First Eagle Investment Management LLC Raises Stock Holdings in Hooker Furnishings Corp. $HOFT

First Eagle Investment Management LLC lifted its holdings in shares of Hooker Furnishings Corp. (NASDAQ:HOFT) by 35.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 317,414 shares of the company’s stock after acquiring an additional 83,761 shares during the period. First Eagle Investment Management LLC owned 2.97% of Hooker Furnishings worth $3,358,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of HOFT. Paradigm Capital Management Inc. NY acquired a new stake in Hooker Furnishings during the 1st quarter worth $803,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Hooker Furnishings by 250.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 110,471 shares of the company’s stock worth $1,109,000 after buying an additional 78,940 shares during the period. Peapod Lane Capital LLC boosted its stake in shares of Hooker Furnishings by 70.5% during the second quarter. Peapod Lane Capital LLC now owns 145,876 shares of the company’s stock worth $1,543,000 after buying an additional 60,304 shares during the period. Pzena Investment Management LLC grew its holdings in shares of Hooker Furnishings by 2.2% during the second quarter. Pzena Investment Management LLC now owns 1,358,726 shares of the company’s stock worth $14,375,000 after buying an additional 29,615 shares during the last quarter. Finally, Moors & Cabot Inc. increased its position in Hooker Furnishings by 51.9% in the 2nd quarter. Moors & Cabot Inc. now owns 74,450 shares of the company’s stock valued at $788,000 after acquiring an additional 25,450 shares during the period. Hedge funds and other institutional investors own 73.60% of the company’s stock.

Hooker Furnishings Trading Up 1.8%

Shares of HOFT stock opened at $9.46 on Friday. The business’s fifty day moving average price is $9.78 and its 200 day moving average price is $10.02. The firm has a market capitalization of $101.70 million, a PE ratio of -7.82 and a beta of 1.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.99 and a quick ratio of 1.37. Hooker Furnishings Corp. has a 1-year low of $7.34 and a 1-year high of $19.79.

Hooker Furnishings (NASDAQ:HOFT) last issued its 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 company had revenue of $82.15 million for the quarter, compared to analysts’ expectations of $91.21 million. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. As a group, sell-side analysts forecast that Hooker Furnishings Corp. will post -0.44 EPS for the current fiscal 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 given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 9.7%. The ex-dividend date was Friday, September 19th. Hooker Furnishings’s dividend payout ratio is presently -76.03%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Zacks Research raised Hooker Furnishings from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Weiss Ratings restated a “sell (d)” rating on shares of Hooker Furnishings in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce”.

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.