Hooker Furnishings (NASDAQ:HOFT) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Hooker Furnishings (NASDAQ:HOFT) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

Hooker Furnishings Stock Performance

Shares of NASDAQ HOFT opened at $16.93 on Thursday. The company has a market cap of $181.32 million, a P/E ratio of -18.60 and a beta of 1.22. Hooker Furnishings has a 52-week low of $13.09 and a 52-week high of $27.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.46 and a current ratio of 3.16. The firm’s fifty day moving average is $17.34 and its two-hundred day moving average is $16.05.

Hooker Furnishings Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a $0.23 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.43%. Hooker Furnishings’s dividend payout ratio is currently -101.10%.

Hedge Funds Weigh In On Hooker Furnishings

Several institutional investors have recently added to or reduced their stakes in HOFT. Barclays PLC boosted its position in shares of Hooker Furnishings by 270.4% during the 3rd quarter. Barclays PLC now owns 15,463 shares of the company’s stock valued at $279,000 after acquiring an additional 11,288 shares during the last quarter. Geode Capital Management LLC raised its stake in Hooker Furnishings by 1.0% during the third quarter. Geode Capital Management LLC now owns 241,310 shares of the company’s stock valued at $4,364,000 after purchasing an additional 2,493 shares in the last quarter. State Street Corp lifted its position in Hooker Furnishings by 4.9% during the third quarter. State Street Corp now owns 172,370 shares of the company’s stock valued at $3,116,000 after purchasing an additional 8,117 shares during the last quarter. Stifel Financial Corp lifted its position in Hooker Furnishings by 9.5% during the third quarter. Stifel Financial Corp now owns 44,003 shares of the company’s stock valued at $796,000 after purchasing an additional 3,827 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of Hooker Furnishings by 26.4% in the 3rd quarter. HighTower Advisors LLC now owns 19,004 shares of the company’s stock worth $344,000 after buying an additional 3,966 shares in the last quarter. Hedge funds and other institutional investors own 73.63% of the company’s stock.

About Hooker Furnishings

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.