BidaskClub downgraded shares of Hooker Furniture (NASDAQ:HOFT) from a buy rating to a hold rating in a report released on Tuesday.

Hooker Furniture (NASDAQ HOFT) traded down $1.10 during trading hours on Tuesday, hitting $41.55. The stock had a trading volume of 241,400 shares, compared to its average volume of 65,389. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.08 and a quick ratio of 2.47. The stock has a market cap of $501.67, a price-to-earnings ratio of 16.03 and a beta of 0.64. Hooker Furniture has a 52-week low of $29.75 and a 52-week high of $52.75.

Hooker Furniture (NASDAQ:HOFT) last posted its quarterly earnings data on Thursday, December 7th. The company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.04). The company had revenue of $157.90 million during the quarter, compared to analysts’ expectations of $160.02 million. Hooker Furniture had a return on equity of 15.26% and a net margin of 4.96%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned $0.56 earnings per share.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Monday, December 18th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.35%. This is a positive change from Hooker Furniture’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, December 15th. Hooker Furniture’s dividend payout ratio is 18.18%.

In other Hooker Furniture news, Director David G. Sweet sold 2,499 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $43.98, for a total value of $109,906.02. Following the completion of the sale, the director now owns 11,416 shares in the company, valued at approximately $502,075.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO George Revington sold 10,000 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $44.47, for a total value of $444,700.00. Following the completion of the sale, the chief operating officer now owns 35,451 shares of the company’s stock, valued at approximately $1,576,505.97. The disclosure for this sale can be found here. Insiders sold a total of 31,413 shares of company stock valued at $1,410,116 over the last 90 days. 2.90% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in Hooker Furniture by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 973,225 shares of the company’s stock worth $46,472,000 after buying an additional 4,091 shares in the last quarter. Vanguard Group Inc. increased its stake in Hooker Furniture by 4.2% in the 2nd quarter. Vanguard Group Inc. now owns 478,708 shares of the company’s stock worth $19,699,000 after buying an additional 19,505 shares in the last quarter. Northern Trust Corp increased its stake in Hooker Furniture by 5.5% in the 2nd quarter. Northern Trust Corp now owns 414,839 shares of the company’s stock worth $17,070,000 after buying an additional 21,530 shares in the last quarter. Punch & Associates Investment Management Inc. increased its stake in Hooker Furniture by 43.2% in the 2nd quarter. Punch & Associates Investment Management Inc. now owns 288,685 shares of the company’s stock worth $11,879,000 after buying an additional 87,040 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Hooker Furniture by 405.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 219,077 shares of the company’s stock worth $9,015,000 after buying an additional 175,712 shares in the last quarter. Institutional investors and hedge funds own 86.46% of the company’s stock.

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Hooker Furniture Company Profile

Hooker Furniture Corporation is a home furnishings marketing, design and logistics company offering sourcing of residential casegoods and upholstery, as well as domestically-produced leather and fabric-upholstered furniture. The Company operates through three segments: casegoods furniture, upholstered furniture and all other.

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