Hooker Furnishings (NASDAQ:HOFT) Stock Rating Upgraded by StockNews.com

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

Hooker Furnishings Stock Down 2.9 %

Shares of HOFT opened at $12.89 on Wednesday. The business’s 50 day simple moving average is $16.48 and its 200-day simple moving average is $15.92. Hooker Furnishings has a 1 year low of $12.78 and a 1 year high of $25.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.16 and a quick ratio of 1.46. The stock has a market capitalization of $138.05 million, a price-to-earnings ratio of -14.16 and a beta of 1.26.

Hooker Furnishings Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a $0.23 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 7.14%. Hooker Furnishings’s payout ratio is currently -101.10%.

Insider Transactions at Hooker Furnishings

In related news, Director Paulette Garafalo sold 2,489 shares of Hooker Furnishings 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 completion of the transaction, the director now owns 20,783 shares in the company, valued at approximately $355,389.30. This trade represents a 10.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Hooker Furnishings

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC boosted its holdings in shares of Hooker Furnishings by 1.1% in the 3rd quarter. Pzena Investment Management LLC now owns 1,286,381 shares of the company’s stock worth $23,258,000 after purchasing an additional 13,524 shares during the period. Geode Capital Management LLC boosted its stake in Hooker Furnishings by 1.0% during the third quarter. Geode Capital Management LLC now owns 241,310 shares of the company’s stock worth $4,364,000 after buying an additional 2,493 shares during the period. American Century Companies Inc. boosted its stake in Hooker Furnishings by 18.0% during the second quarter. American Century Companies Inc. now owns 204,614 shares of the company’s stock worth $2,963,000 after buying an additional 31,261 shares during the period. State Street Corp increased its position in Hooker Furnishings by 4.9% during the third quarter. State Street Corp now owns 172,370 shares of the company’s stock valued at $3,116,000 after acquiring an additional 8,117 shares during the last quarter. Finally, Foundry Partners LLC lifted its holdings in shares of Hooker Furnishings by 22.0% in the 3rd quarter. Foundry Partners LLC now owns 86,155 shares of the company’s stock worth $1,558,000 after acquiring an additional 15,550 shares during the last quarter. 73.63% of the stock is currently owned by hedge funds and other institutional investors.

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.