Principal Financial Group Inc. Raises Stock Holdings in Floor & Decor Holdings, Inc. $FND

Principal Financial Group Inc. raised its position in shares of Floor & Decor Holdings, Inc. (NYSE:FND) by 46.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,398,431 shares of the company’s stock after buying an additional 2,015,999 shares during the quarter. Principal Financial Group Inc. owned about 5.94% of Floor & Decor worth $471,567,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. State of Wyoming acquired a new position in Floor & Decor during the 2nd quarter valued at about $46,000. Steph & Co. acquired a new stake in Floor & Decor during the 3rd quarter valued at approximately $48,000. Mather Group LLC. acquired a new position in Floor & Decor during the third quarter valued at $49,000. Bank of Jackson Hole Trust lifted its holdings in shares of Floor & Decor by 37.7% in the 3rd quarter. Bank of Jackson Hole Trust now owns 679 shares of the company’s stock valued at $50,000 after buying an additional 186 shares during the period. Finally, AlphaQuest LLC lifted its holdings in Floor & Decor by 27.2% in the third quarter. AlphaQuest LLC now owns 805 shares of the company’s stock valued at $59,000 after acquiring an additional 172 shares during the period.

Floor & Decor Trading Down 3.6%

FND opened at $65.79 on Friday. Floor & Decor Holdings, Inc. has a 12 month low of $55.11 and a 12 month high of $104.89. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 2.64 and a beta of 1.73. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.27 and a quick ratio of 0.34. The business has a fifty day moving average price of $66.32 and a 200 day moving average price of $72.31.

Floor & Decor (NYSE:FND) last issued its earnings results on Thursday, October 30th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.06. Floor & Decor had a net margin of 4.65% and a return on equity of 9.34%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the company earned $0.48 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. Sell-side analysts expect that Floor & Decor Holdings, Inc. will post 2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, President Bradley Paulsen acquired 5,000 shares of Floor & Decor stock in a transaction on Monday, November 3rd. The stock was bought at an average price of $60.27 per share, for a total transaction of $301,350.00. Following the completion of the purchase, the president owned 30,000 shares in the company, valued at $1,808,100. This represents a 20.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FND has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Floor & Decor in a research report on Wednesday. Morgan Stanley dropped their price target on Floor & Decor from $90.00 to $88.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Evercore ISI dropped their price objective on shares of Floor & Decor from $75.00 to $65.00 and set an “in-line” rating for the company in a research note on Tuesday, November 11th. Wall Street Zen lowered Floor & Decor from a “hold” rating to a “sell” rating in a research note on Sunday, November 9th. Finally, UBS Group cut their price objective on Floor & Decor from $80.00 to $74.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Seven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Floor & Decor has a consensus rating of “Hold” and a consensus price target of $82.84.

Floor & Decor Profile

Founded in 2000 and headquartered in Atlanta, Floor & Decor Holdings Inc is a specialty retailer focused on hard surface flooring and related accessories in the United States. The company serves both professional installers and do-it-yourself customers through a growing network of warehouse-format stores and a comprehensive e-commerce platform.

Floor & Decor’s product offering spans ceramic and porcelain tile, engineered and solid hardwood, laminate, luxury vinyl plank and tile, natural stone and a full suite of installation materials such as grout, mortars and underlayment.