Hooker Furnishings Corp. (NASDAQ:HOFT) Announces $0.23 Quarterly Dividend

Key Points

• Hooker Furnishings Corp. announced a quarterly dividend of $0.23 per share, payable on September 30th to shareholders of record on September 19th, reflecting an annualized yield of 8.5%.
• The company's earnings report showed a loss of $0.29 per share in the last quarter, missing estimates and indicating a negative return on equity of 3.41%.
• Institutional investors have shown increased interest, with significant stake increases, including a 225.6% rise in holdings by Tower Research Capital in the fourth quarter.

Hooker Furnishings Corp. (NASDAQ:HOFT - Get Free Report) announced a quarterly dividend on Tuesday, September 9th, RTT News reports. Investors of record on Friday, September 19th will be paid a dividend of 0.23 per share on Tuesday, September 30th. This represents a c) annualized dividend and a yield of 8.9%. The ex-dividend date is Friday, September 19th.

Hooker Furnishings has a dividend payout ratio of 68.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Hooker Furnishings to earn $1.10 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 83.6%.

Hooker Furnishings Stock Down 3.6%

Hooker Furnishings stock traded down $0.39 during mid-day trading on Friday, hitting $10.34. The company had a trading volume of 58,584 shares, compared to its average volume of 36,462. The company has a quick ratio of 1.96, a current ratio of 3.94 and a debt-to-equity ratio of 0.11. The stock has a market cap of $110.64 million, a price-to-earnings ratio of -8.55, a PEG ratio of 5.90 and a beta of 1.32. The business has a fifty day moving average of $10.34 and a 200 day moving average of $10.27. Hooker Furnishings has a 1 year low of $7.34 and a 1 year high of $19.79.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last announced its earnings results on Thursday, September 11th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.19). Hooker Furnishings had a negative return on equity of 4.11% and a negative net margin of 3.40%.The business had revenue of $82.15 million for the quarter, compared to analysts' expectations of $91.21 million. During the same quarter last year, the business posted ($0.19) earnings per share. On average, sell-side analysts expect that Hooker Furnishings will post -0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in shares of Hooker Furnishings by 9,630.8% in the first quarter. GAMMA Investing LLC now owns 5,060 shares of the company's stock worth $504,000 after purchasing an additional 5,008 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Hooker Furnishings by 940.0% in the 2nd quarter. Osaic Holdings Inc. now owns 10,400 shares of the company's stock worth $110,000 after acquiring an additional 9,400 shares in the last quarter. Strs Ohio purchased a new stake in Hooker Furnishings in the 1st quarter worth about $124,000. Deutsche Bank AG raised its stake in shares of Hooker Furnishings by 97.5% during the 4th quarter. Deutsche Bank AG now owns 14,494 shares of the company's stock worth $203,000 after purchasing an additional 7,157 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Hooker Furnishings during the 1st quarter worth about $146,000. 73.60% of the stock is currently owned by institutional investors.

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.