Spire Wealth Management Trims Stock Position in Floor & Decor Holdings, Inc. (NYSE:FND)

Spire Wealth Management lessened its position in shares of Floor & Decor Holdings, Inc. (NYSE:FND) by 0.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 61,653 shares of the company’s stock after selling 105 shares during the quarter. Spire Wealth Management owned about 0.06% of Floor & Decor worth $6,118,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FND. Riverview Trust Co purchased a new stake in Floor & Decor in the first quarter valued at approximately $26,000. Rise Advisors LLC purchased a new stake in Floor & Decor in the first quarter valued at approximately $39,000. J.Safra Asset Management Corp raised its position in Floor & Decor by 630.5% in the second quarter. J.Safra Asset Management Corp now owns 431 shares of the company’s stock valued at $43,000 after purchasing an additional 372 shares during the period. Global Retirement Partners LLC raised its position in Floor & Decor by 97.1% in the first quarter. Global Retirement Partners LLC now owns 339 shares of the company’s stock valued at $44,000 after purchasing an additional 167 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in Floor & Decor in the fourth quarter valued at approximately $53,000.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Evercore ISI dropped their price target on shares of Floor & Decor from $120.00 to $100.00 and set an “in-line” rating for the company in a research note on Tuesday, July 2nd. Citigroup dropped their price target on shares of Floor & Decor from $109.00 to $104.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Wells Fargo & Company dropped their price target on shares of Floor & Decor from $125.00 to $95.00 and set an “equal weight” rating for the company in a research note on Friday, July 26th. Truist Financial dropped their price target on shares of Floor & Decor from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Finally, Piper Sandler dropped their price target on shares of Floor & Decor from $115.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $103.84.

Insider Activity

In other news, CEO Thomas V. Taylor sold 34,199 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $125.00, for a total value of $4,274,875.00. Following the completion of the sale, the chief executive officer now directly owns 168,386 shares of the company’s stock, valued at $21,048,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.10% of the company’s stock.

Floor & Decor Stock Performance

NYSE FND traded up $1.78 during trading hours on Friday, hitting $112.44. The company had a trading volume of 752,930 shares, compared to its average volume of 1,448,143. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.27 and a current ratio of 1.17. Floor & Decor Holdings, Inc. has a 1-year low of $76.30 and a 1-year high of $135.67. The company has a market cap of $12.05 billion, a PE ratio of 54.32, a price-to-earnings-growth ratio of 2.31 and a beta of 1.74. The business has a 50 day moving average of $99.75 and a 200-day moving average of $111.45.

Floor & Decor (NYSE:FND) last announced its earnings results on Thursday, August 1st. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Floor & Decor had a net margin of 4.78% and a return on equity of 10.69%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the company earned $0.66 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. As a group, equities research analysts expect that Floor & Decor Holdings, Inc. will post 1.67 EPS for the current year.

Floor & Decor Company Profile

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.