JPMorgan Chase & Co. trimmed its position in shares of Haverty Furniture Companies, Inc. (NYSE:HVT) by 51.7% during the third quarter, Holdings Channel reports. The fund owned 17,506 shares of the company’s stock after selling 18,772 shares during the quarter. JPMorgan Chase & Co.’s holdings in Haverty Furniture Companies were worth $387,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in shares of Haverty Furniture Companies in the 2nd quarter worth about $166,000. Engineers Gate Manager LP purchased a new position in shares of Haverty Furniture Companies in the 3rd quarter worth about $236,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Haverty Furniture Companies in the 3rd quarter worth about $290,000. First Trust Advisors LP boosted its holdings in shares of Haverty Furniture Companies by 17.3% in the 2nd quarter. First Trust Advisors LP now owns 21,883 shares of the company’s stock worth $473,000 after buying an additional 3,223 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Haverty Furniture Companies by 104.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 28,151 shares of the company’s stock worth $623,000 after buying an additional 14,391 shares during the last quarter. 82.50% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on HVT shares. Zacks Investment Research raised shares of Haverty Furniture Companies from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Wednesday, October 10th. TheStreet downgraded shares of Haverty Furniture Companies from a “b” rating to a “c+” rating in a report on Thursday, December 20th. Finally, ValuEngine raised shares of Haverty Furniture Companies from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th.
Haverty Furniture Companies (NYSE:HVT) last released its quarterly earnings data on Tuesday, October 30th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.01. The business had revenue of $210.50 million for the quarter, compared to the consensus estimate of $212.43 million. Haverty Furniture Companies had a net margin of 2.89% and a return on equity of 10.11%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 earnings per share. On average, analysts anticipate that Haverty Furniture Companies, Inc. will post 1.37 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 17th. Shareholders of record on Monday, December 3rd were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend was Friday, November 30th. Haverty Furniture Companies’s dividend payout ratio (DPR) is presently 57.60%.
Haverty Furniture Companies announced that its board has approved a stock buyback plan on Friday, November 16th that allows the company to buyback $15.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
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Haverty Furniture Companies Company Profile
Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products, as well as mattress product lines under the Sealy, Tempur-Pedic, Serta, Stearns & Foster, and Beautyrest Black names.
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