Franklin Resources Inc. Sells 82,756 Shares of Hooker Furnishings Co. (NASDAQ:HOFT)

Franklin Resources Inc. cut its stake in shares of Hooker Furnishings Co. (NASDAQ:HOFT - Free Report) by 49.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,863 shares of the company's stock after selling 82,756 shares during the quarter. Franklin Resources Inc. owned approximately 0.80% of Hooker Furnishings worth $1,203,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Oak Hill Wealth Advisors LLC bought a new position in shares of Hooker Furnishings during the 4th quarter worth about $145,000. Barclays PLC boosted its holdings in Hooker Furnishings by 270.4% in the third 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. HighTower Advisors LLC grew its stake in Hooker Furnishings by 26.4% in the third quarter. HighTower Advisors LLC now owns 19,004 shares of the company's stock valued at $344,000 after acquiring an additional 3,966 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Hooker Furnishings by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,531 shares of the company's stock valued at $442,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Hooker Furnishings by 5.0% during the fourth 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 currently owned by institutional investors and hedge funds.

Hooker Furnishings Stock Up 14.8 %

Shares of HOFT traded up $1.12 on Friday, reaching $8.69. The company's stock had a trading volume of 257,217 shares, compared to its average volume of 42,265. The stock has a market capitalization of $93.07 million, a PE ratio of -9.55, a PEG ratio of 0.85 and a beta of 1.23. The company has a current ratio of 3.16, a quick ratio of 1.76 and a debt-to-equity ratio of 0.10. Hooker Furnishings Co. has a twelve month low of $7.34 and a twelve month high of $19.79. The firm has a fifty day moving average of $11.11 and a 200-day moving average of $14.06.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last announced its earnings results on Thursday, April 17th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.15). Hooker Furnishings had a negative net margin of 2.46% and a negative return on equity of 3.51%. The company had revenue of $104.46 million for the quarter, compared to analysts' expectations of $101.25 million. During the same period in the previous year, the firm earned $0.06 EPS. Equities analysts predict that Hooker Furnishings Co. will post -0.44 EPS for the current year.

Hooker Furnishings Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 10.59%. The ex-dividend date of this dividend was Monday, March 17th. Hooker Furnishings's dividend payout ratio (DPR) is presently -101.10%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Hooker Furnishings from a "hold" rating to a "sell" rating in a research note on Sunday.

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.