1,563,451 Shares in Haverty Furniture Companies, Inc. $HVT Bought by Pzena Investment Management LLC

Key Points

• Pzena Investment Management acquired 1.56 million Haverty Furniture shares valued at approximately $39.9 million, representing a 9.71% stake. Institutional investors collectively own 80.57% of the company.
• Haverty Furniture reported quarterly earnings of $0.25 per share, topping estimates of $0.23, while revenue of $194.94 million also exceeded expectations.
• Analysts maintain a consensus “Hold” rating. The company declared a quarterly dividend of $0.33, equivalent to a $1.32 annual payout and a 4.7% yield.

Pzena Investment Management LLC acquired a new stake in Haverty Furniture Companies, Inc. (NYSE:HVT - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,563,451 shares of the company's stock, valued at approximately $39,915,000. Pzena Investment Management LLC owned about 9.71% of Haverty Furniture Companies at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in HVT. Royal Bank of Canada boosted its holdings in Haverty Furniture Companies by 13.8% during the first quarter. Royal Bank of Canada now owns 27,073 shares of the company's stock worth $534,000 after buying an additional 3,293 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Haverty Furniture Companies by 30.5% in the 1st quarter. AQR Capital Management LLC now owns 162,821 shares of the company's stock valued at $3,211,000 after acquiring an additional 38,074 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Haverty Furniture Companies by 7.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company's stock valued at $175,000 after acquiring an additional 651 shares during the period. Empowered Funds LLC raised its position in shares of Haverty Furniture Companies by 7.4% in the 1st quarter. Empowered Funds LLC now owns 92,185 shares of the company's stock valued at $1,818,000 after acquiring an additional 6,387 shares during the period. Finally, Jane Street Group LLC boosted its stake in Haverty Furniture Companies by 68.7% during the 1st quarter. Jane Street Group LLC now owns 172,099 shares of the company's stock worth $3,394,000 after acquiring an additional 70,060 shares during the last quarter. Institutional investors and hedge funds own 80.57% of the company's stock.

Analyst Ratings Changes

HVT has been the subject of a number of analyst reports. Zacks Research upgraded shares of Haverty Furniture Companies from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Wall Street Zen upgraded shares of Haverty Furniture Companies from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Haverty Furniture Companies in a research report on Tuesday, August 4th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Hold".

Haverty Furniture Companies Price Performance

Shares of Haverty Furniture Companies stock opened at $28.38 on Tuesday. The company has a market capitalization of $442.44 million, a P/E ratio of 20.87, a price-to-earnings-growth ratio of 1.48 and a beta of 1.20. The business has a 50-day moving average of $25.67 and a two-hundred day moving average of $23.94. Haverty Furniture Companies, Inc. has a 1 year low of $19.89 and a 1 year high of $29.83.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. Haverty Furniture Companies had a return on equity of 7.15% and a net margin of 2.93%.The business had revenue of $194.94 million for the quarter, compared to analysts' expectations of $189.19 million. On average, equities analysts anticipate that Haverty Furniture Companies, Inc. will post 1.62 EPS for the current fiscal year.

Haverty Furniture Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 25th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.32 dividend on an annualized basis and a yield of 4.7%. Haverty Furniture Companies's payout ratio is presently 97.06%.

Haverty Furniture Companies Profile

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and home décor in the United States. Founded in 1885 by J.J. Haverty and headquartered in Atlanta, Georgia, the company offers a broad assortment of upholstered furniture, case goods, mattresses, area rugs and decorative accessories. Customers can shop through a network of company-owned showrooms as well as an e-commerce platform, supported by in-house design services, delivery options and consumer financing programs.

Over more than a century of operation, Havertys has expanded its presence primarily across the Southeast and select markets beyond.

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