Hooker Furnishings Corp. (HOFT) to Issue Quarterly Dividend of $0.12 on September 30th

Hooker Furnishings Corp. (NASDAQ:HOFT) announced a quarterly dividend on Thursday, September 3rd. Shareholders of record on Tuesday, September 15th will be paid a dividend of 0.115 per share on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, September 15th.

Hooker Furnishings has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 9 years. Hooker Furnishings has a payout ratio of 34.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Hooker Furnishings to earn $1.34 per share next year, which means the company should continue to be able to cover its $0.46 annual dividend with an expected future payout ratio of 34.3%.

Hooker Furnishings Stock Up 2.1%

Shares of Hooker Furnishings stock opened at $12.83 on Friday. Hooker Furnishings has a twelve month low of $8.61 and a twelve month high of $18.09. The business has a 50-day moving average price of $14.15 and a 200-day moving average price of $13.80. The firm has a market cap of $137.79 million, a price-to-earnings ratio of -7.59, a PEG ratio of 1.19 and a beta of 1.14.

Hooker Furnishings (NASDAQ:HOFT) last released its quarterly earnings results on Thursday, June 11th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.17. The business had revenue of $69.45 million during the quarter, compared to analysts’ expectations of $66.31 million. Hooker Furnishings had a positive return on equity of 1.61% and a negative net margin of 7.90%. On average, equities analysts expect that Hooker Furnishings will post 0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Hooker Furnishings

Large investors have recently bought and sold shares of the business. Pzena Investment Management LLC bought a new position in Hooker Furnishings in the 2nd quarter valued at $27,505,000. Donald Smith & CO. Inc. boosted its position in Hooker Furnishings by 7.1% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,066,754 shares of the company’s stock valued at $12,044,000 after buying an additional 70,681 shares during the period. Vanguard Group Inc. grew its stake in Hooker Furnishings by 0.7% in the third quarter. Vanguard Group Inc. now owns 595,587 shares of the company’s stock worth $6,045,000 after purchasing an additional 4,138 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Hooker Furnishings by 35.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 366,761 shares of the company’s stock worth $4,141,000 after buying an additional 95,127 shares in the last quarter. Finally, Ameriprise Financial Inc. bought a new position in Hooker Furnishings during the 2nd quarter worth about $3,619,000. Hedge funds and other institutional investors own 73.60% of the company’s stock.

Hooker Furnishings Company Profile

Hooker Furnishings, formerly known as Hooker Furniture Corporation, is a designer, marketer and distributor of high-quality home furnishings. Headquartered in Martinsville, Virginia, the company offers a broad range of wood and upholstered furniture products across bedroom, dining, home office and accent categories. Its portfolio includes solid wood and engineered wood case goods, upholstered seating, accent tables and decorative accessories, reflecting styles that range from traditional to contemporary.

The company’s operations are organized into three reportable segments: Domestic Wholesale, Retail and Logistics, and International.