Floor & Decor Holdings Inc (NYSE:FND) Stock Position Reduced by Riverhead Capital Management LLC

Riverhead Capital Management LLC cut its stake in shares of Floor & Decor Holdings Inc (NYSE:FND) by 55.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,213 shares of the company’s stock after selling 6,400 shares during the period. Riverhead Capital Management LLC’s holdings in Floor & Decor were worth $218,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in FND. Frontier Capital Management Co. LLC grew its position in Floor & Decor by 474.1% during the first quarter. Frontier Capital Management Co. LLC now owns 1,654,918 shares of the company’s stock valued at $68,216,000 after purchasing an additional 1,366,651 shares in the last quarter. FMR LLC grew its position in Floor & Decor by 44.3% during the first quarter. FMR LLC now owns 3,784,344 shares of the company’s stock valued at $155,991,000 after purchasing an additional 1,161,156 shares in the last quarter. Scout Investments Inc. grew its position in Floor & Decor by 47.8% during the second quarter. Scout Investments Inc. now owns 1,080,811 shares of the company’s stock valued at $45,286,000 after purchasing an additional 349,688 shares in the last quarter. Carillon Tower Advisers Inc. grew its position in Floor & Decor by 14.9% during the second quarter. Carillon Tower Advisers Inc. now owns 1,929,877 shares of the company’s stock valued at $80,862,000 after purchasing an additional 250,550 shares in the last quarter. Finally, Marshall Wace LLP grew its position in Floor & Decor by 82.3% during the first quarter. Marshall Wace LLP now owns 527,150 shares of the company’s stock valued at $21,729,000 after purchasing an additional 237,947 shares in the last quarter.

Several research firms have commented on FND. Morgan Stanley boosted their target price on shares of Floor & Decor from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 22nd. Zacks Investment Research raised shares of Floor & Decor from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Wedbush boosted their target price on shares of Floor & Decor from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Goldman Sachs Group began coverage on shares of Floor & Decor in a research report on Thursday, July 11th. They issued a “neutral” rating and a $45.00 target price for the company. Finally, TheStreet downgraded shares of Floor & Decor from a “b-” rating to a “c+” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. Floor & Decor presently has an average rating of “Hold” and a consensus target price of $43.86.

In other news, major shareholder Fs Equity Partners Vi, L.P. sold 3,500,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $43.00, for a total value of $150,500,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Victor Christopherson sold 2,925 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $48.00, for a total transaction of $140,400.00. Following the completion of the sale, the executive vice president now owns 37,677 shares of the company’s stock, valued at $1,808,496. The disclosure for this sale can be found here. Insiders sold 4,599,158 shares of company stock valued at $199,117,304 over the last 90 days. 7.00% of the stock is owned by corporate insiders.

Shares of Floor & Decor stock traded down $0.70 on Friday, reaching $48.87. The stock had a trading volume of 896,762 shares, compared to its average volume of 896,435. The business’s 50-day moving average price is $45.00 and its two-hundred day moving average price is $42.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.28 and a current ratio of 1.33. Floor & Decor Holdings Inc has a fifty-two week low of $23.30 and a fifty-two week high of $50.00. The stock has a market cap of $4.87 billion, a P/E ratio of 50.38, a price-to-earnings-growth ratio of 1.86 and a beta of 1.94.

Floor & Decor (NYSE:FND) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.04. Floor & Decor had a net margin of 6.35% and a return on equity of 18.32%. The business had revenue of $520.31 million during the quarter, compared to analysts’ expectations of $510.73 million. During the same period in the previous year, the company earned $0.27 earnings per share. Floor & Decor’s revenue for the quarter was up 19.8% on a year-over-year basis. As a group, equities analysts forecast that Floor & Decor Holdings Inc will post 1.11 earnings per share for the current fiscal year.

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, vinyl, and natural stone flooring products, as well as decorative and installation accessories. It serves professional installers, commercial businesses, and do it yourself customers.

See Also: What is a stock portfolio tracker?

Want to see what other hedge funds are holding FND? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Floor & Decor Holdings Inc (NYSE:FND).

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

Receive News & Ratings for Floor & Decor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Floor & Decor and related companies with MarketBeat.com's FREE daily email newsletter.