Fred Alger Management LLC Sells 12,692 Shares of Floor & Decor Holdings, Inc. (NYSE:FND)

Fred Alger Management LLC decreased its position in shares of Floor & Decor Holdings, Inc. (NYSE:FND - Free Report) by 19.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,055 shares of the company's stock after selling 12,692 shares during the quarter. Fred Alger Management LLC's holdings in Floor & Decor were worth $6,588,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Verition Fund Management LLC bought a new stake in Floor & Decor during the 3rd quarter valued at $1,473,000. Spyglass Capital Management LLC grew its holdings in shares of Floor & Decor by 15.5% during the third quarter. Spyglass Capital Management LLC now owns 447,676 shares of the company's stock valued at $55,588,000 after buying an additional 59,924 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Floor & Decor by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,158 shares of the company's stock worth $34,787,000 after acquiring an additional 3,103 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Floor & Decor by 2.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,615 shares of the company's stock worth $2,808,000 after acquiring an additional 499 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new position in Floor & Decor in the 3rd quarter valued at about $825,000.

Analysts Set New Price Targets

Several research analysts recently issued reports on FND shares. Mizuho lifted their target price on Floor & Decor from $98.00 to $100.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Piper Sandler dropped their price target on Floor & Decor from $119.00 to $118.00 and set a "neutral" rating on the stock in a report on Monday, October 28th. Melius Research initiated coverage on Floor & Decor in a research note on Monday, September 23rd. They issued a "sell" rating and a $80.00 price objective for the company. Stifel Nicolaus raised their target price on Floor & Decor from $97.50 to $100.00 and gave the company a "hold" rating in a research report on Monday, November 4th. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $95.00 price target on shares of Floor & Decor in a report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $104.37.

Floor & Decor Price Performance

Shares of FND stock traded down $1.87 during trading hours on Friday, reaching $112.21. The stock had a trading volume of 782,513 shares, compared to its average volume of 2,132,255. The stock's fifty day simple moving average is $109.71 and its 200 day simple moving average is $107.85. The firm has a market capitalization of $12.03 billion, a PE ratio of 62.34, a PEG ratio of 14.66 and a beta of 1.83. Floor & Decor Holdings, Inc. has a 12 month low of $89.06 and a 12 month high of $135.67. The company has a current ratio of 1.16, a quick ratio of 0.29 and a debt-to-equity ratio of 0.09.

Floor & Decor (NYSE:FND - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.42 by $0.06. Floor & Decor had a net margin of 4.45% and a return on equity of 9.69%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the firm earned $0.61 EPS. The business's quarterly revenue was up .9% compared to the same quarter last year. On average, equities research analysts predict that Floor & Decor Holdings, Inc. will post 1.71 EPS for the current year.

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.