Hooker Furnishings (NASDAQ:HOFT) Upgraded at StockNews.com

StockNews.com upgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a sell rating to a hold rating in a report released on Thursday.

Hooker Furnishings Stock Down 0.8 %

Shares of NASDAQ:HOFT opened at $12.95 on Thursday. The stock has a fifty day simple moving average of $13.51 and a two-hundred day simple moving average of $15.62. The stock has a market capitalization of $138.69 million, a price-to-earnings ratio of -14.23, a PEG ratio of 0.85 and a beta of 1.25. Hooker Furnishings has a 12-month low of $12.06 and a 12-month high of $24.82. The company has a current ratio of 3.16, a quick ratio of 1.76 and a debt-to-equity ratio of 0.10.

Hooker Furnishings (NASDAQ:HOFT) last announced its quarterly earnings data on Thursday, December 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.22). Hooker Furnishings had a negative net margin of 2.46% and a negative return on equity of 3.51%. On average, research analysts anticipate that Hooker Furnishings will post -0.44 earnings per share for the current fiscal year.

Hooker Furnishings Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 7.10%. The ex-dividend date of this dividend was Friday, December 13th. Hooker Furnishings’s payout ratio is -101.10%.

Insiders Place Their Bets

In other Hooker Furnishings news, Director Paulette Garafalo sold 2,489 shares of Hooker Furnishings stock in a transaction on Monday, December 16th. The stock was sold at an average price of $17.10, for a total value of $42,561.90. Following the completion of the sale, the director now owns 20,783 shares of the company’s stock, valued at approximately $355,389.30. This trade represents a 10.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Hooker Furnishings

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its holdings in shares of Hooker Furnishings by 107.5% in the third quarter. JPMorgan Chase & Co. now owns 43,688 shares of the company’s stock worth $790,000 after acquiring an additional 22,635 shares during the period. Barclays PLC grew its holdings in shares of Hooker Furnishings by 270.4% in the third quarter. Barclays PLC now owns 15,463 shares of the company’s stock worth $279,000 after acquiring an additional 11,288 shares during the period. Stifel Financial Corp grew its holdings in shares of Hooker Furnishings by 9.5% in the third quarter. Stifel Financial Corp now owns 44,003 shares of the company’s stock worth $796,000 after acquiring an additional 3,827 shares during the period. HighTower Advisors LLC grew its holdings in shares of Hooker Furnishings by 26.4% in the third quarter. HighTower Advisors LLC now owns 19,004 shares of the company’s stock worth $344,000 after acquiring an additional 3,966 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Hooker Furnishings by 1.0% in the third quarter. Geode Capital Management LLC now owns 241,310 shares of the company’s stock worth $4,364,000 after acquiring an additional 2,493 shares during the period. Institutional investors own 73.63% of the company’s stock.

Hooker Furnishings Company Profile

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.