Peapod Lane Capital LLC Trims Position in Hooker Furnishings Corp. (NASDAQ:HOFT)

Peapod Lane Capital LLC reduced its position in Hooker Furnishings Corp. (NASDAQ:HOFT - Free Report) by 36.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,572 shares of the company's stock after selling 49,527 shares during the period. Peapod Lane Capital LLC owned 0.80% of Hooker Furnishings worth $859,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its holdings in shares of Hooker Furnishings by 225.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,074 shares of the company's stock valued at $43,000 after acquiring an additional 2,130 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Hooker Furnishings by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 6,227 shares of the company's stock valued at $87,000 after purchasing an additional 1,356 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Hooker Furnishings by 97.5% in the 4th quarter. Deutsche Bank AG now owns 14,494 shares of the company's stock valued at $203,000 after purchasing an additional 7,157 shares during the last quarter. 4WEALTH Advisors Inc. purchased a new position in shares of Hooker Furnishings in the 4th quarter worth approximately $222,000. Finally, Bank of America Corp DE increased its position in shares of Hooker Furnishings by 13.3% during the 4th quarter. Bank of America Corp DE now owns 16,008 shares of the company's stock valued at $224,000 after purchasing an additional 1,875 shares during the last quarter. 73.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Hooker Furnishings from a "hold" rating to a "sell" rating in a research report on Sunday, April 20th.

Hooker Furnishings Trading Up 1.5%

Shares of Hooker Furnishings stock traded up $0.17 during trading on Friday, hitting $11.17. The stock had a trading volume of 56,395 shares, compared to its average volume of 59,159. Hooker Furnishings Corp. has a 12 month low of $7.34 and a 12 month high of $19.79. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.94 and a quick ratio of 1.96. The firm's fifty day simple moving average is $10.27 and its 200-day simple moving average is $11.18. The stock has a market cap of $119.52 million, a PE ratio of -10.25, a PEG ratio of 6.14 and a beta of 1.37.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last posted its quarterly earnings data on Thursday, June 12th. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.13). Hooker Furnishings had a negative return on equity of 3.41% and a negative net margin of 2.95%. The firm had revenue of $85.32 million during the quarter, compared to analysts' expectations of $88.87 million. As a group, sell-side analysts expect that Hooker Furnishings Corp. will post -0.44 EPS for the current fiscal year.

Hooker Furnishings Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 8.24%. The ex-dividend date of this dividend was Monday, June 16th. Hooker Furnishings's dividend payout ratio is currently -84.40%.

Hooker Furnishings Company Profile

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.