Hooker Furnishings Corp. (NASDAQ:HOFT – Get Free Report) announced a quarterly dividend on Tuesday, June 9th. Stockholders of record on Friday, June 19th will be given a dividend of 0.115 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Thursday, June 18th.
Hooker Furnishings has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 9 consecutive years. Hooker Furnishings has a dividend payout ratio of 34.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Hooker Furnishings to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.46 annual dividend with an expected future payout ratio of 35.7%.
Hooker Furnishings Stock Up 1.5%
NASDAQ HOFT opened at $12.27 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.37 and a quick ratio of 1.60. The stock has a market capitalization of $132.27 million, a PE ratio of -4.83, a PEG ratio of 1.29 and a beta of 1.19. Hooker Furnishings has a 1 year low of $8.61 and a 1 year high of $15.99. The business’s 50-day moving average is $13.00 and its 200 day moving average is $12.63.
Hedge Funds Weigh In On Hooker Furnishings
Several institutional investors and hedge funds have recently added to or reduced their stakes in HOFT. Osaic Holdings Inc. grew its position in shares of Hooker Furnishings by 940.0% in the 2nd quarter. Osaic Holdings Inc. now owns 10,400 shares of the company’s stock worth $110,000 after buying an additional 9,400 shares during the period. Cerity Partners LLC bought a new stake in Hooker Furnishings during the fourth quarter worth about $117,000. Strs Ohio purchased a new stake in Hooker Furnishings in the first quarter worth about $124,000. LPL Financial LLC grew its holdings in Hooker Furnishings by 16.6% in the fourth quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock worth $132,000 after purchasing an additional 1,660 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Hooker Furnishings during the first quarter valued at approximately $146,000. Hedge funds and other institutional investors own 73.60% of the company’s stock.
Hooker Furnishings Company Profile
Hooker Furnishings, formerly known as Hooker Furniture Corporation, is a designer, marketer and distributor of high-quality home furnishings. Headquartered in Martinsville, Virginia, the company offers a broad range of wood and upholstered furniture products across bedroom, dining, home office and accent categories. Its portfolio includes solid wood and engineered wood case goods, upholstered seating, accent tables and decorative accessories, reflecting styles that range from traditional to contemporary.
The company’s operations are organized into three reportable segments: Domestic Wholesale, Retail and Logistics, and International.
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