Peapod Lane Capital LLC Makes New Investment in Hooker Furnishings Co. (NASDAQ:HOFT)

Peapod Lane Capital LLC bought a new stake in Hooker Furnishings Co. (NASDAQ:HOFT - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 135,099 shares of the company's stock, valued at approximately $1,893,000. Hooker Furnishings comprises approximately 1.9% of Peapod Lane Capital LLC's investment portfolio, making the stock its 21st biggest position. Peapod Lane Capital LLC owned 1.26% of Hooker Furnishings as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HOFT. Pzena Investment Management LLC lifted its position in shares of Hooker Furnishings by 1.1% in the 3rd quarter. Pzena Investment Management LLC now owns 1,286,381 shares of the company's stock worth $23,258,000 after purchasing an additional 13,524 shares during the period. Geode Capital Management LLC increased its stake in Hooker Furnishings by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 241,310 shares of the company's stock valued at $4,364,000 after purchasing an additional 2,493 shares in the last quarter. State Street Corp raised its holdings in shares of Hooker Furnishings by 4.9% in the 3rd quarter. State Street Corp now owns 172,370 shares of the company's stock worth $3,116,000 after acquiring an additional 8,117 shares during the last quarter. Foundry Partners LLC lifted its holdings in shares of Hooker Furnishings by 22.0% in the third quarter. Foundry Partners LLC now owns 86,155 shares of the company's stock valued at $1,558,000 after purchasing an additional 15,550 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in Hooker Furnishings by 5.0% during the 4th quarter. Empowered Funds LLC now owns 51,623 shares of the company's stock valued at $723,000 after acquiring an additional 2,435 shares in the last quarter. 73.63% of the stock is owned by institutional investors and hedge funds.

Hooker Furnishings Stock Performance

Shares of NASDAQ:HOFT traded down $0.10 during mid-day trading on Monday, reaching $13.12. The company had a trading volume of 20,851 shares, compared to its average volume of 47,721. The company has a current ratio of 3.16, a quick ratio of 1.76 and a debt-to-equity ratio of 0.10. The company's 50-day moving average price is $13.92 and its 200-day moving average price is $15.68. Hooker Furnishings Co. has a one year low of $12.06 and a one year high of $25.80. The firm has a market cap of $140.52 million, a price-to-earnings ratio of -14.42, a PEG ratio of 0.85 and a beta of 1.25.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last posted its earnings results on Thursday, December 5th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.22). Hooker Furnishings had a negative return on equity of 3.51% and a negative net margin of 2.46%. As a group, equities research analysts anticipate that Hooker Furnishings Co. will post -0.44 EPS for the current fiscal year.

Hooker Furnishings Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 7.01%. The ex-dividend date of this dividend was Friday, December 13th. Hooker Furnishings's payout ratio is -101.10%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Hooker Furnishings from a "hold" rating to a "sell" rating in a research note on Wednesday, February 12th.

Insiders Place Their Bets

In other Hooker Furnishings news, Director Paulette Garafalo sold 2,489 shares of Hooker Furnishings stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $17.10, for a total transaction of $42,561.90. Following the completion of the sale, the director now directly owns 20,783 shares in the company, valued at $355,389.30. The trade was a 10.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.70% of the company's stock.

Hooker Furnishings 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.