Pzena Investment Management LLC lifted its stake in shares of Hooker Furnishings Co. (NASDAQ:HOFT - Free Report) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,335,593 shares of the company's stock after buying an additional 49,212 shares during the quarter. Pzena Investment Management LLC owned approximately 12.47% of Hooker Furnishings worth $18,712,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Azarias Capital Management L.P. raised its stake in Hooker Furnishings by 10.3% in the fourth quarter. Azarias Capital Management L.P. now owns 754,328 shares of the company's stock valued at $10,568,000 after buying an additional 70,281 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Hooker Furnishings by 1.0% in the third 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 lifted its position in shares of Hooker Furnishings by 4.9% during the 3rd quarter. State Street Corp now owns 172,370 shares of the company's stock worth $3,116,000 after buying an additional 8,117 shares during the last quarter. Peapod Lane Capital LLC acquired a new position in shares of Hooker Furnishings in the 4th quarter valued at $1,893,000. Finally, Bank of New York Mellon Corp grew its position in shares of Hooker Furnishings by 27.7% in the 4th quarter. Bank of New York Mellon Corp now owns 89,658 shares of the company's stock valued at $1,256,000 after buying an additional 19,459 shares during the last quarter. 73.63% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Hooker Furnishings
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 stock was sold at an average price of $17.10, for a total value of $42,561.90. Following the sale, the director now owns 20,783 shares of the company's stock, valued at approximately $355,389.30. The trade was a 10.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.70% of the company's stock.
Hooker Furnishings Stock Down 1.8 %
HOFT stock opened at $12.65 on Wednesday. The company has a market cap of $135.48 million, a price-to-earnings ratio of -13.90, a price-to-earnings-growth ratio of 0.85 and a beta of 1.16. The company has a fifty day moving average price of $13.06 and a 200 day moving average price of $15.46. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.16 and a quick ratio of 1.76. Hooker Furnishings Co. has a 12 month low of $12.06 and a 12 month high of $24.18.
Hooker Furnishings Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 7.27%. The ex-dividend date is Monday, March 17th. Hooker Furnishings's dividend payout ratio is currently -101.10%.
Analyst Ratings Changes
Separately, StockNews.com downgraded Hooker Furnishings from a "hold" rating to a "sell" rating in a research note on Friday, February 28th.
Check Out Our Latest Stock Report on HOFT
Hooker Furnishings Profile
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Free Report)
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.
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