Los Angeles Capital Management LLC Lowers Stock Position in Hooker Furnishings Co. (NASDAQ:HOFT)

Los Angeles Capital Management LLC decreased its position in Hooker Furnishings Co. (NASDAQ:HOFT) by 16.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,870 shares of the company’s stock after selling 12,815 shares during the period. Los Angeles Capital Management LLC owned about 0.61% of Hooker Furnishings worth $1,191,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Copeland Capital Management LLC purchased a new position in shares of Hooker Furnishings in the 3rd quarter valued at about $37,000. Inspire Advisors LLC increased its position in shares of Hooker Furnishings by 56.6% in the third quarter. Inspire Advisors LLC now owns 20,534 shares of the company’s stock valued at $371,000 after buying an additional 7,422 shares in the last quarter. Marquette Asset Management LLC increased its position in shares of Hooker Furnishings by 131.1% in the third quarter. Marquette Asset Management LLC now owns 19,648 shares of the company’s stock valued at $355,000 after buying an additional 11,145 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Hooker Furnishings by 18.0% during the 2nd quarter. American Century Companies Inc. now owns 204,614 shares of the company’s stock valued at $2,963,000 after buying an additional 31,261 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in Hooker Furnishings by 15.7% in the 2nd quarter. Acadian Asset Management LLC now owns 5,179 shares of the company’s stock valued at $74,000 after acquiring an additional 703 shares during the period. Institutional investors and hedge funds own 73.63% of the company’s stock.

Hooker Furnishings Stock Performance

NASDAQ:HOFT opened at $18.40 on Friday. The stock has a market capitalization of $197.06 million, a PE ratio of 141.55 and a beta of 1.19. Hooker Furnishings Co. has a fifty-two week low of $13.09 and a fifty-two week high of $27.15. The company has a fifty day moving average of $16.99 and a two-hundred day moving average of $16.04.

Hooker Furnishings (NASDAQ:HOFT) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). Hooker Furnishings had a net margin of 0.40% and a return on equity of 0.72%. The company had revenue of $95.08 million during the quarter, compared to analysts’ expectations of $93.54 million. During the same period in the prior year, the business posted $0.07 earnings per share. Research analysts forecast that Hooker Furnishings Co. will post -0.37 earnings per share for the current year.

Hooker Furnishings Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend was Friday, September 13th. Hooker Furnishings’s payout ratio is 707.75%.

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.