Barclays PLC raised its position in Hooker Furnishings Co. (NASDAQ:HOFT – Free Report) by 270.4% during the third quarter, Holdings Channel.com reports. The fund owned 15,463 shares of the company’s stock after purchasing an additional 11,288 shares during the quarter. Barclays PLC’s holdings in Hooker Furnishings were worth $279,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Copeland Capital Management LLC purchased a new position in Hooker Furnishings during the 3rd quarter valued at about $37,000. Baron Wealth Management LLC bought a new stake in shares of Hooker Furnishings in the 3rd quarter worth approximately $215,000. HighTower Advisors LLC increased its stake in shares of Hooker Furnishings by 26.4% during the third quarter. HighTower Advisors LLC now owns 19,004 shares of the company’s stock valued at $344,000 after buying an additional 3,966 shares during the period. Marquette Asset Management LLC raised its holdings in shares of Hooker Furnishings by 131.1% during the third quarter. Marquette Asset Management LLC now owns 19,648 shares of the company’s stock valued at $355,000 after acquiring an additional 11,145 shares in the last quarter. Finally, Inspire Advisors LLC lifted its stake in Hooker Furnishings by 56.6% in the third quarter. Inspire Advisors LLC now owns 20,534 shares of the company’s stock worth $371,000 after acquiring an additional 7,422 shares during the period. 73.63% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised shares of Hooker Furnishings from a “sell” rating to a “hold” rating in a research report on Wednesday, January 8th.
Hooker Furnishings Price Performance
HOFT stock opened at $13.25 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.16 and a quick ratio of 1.76. Hooker Furnishings Co. has a 1 year low of $12.74 and a 1 year high of $25.80. The firm has a 50-day moving average of $15.82 and a 200 day moving average of $15.90. The company has a market cap of $141.91 million, a P/E ratio of -14.56 and a beta of 1.26.
Hooker Furnishings Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 6.94%. The ex-dividend date of this dividend was Friday, December 13th. Hooker Furnishings’s dividend payout ratio is currently -101.10%.
Insider Activity
In related news, Director Paulette Garafalo sold 2,489 shares of Hooker Furnishings stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $17.10, for a total transaction of $42,561.90. Following the completion of the transaction, the director now directly owns 20,783 shares of the company’s stock, valued at $355,389.30. This trade represents a 10.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by company insiders.
Hooker Furnishings 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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