July 5, 2023 – Riverbridge Partners LLC, a prominent investment firm, has significantly increased its holdings in Floor & Decor Holdings, Inc. (NYSE: FND) during the first quarter of this year. According to their recent Form 13F filing with the Securities and Exchange Commission (SEC), Riverbridge Partners LLC now owns 1,217,611 shares of Floor & Decor stock, representing a 21.2% rise from the previous quarter.
This surge in ownership demonstrates Riverbridge’s confidence in the future prospects of Floor & Decor Holdings. It also signifies their continued interest in expanding their investment portfolio within the retail sector. With an additional purchase of 213,073 shares during this period, Riverbridge Partners LLC now accounts for approximately 1.7% of the company’s total holdings. This positions them as the 20th largest stakeholder in Floor & Decor.
As of the latest SEC filing by Riverbridge Partners LLC for Floor & Decor Holdings on this date, their investment is valued at an impressive $119,594,000. Such substantial investments highlight not just their confidence in Floor & Decor’s potential but also their ability to identify lucrative opportunities within the market.
Floor & Decor Holdings Inc., headquartered in Georgia along with its subsidiaries, operates as a multi-channel specialty retailer and commercial flooring distributor. Their extensive product range includes various flooring options such as tile, wood, laminate, vinyl, and natural stone surfaces. Additionally, they offer decorative accessories, wall tiles, and installation materials with associated tools.
Numerous equity research analysts have provided insights into Floor & Decor through various reports and ratings. Guggenheim reaffirmed its “buy” rating on March 15th with a target price set at $100 per share. Wells Fargo & Company followed suit on April 28th by raising its price target from $105 to $110 for Floor & Decor shares.
In June of that same year, Truist Financial provided coverage on Floor & Decor, assigning a “buy” rating along with a promising target price of $120. Finally, TheStreet upgraded the stock from a “c+” rating to a “b-” rating on March 27th. Bloomberg reports suggest that the average consensus amongst analysts is currently rated as “Hold,” with an average price target of $97.53.
The various research reports and ratings reflect the diverse opinions within the analyst community regarding Floor & Decor Holdings. While one analyst has expressed a bearish sentiment toward the stock, seven have issued hold ratings and another seven have offered buy ratings.
Investors and market participants will likely be monitoring these varying assessments closely in order to gain valuable insights into Floor & Decor’s trajectory moving forward. Furthermore, individuals interested in the retail sector can observe this surge in investment by Riverbridge Partners LLC as an indicator of potential growth within Floor & Decor Holdings Inc.
As we navigate through the year 2023, it will be intriguing to witness how Floor & Decor’s performance aligns with these divergent sentiments and whether Riverbridge Partners LLC’s confidence in their investment manifests into positive returns for both parties involved.
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Increased Stakeholders and Fluctuating Stock: A Look at Floor & Decor Holdings, Inc.’s Recent Developments
Floor & Decor Holdings, Inc., a multi-channel specialty retailer and commercial flooring distributor based in Georgia, has seen some significant changes in its shareholders’ holdings recently. Several hedge funds have modified their positions in the company, indicating a shifting landscape within the investment community.
One notable investor is Price T Rowe Associates Inc. MD, which increased its stake in Floor & Decor by an impressive 49.6% during the third quarter. This move resulted in the acquisition of an additional 3,408,017 shares, bringing Price T Rowe Associates Inc.’s total holdings to 10,278,459 shares worth $722,165,000.
Another firm that raised its stake in Floor & Decor is Timucuan Asset Management Inc. FL. Their involvement soared by 31.2% during the same period with an additional 439,430 shares purchased. As a result, Timucuan Asset Management now owns 1,848,835 shares valued at $129,899,000.
Additionally, Disciplined Growth Investors Inc. MN entered the scene during the third quarter by acquiring a new position in Floor & Decor. The firm invested $28,268,000 to obtain a stake of undisclosed size.
WCM Investment Management LLC also demonstrated confidence in Floor & Decor’s potential as it raised its stake by 6.5% during the fourth quarter. With an additional purchase of 281,141 shares worth $320,201,000,WCM Investment Management now holds 4,5987 million shares overall.
Finally Principal Financial Group Inc., astonishingly increased its stake by 1 ,8822% during the fourth quarter through further acquisition of295370shares now amounting to279469 total reaching a value of$19-,459-,-000
These recent shifts among major shareholders demonstrate a high degree of interest and confidence in Floor & Decor as an investment opportunity. Market analysts eagerly await further developments and speculate on the potential impact on the company’s stock price.
In related news, EVP David Victor Christopherson recently sold 5,804 shares of Floor & Decor’s stock at an average price of $100.00 per share. This transaction resulted in a total value of $580,400.00. Following the sale, Christopherson now owns 42,356 shares valued at $4,235,600. This information was disclosed in a filing with the Securities and Exchange Commission (SEC) and can be accessed through their website. Corporate insiders now own 2.50% of the company’s stock.
Floor & Decor Holdings, Inc., as mentioned earlier, operates as both a specialty retailer and commercial flooring distributor. The company offers a wide range of flooring products including tile, wood, laminate, vinyl, and natural stone. It also provides decorative accessories, wall tiles, installation materials, and tools.
Floor & Decor’s stock has experienced some fluctuations in recent trading sessions. On July 5th it traded down to $103.57 per share from its previous value of $1041-,98 However during this time around 13Z,Z44 shares were exchanged compared to an average volume of I,-3SZ,-943 shares traded daily.
Looking at its performance over the past year Floor & Decor has had lows as low as $63-.51 while reaching highs up to S1-041-,9-8-. Currently the company boasts amarket capitalization amounting to S11-,01 billion w ith a price-to earning ratio f3AR of37-,55
