Should You Hold Floor & Decor Holdings (FND)?
TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy underperformed the Russell Midcap Growth Index and returned 13.66% (gross) and 13.44% (net) while the index return was - 14.55%. In addition, please check the fund’s top five holdings to know its best picks in 2023.
TimesSquare Capital U.S. Mid Cap Growth Strategy featured stocks like Floor & Decor Holdings, Inc. (NYSE:FND) in the Q4 2023 investor letter. Headquartered in Atlanta, Georgia, Floor & Decor Holdings, Inc. (NYSE:FND) is a retailer of hard surface flooring that provides tile, wood, laminate, vinyl, and natural stone flooring products and decorative accessories. On March 27, 2024, Floor & Decor Holdings, Inc. (NYSE:FND) stock closed at $129.65 per share. One-month return of Floor & Decor Holdings, Inc. (NYSE:FND) was 5.18%, and its shares gained 37.27% of their value over the last 52 weeks. Floor & Decor Holdings, Inc. (NYSE:FND) has a market capitalization of $13.874 billion.
TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding Floor & Decor Holdings, Inc. (NYSE:FND) in its fourth quarter 2023 investor letter:
"In Consumer-oriented sectors, we lean towards value-oriented or specialty retailers, franchise models, as well as premium brands. Floor & Decor Holdings, Inc. (NYSE:FND), a hard surface flooring and accessories company, rose by 23%. Third quarter results were mixed with sales slightly below the consensus and earnings above. Management cut their full-year sales and earnings outlook as sustained pressure in the housing market continues to weigh on overall demand."
An overhead view of a website displaying the multiple options of flooring products available for purchase.
Floor & Decor Holdings, Inc. (NYSE:FND) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Floor & Decor Holdings, Inc. (NYSE:FND) was held by 35 hedge fund portfolios, down from 37 in the previous quarter, according to our database.
We discussed Floor & Decor Holdings, Inc. (NYSE:FND) in another article and shared SouthernSun SMID Cap Strategy's views on the company. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
