Malaga Cove Capital LLC Acquires New Position in Floor & Decor Holdings, Inc. (NYSE:FND)

Malaga Cove Capital LLC acquired a new stake in Floor & Decor Holdings, Inc. (NYSE:FND) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 3,111 shares of the company’s stock, valued at approximately $347,000.

A number of other institutional investors also recently modified their holdings of FND. Whittier Trust Co. of Nevada Inc. increased its holdings in Floor & Decor by 24.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 577 shares of the company’s stock worth $64,000 after buying an additional 113 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Floor & Decor by 16.4% during the 4th quarter. Lindbrook Capital LLC now owns 885 shares of the company’s stock valued at $99,000 after purchasing an additional 125 shares in the last quarter. Roundview Capital LLC lifted its stake in shares of Floor & Decor by 0.7% in the 3rd quarter. Roundview Capital LLC now owns 18,735 shares of the company’s stock valued at $1,696,000 after purchasing an additional 129 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Floor & Decor by 2.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 5,410 shares of the company’s stock worth $490,000 after purchasing an additional 136 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in Floor & Decor by 9.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,805 shares of the company’s stock worth $201,000 after buying an additional 163 shares during the last quarter.

Floor & Decor Price Performance

Shares of Floor & Decor stock traded up $0.28 during midday trading on Friday, hitting $113.04. 2,307,069 shares of the company were exchanged, compared to its average volume of 1,240,906. The firm has a 50 day simple moving average of $118.90 and a 200-day simple moving average of $106.12. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.14 and a quick ratio of 0.18. The firm has a market cap of $12.07 billion, a P/E ratio of 54.61, a PEG ratio of 5.46 and a beta of 1.86. Floor & Decor Holdings, Inc. has a 52 week low of $76.30 and a 52 week high of $135.67.

Floor & Decor (NYSE:FND) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. Floor & Decor had a net margin of 5.11% and a return on equity of 11.97%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 earnings per share. Research analysts forecast that Floor & Decor Holdings, Inc. will post 1.91 earnings per share for the current year.

Insider Buying and Selling

In other Floor & Decor news, CFO Bryan Langley sold 5,865 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $119.86, for a total value of $702,978.90. Following the completion of the transaction, the chief financial officer now directly owns 17,422 shares of the company’s stock, valued at $2,088,200.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Norman Axelrod sold 40,000 shares of Floor & Decor stock in a transaction that occurred on 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 completion of the sale, the director now owns 226,080 shares in the company, valued at approximately $27,122,817.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Bryan Langley sold 5,865 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $119.86, for a total transaction of $702,978.90. Following the completion of the transaction, the chief financial officer now owns 17,422 shares in the company, valued at $2,088,200.92. The disclosure for this sale can be found here. Insiders have sold a total of 90,867 shares of company stock worth $11,016,089 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on FND. The Goldman Sachs Group upped their price target on Floor & Decor from $71.00 to $79.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Bank of America lifted their price target on shares of Floor & Decor from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Stifel Nicolaus lowered their target price on shares of Floor & Decor from $115.00 to $110.00 and set a “hold” rating on the stock in a research note on Monday, February 26th. Piper Sandler boosted their target price on shares of Floor & Decor from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 9th. Finally, Sanford C. Bernstein downgraded Floor & Decor from an “outperform” rating to a “market perform” rating and raised their price target for the company from $100.00 to $115.00 in a research report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $108.76.

About Floor & Decor

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.