Hsbc Holdings PLC Raises Holdings in Ethan Allen Interiors Inc. $ETD

Key Points

• HSBC Holdings PLC increased its stake in Ethan Allen Interiors Inc. by 80.7%, acquiring an additional 12,037 shares, totaling approximately 0.11% ownership valued at $748,000.
• Ethan Allen reported a quarterly earnings per share of $0.49, exceeding analysts' expectations of $0.45, although revenue decreased 4.9% compared to last year.
• The company announced a quarterly dividend of $0.39 per share, yielding approximately 5.3%, with a payout ratio of 77.61%.

Hsbc Holdings PLC lifted its position in shares of Ethan Allen Interiors Inc. (NYSE:ETD - Free Report) by 80.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,961 shares of the company's stock after purchasing an additional 12,037 shares during the quarter. Hsbc Holdings PLC owned about 0.11% of Ethan Allen Interiors worth $748,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of ETD. Versor Investments LP purchased a new position in Ethan Allen Interiors in the 1st quarter worth approximately $970,000. American Century Companies Inc. raised its position in Ethan Allen Interiors by 9.2% in the first quarter. American Century Companies Inc. now owns 792,940 shares of the company's stock worth $21,964,000 after acquiring an additional 66,727 shares during the period. Kovitz Investment Group Partners LLC increased its stake in shares of Ethan Allen Interiors by 25.2% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 42,559 shares of the company's stock worth $1,179,000 after purchasing an additional 8,567 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of Ethan Allen Interiors by 6.9% in the 1st quarter. HighTower Advisors LLC now owns 8,129 shares of the company's stock worth $225,000 after purchasing an additional 522 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its stake in shares of Ethan Allen Interiors by 65.8% in the 1st quarter. Public Sector Pension Investment Board now owns 93,989 shares of the company's stock worth $2,603,000 after purchasing an additional 37,304 shares in the last quarter. Institutional investors own 83.80% of the company's stock.

Analyst Ratings Changes

Separately, Telsey Advisory Group restated 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 analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $30.00.

Ethan Allen Interiors Stock Performance

Ethan Allen Interiors stock remained flat at $30.24 during midday trading on Friday. 72,545 shares of the company were exchanged, compared to its average volume of 292,810. Ethan Allen Interiors Inc. has a 12 month low of $24.55 and a 12 month high of $33.77. The company has a market capitalization of $769.00 million, a price-to-earnings ratio of 15.07 and a beta of 1.13. The stock has a 50-day simple moving average of $29.53 and a two-hundred day simple moving average of $28.03.

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

Ethan Allen Interiors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Wednesday, August 13th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Wednesday, August 13th. Ethan Allen Interiors's payout ratio is 77.61%.

Ethan Allen Interiors Company Profile

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.