Hooker Furnishings (NASDAQ:HOFT) Raised to Hold at StockNews.com

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

Hooker Furnishings Stock Performance

Hooker Furnishings stock opened at $11.60 on Tuesday. Hooker Furnishings has a fifty-two week low of $11.17 and a fifty-two week high of $24.18. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.76 and a current ratio of 3.16. The stock has a market cap of $124.24 million, a P/E ratio of -12.75, a price-to-earnings-growth ratio of 0.85 and a beta of 1.16. The firm’s fifty day moving average price is $12.91 and its 200-day moving average price is $15.32.

Hooker Furnishings Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 7.93%. The ex-dividend date is Monday, March 17th. Hooker Furnishings’s dividend payout ratio (DPR) is currently -101.10%.

Hedge Funds Weigh In On Hooker Furnishings

Institutional investors have recently modified their holdings of the company. Peapod Lane Capital LLC purchased a new stake in Hooker Furnishings in the fourth quarter worth approximately $1,893,000. Azarias Capital Management L.P. lifted its holdings in shares of Hooker Furnishings by 10.3% in the 4th quarter. Azarias Capital Management L.P. now owns 754,328 shares of the company’s stock worth $10,568,000 after acquiring an additional 70,281 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in shares of Hooker Furnishings by 95.5% in the 4th quarter. First Eagle Investment Management LLC now owns 113,909 shares of the company’s stock valued at $1,596,000 after purchasing an additional 55,629 shares in the last quarter. Pzena Investment Management LLC boosted its stake in shares of Hooker Furnishings by 3.8% in the 4th quarter. Pzena Investment Management LLC now owns 1,335,593 shares of the company’s stock valued at $18,712,000 after purchasing an additional 49,212 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Hooker Furnishings by 107.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,688 shares of the company’s stock valued at $790,000 after purchasing an additional 22,635 shares during the last quarter. 73.63% of the stock is currently owned by institutional investors.

About Hooker Furnishings

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.