Fred Alger Management LLC Sells 22,237 Shares of Floor & Decor Holdings, Inc. (NYSE:FND)

Fred Alger Management LLC lowered its position in shares of Floor & Decor Holdings, Inc. (NYSE:FND) by 41.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,818 shares of the company’s stock after selling 22,237 shares during the period. Fred Alger Management LLC’s holdings in Floor & Decor were worth $3,073,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its holdings in shares of Floor & Decor by 76.8% in the 4th quarter. Capital Research Global Investors now owns 13,316,446 shares of the company’s stock worth $1,327,653,000 after purchasing an additional 5,784,573 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in Floor & Decor by 12,208.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,327,267 shares of the company’s stock worth $132,329,000 after buying an additional 1,316,484 shares in the last quarter. Fisher Funds Management LTD bought a new stake in Floor & Decor in the 4th quarter worth about $128,797,000. Marshall Wace LLP purchased a new position in Floor & Decor in the 4th quarter worth about $109,574,000. Finally, Madison Investment Advisors LLC bought a new position in Floor & Decor during the 4th quarter valued at about $97,552,000.

Floor & Decor Stock Performance

Shares of NYSE FND opened at $75.52 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.16 and a quick ratio of 0.29. Floor & Decor Holdings, Inc. has a 1 year low of $66.01 and a 1 year high of $126.74. The firm has a fifty day moving average price of $77.77 and a 200-day moving average price of $93.82. The stock has a market cap of $8.11 billion, a PE ratio of 39.75, a price-to-earnings-growth ratio of 19.06 and a beta of 1.79.

Floor & Decor (NYSE:FND) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Floor & Decor had a return on equity of 9.80% and a net margin of 4.62%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.46 earnings per share. Equities analysts anticipate that Floor & Decor Holdings, Inc. will post 2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FND. Gordon Haskett cut shares of Floor & Decor from a “buy” rating to a “hold” rating in a report on Friday, April 4th. Wedbush lowered shares of Floor & Decor from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $110.00 to $100.00 in a research note on Friday, February 14th. Evercore ISI dropped their price target on Floor & Decor from $95.00 to $90.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 1st. Guggenheim reduced their price objective on Floor & Decor from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $115.00 target price on shares of Floor & Decor in a research report on Monday, April 28th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $93.56.

Floor & Decor Profile

Floor & Decor Holdings, Inc engages in the retail of hard surface flooring and related accessories. It provides wood, stone, and flooring products. Its products include vinyl, laminate, and tiles with materials installation for living rooms, kitchen, bathrooms, and walls. The company was founded by George Vincent West in 2000 and is headquartered in Atlanta, GA.