter. Hilltop Holdings Inc. acquired a new stake in Floor & Decor in the 1st quarter worth about $320,000. Finally, Amalgamated Bank raised its position in shares of Floor & Decor by 43.2% in the 1st quarter. Amalgamated Bank now owns 6,293 shares of the company’s stock valued at $328,000 after buying an additional 1,899 shares in the last quarter.

Several brokerages have recently commented on FND. ValuEngine upgraded shares of Floor & Decor from a “hold” rating to a “buy” rating in a research report on Monday, June 11th. William Blair began coverage on shares of Floor & Decor in a research report on Wednesday, June 6th. They issued an “outperform” rating for the company. Loop Capital boosted their target price on shares of Floor & Decor from $55.00 to $60.00 and gave the company an “average” rating in a research report on Monday, July 23rd. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Floor & Decor from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday, July 4th. Finally, Piper Jaffray Companies upgraded shares of Floor & Decor from a “neutral” rating to an “overweight” rating and set a $40.00 target price for the company in a research report on Wednesday, June 6th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $48.44.

In related news, EVP Brian K. Robbins sold 17,044 shares of the company’s stock in a transaction that occurred on Tuesday, June 26th. The shares were sold at an average price of $50.00, for a total transaction of $852,200.00. Following the completion of the transaction, the executive vice president now directly owns 10,343 shares in the company, valued at approximately $517,150. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director George Vincent West sold 240,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $54.42, for a total transaction of $13,060,800.00. Following the transaction, the director now owns 167,938 shares of the company’s stock, valued at $9,139,185.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 353,569 shares of company stock valued at $19,195,371. 8.20% of the stock is owned by corporate insiders.

FND stock opened at $36.83 on Friday. The company has a market cap of $3.67 billion, a P/E ratio of 53.38, a P/E/G ratio of 1.57 and a beta of -1.21. Floor & Decor Holdings Inc has a 1 year low of $34.85 and a 1 year high of $58.28. The company has a quick ratio of 0.21, a current ratio of 1.50 and a debt-to-equity ratio of 0.29.

Floor & Decor (NYSE:FND) last released its quarterly earnings data on Thursday, August 2nd. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.02. The business had revenue of $434.28 million during the quarter, compared to analysts’ expectations of $436.17 million. Floor & Decor had a net margin of 9.10% and a return on equity of 19.93%. The firm’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.20 EPS. research analysts expect that Floor & Decor Holdings Inc will post 0.96 earnings per share for the current fiscal year.

About Floor & Decor

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.

Read More: Earnings Per Share (EPS) Explained

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Institutional Ownership by Quarter for Floor & Decor (NYSE:FND)

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