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

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

Hooker Furnishings Stock Up 1.4 %

NASDAQ HOFT opened at $18.32 on Tuesday. The company has a current ratio of 3.98, a quick ratio of 2.31 and a debt-to-equity ratio of 0.10. Hooker Furnishings has a 1-year low of $14.73 and a 1-year high of $27.15. The company has a 50 day moving average of $22.96 and a 200-day moving average of $21.90. The company has a market cap of $195.27 million, a price-to-earnings ratio of 20.13, a PEG ratio of 1.07 and a beta of 1.06.

Hooker Furnishings Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a $0.23 dividend. The ex-dividend date was Friday, March 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.02%. Hooker Furnishings’s payout ratio is 101.10%.

Institutional Investors Weigh In On Hooker Furnishings

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. American National Bank & Trust Co. VA acquired a new stake in shares of Hooker Furnishings in the first quarter valued at approximately $357,000. Los Angeles Capital Management LLC raised its position in shares of Hooker Furnishings by 747.5% in the first quarter. Los Angeles Capital Management LLC now owns 89,088 shares of the company’s stock valued at $2,139,000 after buying an additional 78,576 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Hooker Furnishings in the fourth quarter valued at approximately $367,000. Barclays PLC increased its stake in Hooker Furnishings by 640.0% in the fourth quarter. Barclays PLC now owns 14,667 shares of the company’s stock valued at $383,000 after acquiring an additional 12,685 shares during the last quarter. Finally, West Tower Group LLC bought a new position in Hooker Furnishings in the fourth quarter valued at approximately $64,000. 73.63% of the stock is currently owned by institutional investors and hedge funds.

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.