Hooker Furnishings (NASDAQ:HOFT) Upgraded at StockNews.com

StockNews.com upgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a sell rating to a hold rating in a research note issued to investors on Monday morning.

Hooker Furnishings Stock Up 1.9 %

Hooker Furnishings stock opened at $14.01 on Monday. The company has a quick ratio of 1.46, a current ratio of 3.16 and a debt-to-equity ratio of 0.10. The firm has a market cap of $150.05 million, a P/E ratio of -15.40 and a beta of 1.22. The business has a fifty day moving average of $16.82 and a two-hundred day moving average of $15.94. Hooker Furnishings has a twelve month low of $13.00 and a twelve month high of $26.33.

Hooker Furnishings Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 6.57%. The ex-dividend date of this dividend was Friday, December 13th. Hooker Furnishings’s dividend payout ratio is currently -101.10%.

Insider Transactions at Hooker Furnishings

In other news, Director Paulette Garafalo sold 2,489 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $17.10, for a total value of $42,561.90. Following the transaction, the director now directly owns 20,783 shares of the company’s stock, valued at approximately $355,389.30. This represents a 10.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Hooker Furnishings

Institutional investors have recently modified their holdings of the stock. Copeland Capital Management LLC acquired a new stake in shares of Hooker Furnishings during the 3rd quarter worth approximately $37,000. Acadian Asset Management LLC grew its position in Hooker Furnishings by 15.7% during the second quarter. Acadian Asset Management LLC now owns 5,179 shares of the company’s stock valued at $74,000 after buying an additional 703 shares during the period. Inspire Advisors LLC purchased a new position in Hooker Furnishings in the second quarter valued at $190,000. Baron Wealth Management LLC acquired a new position in shares of Hooker Furnishings in the third quarter worth about $215,000. Finally, Barclays PLC boosted its stake in shares of Hooker Furnishings by 270.4% during the 3rd quarter. Barclays PLC now owns 15,463 shares of the company’s stock worth $279,000 after acquiring an additional 11,288 shares in the last quarter. Hedge funds and other institutional investors own 73.63% of the company’s stock.

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.