Hooker Furnishings (NASDAQ:HOFT) Lowered to Sell Rating by StockNews.com

StockNews.com downgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a hold rating to a sell rating in a research note published on Friday morning.

Hooker Furnishings Stock Up 1.6 %

Shares of NASDAQ HOFT opened at $9.16 on Friday. The company has a current ratio of 3.16, a quick ratio of 1.76 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $98.10 million, a PE ratio of -10.07, a price-to-earnings-growth ratio of 0.85 and a beta of 1.16. The firm’s 50-day moving average is $12.22 and its 200-day moving average is $14.85. Hooker Furnishings has a 1 year low of $8.03 and a 1 year high of $23.73.

Hooker Furnishings Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.23 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.92 annualized dividend and a dividend yield of 10.04%. Hooker Furnishings’s dividend payout ratio is currently -101.10%.

Hedge Funds Weigh In On Hooker Furnishings

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOFT. Deutsche Bank AG raised its holdings in Hooker Furnishings by 97.5% in the fourth quarter. Deutsche Bank AG now owns 14,494 shares of the company’s stock worth $203,000 after purchasing an additional 7,157 shares during the period. Bridgeway Capital Management LLC raised its stake in Hooker Furnishings by 1.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 129,987 shares of the company’s stock worth $1,821,000 after buying an additional 1,535 shares during the period. Bank of America Corp DE lifted its holdings 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 in the last quarter. 4WEALTH Advisors Inc. acquired a new position in Hooker Furnishings in the fourth quarter valued at about $222,000. Finally, Northern Trust Corp increased its holdings 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 acquiring an additional 889 shares in the last quarter. 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.