Hooker Furnishings (NASDAQ:HOFT) Upgraded by StockNews.com to “Hold” Rating

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

Hooker Furnishings Stock Up 2.9 %

Hooker Furnishings stock opened at $8.49 on Friday. Hooker Furnishings has a fifty-two week low of $7.77 and a fifty-two week high of $20.90. The firm has a market capitalization of $90.93 million, a PE ratio of -9.33, a P/E/G ratio of 0.85 and a beta of 1.23. The company’s 50-day moving average is $11.60 and its 200-day moving average is $14.40. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.16 and a quick ratio of 1.76.

Hooker Furnishings Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 10.84%. Hooker Furnishings’s payout ratio is -101.10%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. HighTower Advisors LLC boosted its position in Hooker Furnishings by 26.4% during the third quarter. HighTower Advisors LLC now owns 19,004 shares of the company’s stock worth $344,000 after purchasing an additional 3,966 shares during the period. Stifel Financial Corp lifted its stake in shares of Hooker Furnishings by 9.5% during the 3rd quarter. Stifel Financial Corp now owns 44,003 shares of the company’s stock worth $796,000 after buying an additional 3,827 shares during the last quarter. State Street Corp boosted its holdings in shares of Hooker Furnishings by 4.9% during the 3rd quarter. State Street Corp now owns 172,370 shares of the company’s stock worth $3,116,000 after buying an additional 8,117 shares during the period. Barclays PLC grew its stake in Hooker Furnishings by 270.4% in the 3rd quarter. Barclays PLC now owns 15,463 shares of the company’s stock valued at $279,000 after buying an additional 11,288 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Hooker Furnishings by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 241,310 shares of the company’s stock valued at $4,364,000 after acquiring an additional 2,493 shares during the period. 73.63% of the stock is owned by institutional investors and hedge funds.

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.