Hooker Furnishings (NASDAQ:HOFT) Downgraded to Hold at StockNews.com

StockNews.com cut shares of Hooker Furnishings (NASDAQ:HOFT) from a buy rating to a hold rating in a research report report published on Tuesday.

Hooker Furnishings Stock Performance

HOFT stock opened at $18.15 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.31 and a current ratio of 3.71. The stock has a market capitalization of $193.66 million, a price-to-earnings ratio of 19.95, a PEG ratio of 0.91 and a beta of 1.06. Hooker Furnishings has a 1 year low of $14.73 and a 1 year high of $27.15. The stock’s fifty day moving average is $23.29 and its two-hundred day moving average is $21.97.

Hooker Furnishings Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend was Friday, March 15th. Hooker Furnishings’s dividend payout ratio is currently 101.10%.

Institutional Investors Weigh In On Hooker Furnishings

A number of hedge funds and other institutional investors have recently modified their holdings of HOFT. SG Americas Securities LLC grew its holdings in Hooker Furnishings by 18.5% during the fourth quarter. SG Americas Securities LLC now owns 7,262 shares of the company’s stock worth $189,000 after acquiring an additional 1,135 shares during the period. Azarias Capital Management L.P. grew its holdings in Hooker Furnishings by 50.4% during the third quarter. Azarias Capital Management L.P. now owns 497,603 shares of the company’s stock worth $9,678,000 after acquiring an additional 166,858 shares during the period. Baron Wealth Management LLC acquired a new position in Hooker Furnishings during the fourth quarter worth about $207,000. Public Employees Retirement System of Ohio grew its holdings in Hooker Furnishings by 66.7% during the third quarter. Public Employees Retirement System of Ohio now owns 4,045 shares of the company’s stock worth $79,000 after acquiring an additional 1,618 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in Hooker Furnishings during the third quarter worth about $330,000. 73.63% of the stock is currently owned by institutional investors.

About Hooker Furnishings

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. The company's 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.