Hooker Furnishings Corp. (HOFT) to Issue Quarterly Dividend of $0.12 on March 31st

Hooker Furnishings Corp. (NASDAQ:HOFT) declared a quarterly dividend on Thursday, March 5th. Shareholders of record on Monday, March 16th will be given a dividend of 0.115 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Monday, March 16th.

Hooker Furnishings has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 9 consecutive years. Hooker Furnishings has a dividend payout ratio of 34.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Hooker Furnishings to earn $1.10 per share next year, which means the company should continue to be able to cover its $0.46 annual dividend with an expected future payout ratio of 41.8%.

Hooker Furnishings Stock Up 2.3%

HOFT stock traded up $0.30 during mid-day trading on Friday, reaching $13.07. 29,683 shares of the company traded hands, compared to its average volume of 31,540. The company has a quick ratio of 1.35, a current ratio of 2.67 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average price is $13.49 and its 200 day moving average price is $11.36. The stock has a market cap of $140.89 million, a price-to-earnings ratio of -4.65, a P/E/G ratio of 1.04 and a beta of 1.35. Hooker Furnishings has a fifty-two week low of $7.34 and a fifty-two week high of $15.99.

Hooker Furnishings (NASDAQ:HOFT) last issued its quarterly earnings data on Thursday, December 11th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.54. The firm had revenue of $70.73 million during the quarter, compared to the consensus estimate of $85.50 million. Hooker Furnishings had a negative return on equity of 1.07% and a negative net margin of 8.71%. As a group, equities research analysts predict that Hooker Furnishings will post -0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. increased its position in shares of Hooker Furnishings by 940.0% during the 2nd quarter. Osaic Holdings Inc. now owns 10,400 shares of the company’s stock valued at $110,000 after purchasing an additional 9,400 shares during the last quarter. Cerity Partners LLC purchased a new position in shares of Hooker Furnishings in the 4th quarter worth about $117,000. Strs Ohio bought a new position in Hooker Furnishings during the first quarter valued at about $124,000. LPL Financial LLC grew its position in Hooker Furnishings by 16.6% during the fourth quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock valued at $132,000 after buying an additional 1,660 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Hooker Furnishings during the first quarter worth about $146,000. Institutional investors own 73.60% of the company’s stock.

About Hooker Furnishings

Hooker Furnishings, formerly known as Hooker Furniture Corporation, is a designer, marketer and distributor of high-quality home furnishings. Headquartered in Martinsville, Virginia, the company offers a broad range of wood and upholstered furniture products across bedroom, dining, home office and accent categories. Its portfolio includes solid wood and engineered wood case goods, upholstered seating, accent tables and decorative accessories, reflecting styles that range from traditional to contemporary.

The company’s operations are organized into three reportable segments: Domestic Wholesale, Retail and Logistics, and International.