Kovitz Investment Group Partners LLC Increases Stock Holdings in Ethan Allen Interiors Inc. $ETD

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Ethan Allen Interiors by 25.2%, owning approximately 0.17% of the company worth $1,179,000 after acquiring additional shares.
• Ethan Allen reported earnings per share of $0.49 for its latest quarter, exceeding analysts' expectations of $0.45, despite a 4.9% decline in year-over-year revenue.
• The company announced a quarterly dividend of $0.39 per share, yielding 5.2%, with a payout ratio of 77.61%.

Kovitz Investment Group Partners LLC grew its stake in Ethan Allen Interiors Inc. (NYSE:ETD - Free Report) by 25.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,559 shares of the company's stock after acquiring an additional 8,567 shares during the quarter. Kovitz Investment Group Partners LLC owned about 0.17% of Ethan Allen Interiors worth $1,179,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ETD. Invesco Ltd. increased its stake in shares of Ethan Allen Interiors by 6.7% in the 4th quarter. Invesco Ltd. now owns 351,472 shares of the company's stock worth $9,880,000 after acquiring an additional 22,115 shares during the last quarter. Barclays PLC increased its stake in shares of Ethan Allen Interiors by 134.2% in the 4th quarter. Barclays PLC now owns 133,910 shares of the company's stock worth $3,764,000 after acquiring an additional 76,736 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Ethan Allen Interiors by 7.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 24,189 shares of the company's stock worth $679,000 after acquiring an additional 1,676 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Ethan Allen Interiors by 82.2% in the 4th quarter. Hsbc Holdings PLC now owns 14,924 shares of the company's stock worth $417,000 after acquiring an additional 6,734 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Ethan Allen Interiors by 9.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,314 shares of the company's stock worth $572,000 after purchasing an additional 1,761 shares during the last quarter. 83.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Telsey Advisory Group reissued a "market perform" rating and set a $30.00 price objective on shares of Ethan Allen Interiors in a research report on Thursday, July 31st. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $30.00.

Ethan Allen Interiors Price Performance

Shares of NYSE:ETD traded up $1.1450 during midday trading on Friday, reaching $29.9550. 301,214 shares of the company's stock were exchanged, compared to its average volume of 295,725. The firm's 50 day simple moving average is $29.12 and its two-hundred day simple moving average is $28.01. The stock has a market cap of $761.76 million, a price-to-earnings ratio of 14.90 and a beta of 1.19. Ethan Allen Interiors Inc. has a fifty-two week low of $24.55 and a fifty-two week high of $33.77.

Ethan Allen Interiors (NYSE:ETD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.04. The firm had revenue of $160.36 million during the quarter, compared to the consensus estimate of $152.20 million. Ethan Allen Interiors had a return on equity of 10.92% and a net margin of 8.39%.The company's quarterly revenue was down 4.9% on a year-over-year basis. During the same period last year, the company earned $0.70 EPS. Equities research analysts predict that Ethan Allen Interiors Inc. will post 2.32 earnings per share for the current fiscal year.

Ethan Allen Interiors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Wednesday, August 13th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Wednesday, August 13th. Ethan Allen Interiors's dividend payout ratio (DPR) is 77.61%.

About Ethan Allen Interiors

Ethan Allen Interiors Inc operates as an interior design company, and manufacturer and retailer of home furnishings in the United States, Mexico, Honduras, and Canada. The company operates in two segments, Wholesale and Retail. Its products include case goods items, such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture, and wooden accents; upholstery comprising fabric-covered items, such as sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics, and leather; and home accent items consisting of window treatments and drapery hardware, wall decors, florals, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings, and home and garden furnishings.