First Eagle Investment Management LLC Boosts Position in Hooker Furnishings Corp. $HOFT

First Eagle Investment Management LLC raised its position in Hooker Furnishings Corp. (NASDAQ:HOFT) by 35.8% during the 2nd quarter, Holdings Channel reports. The firm owned 317,414 shares of the company’s stock after acquiring an additional 83,761 shares during the quarter. First Eagle Investment Management LLC’s holdings in Hooker Furnishings were worth $3,358,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Hooker Furnishings by 250.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 110,471 shares of the company’s stock valued at $1,109,000 after acquiring an additional 78,940 shares during the last quarter. Peapod Lane Capital LLC lifted its holdings in shares of Hooker Furnishings by 70.5% in the second quarter. Peapod Lane Capital LLC now owns 145,876 shares of the company’s stock valued at $1,543,000 after purchasing an additional 60,304 shares in the last quarter. Paradigm Capital Management Inc. NY acquired a new stake in shares of Hooker Furnishings in the first quarter valued at approximately $803,000. Pzena Investment Management LLC increased its stake in shares of Hooker Furnishings by 2.2% during the 2nd quarter. Pzena Investment Management LLC now owns 1,358,726 shares of the company’s stock worth $14,375,000 after purchasing an additional 29,615 shares in the last quarter. Finally, Foundry Partners LLC raised its position in shares of Hooker Furnishings by 11.9% during the 1st quarter. Foundry Partners LLC now owns 112,380 shares of the company’s stock worth $1,128,000 after purchasing an additional 11,925 shares during the last quarter. Institutional investors and hedge funds own 73.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HOFT. Weiss Ratings reiterated a “sell (d)” rating on shares of Hooker Furnishings in a report on Wednesday, October 8th. Zacks Research raised Hooker Furnishings from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Hooker Furnishings Stock Performance

Hooker Furnishings stock opened at $9.46 on Friday. The stock has a fifty day moving average price of $9.78 and a 200 day moving average price of $10.02. Hooker Furnishings Corp. has a 52 week low of $7.34 and a 52 week high of $19.79. The firm has a market capitalization of $101.70 million, a P/E ratio of -7.82 and a beta of 1.40. The company has a current ratio of 2.99, a quick ratio of 1.37 and a debt-to-equity ratio of 0.03.

Hooker Furnishings (NASDAQ:HOFT) last issued its quarterly earnings results on Thursday, September 11th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.19). Hooker Furnishings had a negative return on equity of 4.17% and a negative net margin of 3.40%.The business had revenue of $82.15 million during the quarter, compared to analyst estimates of $91.21 million. During the same period in the previous year, the business posted ($0.19) earnings per share. Equities research analysts anticipate that Hooker Furnishings Corp. will post -0.44 earnings per share for the current year.

Hooker Furnishings Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 19th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, September 19th. This represents a $0.92 annualized dividend and a yield of 9.7%. Hooker Furnishings’s dividend payout ratio is -76.03%.

About Hooker Furnishings

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.