Pzena Investment Management LLC Grows Stake in Hooker Furnishings Corp. $HOFT

Pzena Investment Management LLC grew its stake in shares of Hooker Furnishings Corp. (NASDAQ:HOFT) by 4.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,416,002 shares of the company’s stock after acquiring an additional 57,276 shares during the quarter. Pzena Investment Management LLC owned about 0.13% of Hooker Furnishings worth $14,372,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Hooker Furnishings by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 595,587 shares of the company’s stock valued at $6,045,000 after purchasing an additional 4,138 shares during the last quarter. Azarias Capital Management L.P. raised its holdings in Hooker Furnishings by 33.6% in the 3rd quarter. Azarias Capital Management L.P. now owns 473,179 shares of the company’s stock worth $4,803,000 after acquiring an additional 118,989 shares during the last quarter. Ameriprise Financial Inc. bought a new position in Hooker Furnishings in the 2nd quarter valued at approximately $3,619,000. First Eagle Investment Management LLC boosted its stake in Hooker Furnishings by 35.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 317,414 shares of the company’s stock valued at $3,358,000 after purchasing an additional 83,761 shares during the last quarter. Finally, RBF Capital LLC bought a new stake in shares of Hooker Furnishings in the 2nd quarter worth $2,807,000. Institutional investors own 73.60% of the company’s stock.

Hooker Furnishings Trading Up 2.8%

Shares of NASDAQ:HOFT opened at $14.63 on Friday. The stock’s 50-day simple moving average is $12.64 and its two-hundred day simple moving average is $10.93. The stock has a market capitalization of $157.71 million, a price-to-earnings ratio of -5.21, a PEG ratio of 1.15 and a beta of 1.39. Hooker Furnishings Corp. has a 52-week low of $7.34 and a 52-week high of $15.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.35 and a current ratio of 2.67.

Hooker Furnishings (NASDAQ:HOFT) last issued its quarterly earnings data on Thursday, December 11th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.54. The firm had revenue of $70.73 million for the quarter, compared to analysts’ expectations of $85.50 million. Hooker Furnishings had a negative net margin of 8.71% and a negative return on equity of 1.07%. Analysts expect that Hooker Furnishings Corp. will post -0.44 EPS for the current year.

Hooker Furnishings Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Sunday, December 21st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, December 19th. Hooker Furnishings’s dividend payout ratio (DPR) is currently -16.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HOFT shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Hooker Furnishings in a report on Thursday, January 22nd. Zacks Research lowered shares of Hooker Furnishings from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Finally, Wall Street Zen raised shares of Hooker Furnishings from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Hooker Furnishings Profile

Hooker Furnishings, formerly known as Hooker Furniture Corporation, is a designer, marketer and distributor of high-quality home furnishings. Headquartered in Martinsville, Virginia, the company offers a broad range of wood and upholstered furniture products across bedroom, dining, home office and accent categories. Its portfolio includes solid wood and engineered wood case goods, upholstered seating, accent tables and decorative accessories, reflecting styles that range from traditional to contemporary.

The company’s operations are organized into three reportable segments: Domestic Wholesale, Retail and Logistics, and International.