Donald Smith & CO. Inc. Lowers Stake in Hooker Furnishings Co. (NASDAQ:HOFT)

Donald Smith & CO. Inc. lowered its stake in Hooker Furnishings Co. (NASDAQ:HOFT) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,145,272 shares of the company’s stock after selling 977 shares during the period. Donald Smith & CO. Inc. owned approximately 10.73% of Hooker Furnishings worth $29,869,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of HOFT. Azarias Capital Management L.P. grew its position in Hooker Furnishings by 50.4% during the third quarter. Azarias Capital Management L.P. now owns 497,603 shares of the company’s stock worth $9,678,000 after buying an additional 166,858 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Hooker Furnishings during the 3rd quarter worth $330,000. Bailard Inc. purchased a new stake in shares of Hooker Furnishings in the 4th quarter worth about $243,000. Strs Ohio increased its stake in shares of Hooker Furnishings by 44.6% during the 3rd quarter. Strs Ohio now owns 28,200 shares of the company’s stock worth $548,000 after purchasing an additional 8,700 shares in the last quarter. Finally, Baron Wealth Management LLC purchased a new stake in Hooker Furnishings in the 4th quarter valued at approximately $207,000. 73.63% of the stock is owned by institutional investors and hedge funds.

Hooker Furnishings Trading Down 0.2 %

Shares of HOFT traded down $0.04 during mid-day trading on Monday, reaching $17.30. The company had a trading volume of 40,205 shares, compared to its average volume of 40,644. The firm has a fifty day simple moving average of $22.25 and a 200-day simple moving average of $21.90. Hooker Furnishings Co. has a fifty-two week low of $14.73 and a fifty-two week high of $27.15. The company has a current ratio of 3.98, a quick ratio of 2.49 and a debt-to-equity ratio of 0.10. The stock has a market cap of $184.42 million, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06.

Hooker Furnishings Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date of this dividend was Friday, March 15th. Hooker Furnishings’s dividend payout ratio (DPR) is presently 101.10%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Hooker Furnishings from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th.

About Hooker Furnishings

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. The company's 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.