Bank of New York Mellon Corp Sells 16,061 Shares of Hooker Furniture Corporation (HOFT)

Bank of New York Mellon Corp reduced its stake in Hooker Furniture Corporation (NASDAQ:HOFT) by 15.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 85,508 shares of the company’s stock after selling 16,061 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.74% of Hooker Furniture Corporation worth $3,519,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Bank of Montreal Can raised its holdings in Hooker Furniture Corporation by 455.0% during the second quarter. Bank of Montreal Can now owns 4,645 shares of the company’s stock valued at $191,000 after acquiring an additional 3,808 shares during the period. American International Group Inc. grew its position in Hooker Furniture Corporation by 7.1% in the first quarter. American International Group Inc. now owns 6,988 shares of the company’s stock worth $217,000 after acquiring an additional 464 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in Hooker Furniture Corporation by 24.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 7,862 shares of the company’s stock worth $244,000 after acquiring an additional 1,533 shares in the last quarter. Aperio Group LLC purchased a new position in Hooker Furniture Corporation in the second quarter worth about $260,000. Finally, Bogle Investment Management L P DE grew its position in Hooker Furniture Corporation by 38.6% in the first quarter. Bogle Investment Management L P DE now owns 9,424 shares of the company’s stock worth $292,000 after acquiring an additional 2,624 shares in the last quarter. 84.06% of the stock is currently owned by institutional investors.

In related news, insider Michael W. Delgatti sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $43.58, for a total transaction of $217,900.00. Following the completion of the transaction, the insider now owns 33,525 shares of the company’s stock, valued at approximately $1,461,019.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael W. Delgatti sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $43.03, for a total transaction of $430,300.00. Following the transaction, the insider now directly owns 28,425 shares of the company’s stock, valued at approximately $1,223,127.75. The disclosure for this sale can be found here. Insiders have sold a total of 56,607 shares of company stock valued at $2,506,409 in the last ninety days. 2.90% of the stock is currently owned by corporate insiders.

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Hooker Furniture Corporation (NASDAQ:HOFT) opened at 48.50 on Monday. Hooker Furniture Corporation has a 12 month low of $24.93 and a 12 month high of $50.53. The firm’s 50 day moving average price is $43.97 and its 200 day moving average price is $41.61. The stock has a market cap of $561.19 million, a price-to-earnings ratio of 18.81 and a beta of 0.62.

Hooker Furniture Corporation (NASDAQ:HOFT) last posted its quarterly earnings results on Thursday, September 7th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. The business had revenue of $156.31 million during the quarter, compared to analysts’ expectations of $148.56 million. Hooker Furniture Corporation had a net margin of 4.94% and a return on equity of 15.28%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 EPS. On average, equities research analysts predict that Hooker Furniture Corporation will post $2.78 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a dividend of $0.12 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. Hooker Furniture Corporation’s payout ratio is currently 18.53%.

Separately, BidaskClub lowered Hooker Furniture Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 18th.

Hooker Furniture Corporation Profile

Hooker Furniture Corporation is a home furnishings marketing, design and logistics company offering sourcing of residential casegoods and upholstery, as well as domestically-produced leather and fabric-upholstered furniture. The Company operates through three segments: casegoods furniture, upholstered furniture and all other.

Institutional Ownership by Quarter for Hooker Furniture Corporation (NASDAQ:HOFT)

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