Hooker Furnishings (NASDAQ:HOFT) Downgraded by StockNews.com

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

Hooker Furnishings Trading Down 0.7 %

HOFT stock opened at $18.06 on Tuesday. Hooker Furnishings has a 12-month low of $14.73 and a 12-month high of $27.15. The business’s 50-day moving average is $23.08 and its 200 day moving average is $21.92. The company has a current ratio of 3.98, a quick ratio of 2.31 and a debt-to-equity ratio of 0.10. The stock has a market cap of $192.52 million, a price-to-earnings ratio of 19.85, a PEG ratio of 1.07 and a beta of 1.06.

Hooker Furnishings Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 5.09%. The ex-dividend date was Friday, March 15th. Hooker Furnishings’s dividend payout ratio is currently 101.10%.

Institutional Investors Weigh In On Hooker Furnishings

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP lifted its stake in shares of Hooker Furnishings by 595.0% in the first quarter. Quantbot Technologies LP now owns 1,390 shares of the company’s stock worth $26,000 after buying an additional 1,190 shares in the last quarter. UBS Group AG lifted its stake in Hooker Furnishings by 584.8% in the 3rd quarter. UBS Group AG now owns 4,499 shares of the company’s stock worth $60,000 after purchasing an additional 3,842 shares in the last quarter. West Tower Group LLC purchased a new position in Hooker Furnishings in the 4th quarter worth approximately $64,000. Barclays PLC boosted its holdings in shares of Hooker Furnishings by 763.3% during the 1st quarter. Barclays PLC now owns 3,643 shares of the company’s stock worth $67,000 after purchasing an additional 3,221 shares during the last quarter. Finally, California State Teachers Retirement System purchased a new stake in shares of Hooker Furnishings in the second quarter valued at approximately $68,000. Institutional investors and hedge funds own 73.63% of the company’s stock.

Hooker Furnishings Company Profile

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.