Should You Consider Adding Floor & Decor Holdings (FND) to Your Portfolio?

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 returned 4.18% (net), compared to 6.90% for the Russell Midcap Growth Index. For the calendar year, the strategy returned -22.13% (net) compared to the benchmark’s return of -26.72%. Weakness in Consumer Staples, Energy, Health Care, Information Technology, and Real Estate holdings led to the underperformance of the portfolio in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare U.S. Mid Cap Growth Strategy highlighted stocks like Floor & Decor Holdings, Inc. (NYSE:FND) in the Q4 2022 investor letter. Headquartered in Atlanta, Georgia, Floor & Decor Holdings, Inc. (NYSE:FND) is a retailer and commercial flooring distributor that provides tile, wood, laminate, vinyl, and natural stone flooring products and decorative accessories. On March 31, 2023, Floor & Decor Holdings, Inc. (NYSE:FND) stock closed at $98.22 per share. One-month return of Floor & Decor Holdings, Inc. (NYSE:FND) was 9.52%, and its shares gained 16.85% of their value over the last 52 weeks. Floor & Decor Holdings, Inc. (NYSE:FND) has a market capitalization of $10.457 billion.

TimesSquare U.S. Mid Cap Growth Strategy made the following comment about Floor & Decor Holdings, Inc. (NYSE:FND) in its Q4 2022 investor letter:

“Floor & Decor Holdings, Inc. (NYSE:FND) reported better-than-expected third quarter sales and earnings. Management reduced their full-year sales outlook and trimmed the top end of earnings guidance to account for anticipated macro-related demand challenges. Its shares pulled back -1%.”

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Floor & Decor Holdings, Inc. (NYSE:FND) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held Floor & Decor Holdings, Inc. (NYSE:FND) at the end of the fourth quarter which was 32 in the previous quarter.

We discussed Floor & Decor Holdings, Inc. (NYSE:FND) in another article and shared the list of best performing Warren Buffett stocks in 2023. In addition, please check out our hedge fund investor letters Q4 2022 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.