Pzena Investment Management LLC Purchases 29,615 Shares of Hooker Furnishings Corp. $HOFT

Pzena Investment Management LLC grew its stake in shares of Hooker Furnishings Corp. (NASDAQ:HOFT) by 2.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,358,726 shares of the company’s stock after purchasing an additional 29,615 shares during the quarter. Pzena Investment Management LLC owned 0.13% of Hooker Furnishings worth $14,375,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in HOFT. Foundry Partners LLC increased its position in Hooker Furnishings by 11.9% in the first quarter. Foundry Partners LLC now owns 112,380 shares of the company’s stock worth $1,128,000 after purchasing an additional 11,925 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Hooker Furnishings by 250.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 110,471 shares of the company’s stock worth $1,109,000 after acquiring an additional 78,940 shares in the last quarter. Paradigm Capital Management Inc. NY bought a new position in shares of Hooker Furnishings during the 1st quarter worth $803,000. Waterfront Wealth Inc. grew its holdings in Hooker Furnishings by 151.6% during the 1st quarter. Waterfront Wealth Inc. now owns 77,462 shares of the company’s stock worth $778,000 after acquiring an additional 46,678 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Hooker Furnishings by 7.2% during the first quarter. Empowered Funds LLC now owns 55,319 shares of the company’s stock valued at $555,000 after purchasing an additional 3,696 shares in the last quarter. 73.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Zacks Research downgraded Hooker Furnishings from a “hold” rating to a “strong sell” rating in a research report on Friday, September 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hooker Furnishings in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, Hooker Furnishings has an average rating of “Sell”.

Hooker Furnishings Stock Down 2.8%

Hooker Furnishings stock opened at $8.70 on Tuesday. Hooker Furnishings Corp. has a fifty-two week low of $7.34 and a fifty-two week high of $19.79. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 2.99. The firm has a 50 day moving average price of $10.11 and a 200 day moving average price of $10.00. The company has a market capitalization of $93.53 million, a PE ratio of -7.19 and a beta of 1.37.

Hooker Furnishings (NASDAQ:HOFT) last posted its quarterly earnings results on Thursday, September 11th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.19). Hooker Furnishings had a negative return on equity of 4.17% and a negative net margin of 3.40%.The business had revenue of $82.15 million during the quarter, compared to analyst estimates of $91.21 million. During the same quarter last year, the firm earned ($0.19) EPS. Research analysts expect that Hooker Furnishings Corp. will post -0.44 earnings per share for the current year.

Hooker Furnishings Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 10.6%. The ex-dividend date was Friday, September 19th. Hooker Furnishings’s dividend payout ratio (DPR) is -76.03%.

Hooker Furnishings 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.