Hooker Furnishings Corp. (NASDAQ:HOFT) Plans $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. Shareholders 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 dividend yield of 8.5%.

Hooker Furnishings has a dividend payout ratio of 68.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 0.6%

Shares of HOFT stock traded up $0.06 during mid-day trading on Tuesday, hitting $10.85. The stock had a trading volume of 23,218 shares, compared to its average volume of 74,730. Hooker Furnishings has a 12-month low of $7.34 and a 12-month high of $19.79. The firm has a market capitalization of $116.13 million, a P/E ratio of -9.95, a price-to-earnings-growth ratio of 6.00 and a beta of 1.32. The firm's 50-day moving average is $10.40 and its two-hundred day moving average is $10.32. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.94 and a quick ratio of 1.96.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last issued its earnings results on Thursday, June 12th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate 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. On average, analysts predict that Hooker Furnishings will post -0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hooker Furnishings

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its holdings in shares of Hooker Furnishings by 225.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,074 shares of the company's stock valued at $43,000 after purchasing an additional 2,130 shares during the period. Wells Fargo & Company MN boosted its position in Hooker Furnishings by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 6,227 shares of the company's stock worth $87,000 after purchasing an additional 1,356 shares in the last quarter. Osaic Holdings Inc. boosted its position in Hooker Furnishings by 940.0% during the second quarter. Osaic Holdings Inc. now owns 10,400 shares of the company's stock worth $110,000 after purchasing an additional 9,400 shares in the last quarter. Strs Ohio purchased a new position in Hooker Furnishings during the first quarter worth approximately $124,000. Finally, Jane Street Group LLC purchased a new position in Hooker Furnishings during the first quarter worth approximately $146,000. 73.60% of the stock is currently owned by hedge funds and other 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.

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