Hsbc Holdings PLC Buys New Stake in Haverty Furniture Companies, Inc. $HVT

Key Points

• Hsbc Holdings PLC acquired 41,034 shares of Haverty Furniture Companies in the second quarter, worth approximately $1.04 million. Institutional investors collectively own 80.57% of the company.
• Havertys exceeded quarterly expectations, reporting earnings of $0.25 per share versus the $0.23 estimate and revenue of $194.94 million versus the $189.19 million consensus.
• The company declared a quarterly dividend of $0.33 per share, equivalent to a 4.9% annualized yield; analysts’ average rating remains “Hold,” despite one recent upgrade to “Buy.”

Hsbc Holdings PLC bought a new stake in Haverty Furniture Companies, Inc. (NYSE:HVT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 41,034 shares of the company's stock, valued at approximately $1,042,000. Hsbc Holdings PLC owned approximately 0.26% of Haverty Furniture Companies as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of HVT. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Haverty Furniture Companies by 57.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,721 shares of the company's stock valued at $40,000 after purchasing an additional 625 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Haverty Furniture Companies by 7.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company's stock worth $175,000 after buying an additional 651 shares during the last quarter. First Trust Advisors LP grew its stake in Haverty Furniture Companies by 2.0% during the 2nd quarter. First Trust Advisors LP now owns 42,391 shares of the company's stock worth $863,000 after buying an additional 843 shares during the last quarter. Bank of America Corp DE increased its position in Haverty Furniture Companies by 4.8% during the 1st quarter. Bank of America Corp DE now owns 26,230 shares of the company's stock valued at $556,000 after buying an additional 1,195 shares in the last quarter. Finally, Legal & General Group Plc acquired a new position in Haverty Furniture Companies during the 2nd quarter valued at about $32,000. 80.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HVT shares. Zacks Research raised Haverty Furniture Companies from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Weiss Ratings upgraded shares of Haverty Furniture Companies from a "hold (c-)" rating to a "hold (c+)" rating in a report on Tuesday, August 18th. Finally, Wall Street Zen raised shares of Haverty Furniture Companies from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold".

Haverty Furniture Companies Price Performance

Shares of HVT stock opened at $27.12 on Wednesday. The business has a fifty day moving average of $26.45 and a 200 day moving average of $24.03. Haverty Furniture Companies, Inc. has a 1 year low of $19.89 and a 1 year high of $29.83. The firm has a market capitalization of $422.80 million, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last posted its quarterly earnings results 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 the consensus estimate of $189.19 million. As a group, equities research analysts expect that Haverty Furniture Companies, Inc. will post 1.62 earnings per share for the current year.

Haverty Furniture Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Tuesday, August 25th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.9%. The ex-dividend date is Tuesday, August 25th. Haverty Furniture Companies's dividend payout ratio is 97.06%.

Insider Buying and Selling at Haverty Furniture Companies

In other news, Chairman Clarence H. Smith sold 20,991 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $28.16, for a total value of $591,106.56. Following the sale, the chairman owned 71,705 shares in the company, valued at $2,019,212.80. This represents a 22.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.40% of the stock is owned by insiders.

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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