Hooker Furnishings (NASDAQ:HOFT) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a sell rating to a hold rating in a research note issued to investors on Thursday.

Hooker Furnishings Price Performance

NASDAQ HOFT opened at $12.95 on Thursday. The company has a market capitalization of $138.69 million, a PE ratio of -14.23, a price-to-earnings-growth ratio of 0.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.76 and a current ratio of 3.16. The business’s fifty day moving average is $13.51 and its 200 day moving average is $15.62. Hooker Furnishings has a fifty-two week low of $12.06 and a fifty-two week high of $24.82.

Hooker Furnishings (NASDAQ:HOFT) last released its earnings results on Thursday, December 5th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate 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%. Sell-side analysts predict that Hooker Furnishings will post -0.44 earnings per share for the current year.

Hooker Furnishings Dividend Announcement

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

Insider Activity

In related news, Director Paulette Garafalo sold 2,489 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $17.10, for a total value of $42,561.90. Following the sale, the director now directly owns 20,783 shares in the company, valued at approximately $355,389.30. The trade was a 10.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Hooker Furnishings

A number of hedge funds have recently made changes to their positions in the company. Northern Trust Corp lifted its position in shares of Hooker Furnishings by 0.5% in the fourth quarter. Northern Trust Corp now owns 170,582 shares of the company’s stock worth $2,390,000 after buying an additional 889 shares in the last quarter. Wells Fargo & Company MN increased its stake in Hooker Furnishings by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 6,227 shares of the company’s stock worth $87,000 after acquiring an additional 1,356 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in Hooker Furnishings by 1.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 129,987 shares of the company’s stock worth $1,821,000 after acquiring an additional 1,535 shares during the last quarter. Bank of America Corp DE increased its stake in Hooker Furnishings by 13.3% during the fourth quarter. Bank of America Corp DE now owns 16,008 shares of the company’s stock worth $224,000 after acquiring an additional 1,875 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Hooker Furnishings by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,531 shares of the company’s stock worth $442,000 after acquiring an additional 1,900 shares during the last quarter. 73.63% of the stock is currently owned by hedge funds and other institutional investors.

About Hooker Furnishings

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.