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

Hooker Furnishings Co. (NASDAQ:HOFT - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.16 and traded as high as $12.16. Hooker Furnishings shares last traded at $11.36, with a volume of 117,109 shares trading hands.

Wall Street Analysts Forecast Growth

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

Hooker Furnishings Stock Performance

The business has a 50 day simple moving average of $9.45 and a 200 day simple moving average of $11.99. The company has a quick ratio of 1.76, a current ratio of 3.16 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $108.96 million, a PE ratio of -11.19, a PEG ratio of 0.85 and a beta of 1.37.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last released its quarterly earnings results on Thursday, June 12th. The company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.13). Hooker Furnishings had a negative net margin of 2.46% and a negative return on equity of 3.51%. The business had revenue of $85.32 million during the quarter, compared to analysts' expectations of $88.87 million. Equities research analysts predict that Hooker Furnishings Co. will post -0.44 EPS for the current fiscal year.

Hooker Furnishings Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 9.04%. The ex-dividend date of this dividend is Monday, June 16th. Hooker Furnishings's dividend payout ratio (DPR) is presently -77.31%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HOFT. Empowered Funds LLC increased its holdings in shares of Hooker Furnishings by 5.0% in the fourth quarter. Empowered Funds LLC now owns 51,623 shares of the company's stock valued at $723,000 after purchasing an additional 2,435 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Hooker Furnishings by 27.7% in the fourth quarter. Bank of New York Mellon Corp now owns 89,658 shares of the company's stock valued at $1,256,000 after purchasing an additional 19,459 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Hooker Furnishings by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,531 shares of the company's stock valued at $442,000 after purchasing an additional 1,900 shares during the period. Oak Hill Wealth Advisors LLC acquired a new position in shares of Hooker Furnishings in the fourth quarter valued at about $145,000. Finally, Pzena Investment Management LLC increased its holdings in shares of Hooker Furnishings by 3.8% in the fourth quarter. Pzena Investment Management LLC now owns 1,335,593 shares of the company's stock valued at $18,712,000 after purchasing an additional 49,212 shares during the period. 73.63% of the stock is owned by institutional investors and hedge funds.

About Hooker Furnishings

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.