Hooker Furnishings (NASDAQ:HOFT) Stock Price Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• Hooker Furnishings shares crossed above its 200-day moving average of $11.45, trading as high as $12.03 and last at $11.95 on volume of 24,519.
• Analyst coverage is mixed—recent upgrades from Wall Street Zen and Zacks moved the stock to Hold, Weiss Ratings remains a Sell, and the MarketBeat consensus is Reduce.
• The company declared a quarterly dividend of $0.115 (annualized $0.46), implying a 3.8% yield; the ex-dividend date is March 16 and payable March 31.

Shares of Hooker Furnishings Corp. (NASDAQ:HOFT - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.45 and traded as high as $12.03. Hooker Furnishings shares last traded at $11.95, with a volume of 24,519 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HOFT shares. Wall Street Zen upgraded Hooker Furnishings from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. Weiss Ratings reiterated a "sell (d)" rating on shares of Hooker Furnishings in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Hooker Furnishings from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Reduce".

Hooker Furnishings Price Performance

The stock has a market capitalization of $128.82 million, a PE ratio of -4.25, a PEG ratio of 0.89 and a beta of 1.35. The firm's fifty day moving average price is $13.52 and its two-hundred day moving average price is $11.45. The company has a quick ratio of 1.35, a current ratio of 2.67 and a debt-to-equity ratio of 0.02.

Hooker Furnishings Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, March 16th. Hooker Furnishings's dividend payout ratio (DPR) is -16.37%.

Institutional Trading of Hooker Furnishings

A number of hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. lifted its holdings in Hooker Furnishings by 940.0% in the second quarter. Osaic Holdings Inc. now owns 10,400 shares of the company's stock valued at $110,000 after acquiring an additional 9,400 shares during the period. Cerity Partners LLC purchased a new stake in shares of Hooker Furnishings during the 4th quarter valued at about $117,000. Strs Ohio purchased a new stake in shares of Hooker Furnishings during the 1st quarter valued at about $124,000. LPL Financial LLC lifted its stake in shares of Hooker Furnishings by 16.6% in the 4th quarter. LPL Financial LLC now owns 11,684 shares of the company's stock worth $132,000 after purchasing an additional 1,660 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Hooker Furnishings in the 1st quarter worth approximately $146,000. Hedge funds and other institutional investors own 73.60% of the company's stock.

About Hooker Furnishings

Hooker Furnishings, formerly known as Hooker Furniture Corporation, is a designer, marketer and distributor of high-quality home furnishings. Headquartered in Martinsville, Virginia, the company offers a broad range of wood and upholstered furniture products across bedroom, dining, home office and accent categories. Its portfolio includes solid wood and engineered wood case goods, upholstered seating, accent tables and decorative accessories, reflecting styles that range from traditional to contemporary.

The company's operations are organized into three reportable segments: Domestic Wholesale, Retail and Logistics, and International.

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