Hooker Furnishings Corp. (NASDAQ:HOFT) to Issue Quarterly Dividend of $0.12

Hooker Furnishings Corp. (NASDAQ:HOFT) declared a quarterly dividend on Thursday, September 3rd. Stockholders of record on Tuesday, September 15th will be paid a dividend of 0.115 per share on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 15th.

Hooker Furnishings has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 9 consecutive years. Hooker Furnishings has a payout ratio of 34.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Hooker Furnishings to earn $1.34 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 34.3%.

Hooker Furnishings Price Performance

Hooker Furnishings stock opened at $12.66 on Friday. The company has a market capitalization of $135.97 million, a P/E ratio of -5.89, a P/E/G ratio of 1.19 and a beta of 1.14. Hooker Furnishings has a 1 year low of $8.61 and a 1 year high of $18.09. The business has a 50 day moving average of $14.67 and a 200-day moving average of $13.86.

Hooker Furnishings (NASDAQ:HOFT) last announced its earnings results on Thursday, June 11th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.17. Hooker Furnishings had a positive return on equity of 1.61% and a negative net margin of 7.90%.The firm had revenue of $69.45 million for the quarter, compared to the consensus estimate of $66.31 million. Equities analysts anticipate that Hooker Furnishings will post 0.77 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Pzena Investment Management LLC bought a new stake in shares of Hooker Furnishings in the second quarter worth about $27,505,000. Donald Smith & CO. Inc. bought a new stake in shares of Hooker Furnishings in the 2nd quarter worth $16,982,000. Ameriprise Financial Inc. purchased a new position in shares of Hooker Furnishings during the second quarter valued at approximately $3,619,000. BlackRock Inc. purchased a new stake in Hooker Furnishings during the second quarter valued at $4,156,000. Finally, Gate City Capital Management LLC purchased a new stake in Hooker Furnishings during the fourth quarter valued at approximately $2,472,000. 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.