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

Hooker Furniture (HOFT) traded up $1.49 during trading hours on Tuesday, reaching $43.70. 146,924 shares of the company’s stock traded hands, compared to its average volume of 83,609. Hooker Furniture has a one year low of $29.75 and a one year high of $52.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.47 and a current ratio of 3.53. The stock has a market capitalization of $498.14, a price-to-earnings ratio of 15.92 and a beta of 0.64.

Hooker Furniture (NASDAQ:HOFT) last posted its quarterly earnings results on Thursday, December 7th. The company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.04). Hooker Furniture had a net margin of 4.96% and a return on equity of 14.89%. The business had revenue of $157.90 million during the quarter, compared to analysts’ expectations of $160.02 million. During the same period in the previous year, the company posted $0.56 earnings per share. Hooker Furniture’s revenue for the quarter was up 8.7% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Monday, December 18th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.28%. This is a positive change from Hooker Furniture’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, December 15th. Hooker Furniture’s dividend payout ratio is presently 18.18%.

In other Hooker Furniture news, COO George Revington sold 10,000 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $44.47, for a total value of $444,700.00. Following the completion of the transaction, the chief operating officer now owns 35,451 shares in the company, valued at $1,576,505.97. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David G. Sweet sold 2,499 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $43.98, for a total transaction of $109,906.02. Following the completion of the transaction, the director now owns 11,416 shares of the company’s stock, valued at approximately $502,075.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,607 shares of company stock worth $1,200,959. 2.90% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Prudential Financial Inc. acquired a new position in shares of Hooker Furniture in the second quarter worth about $293,000. Vanguard Group Inc. raised its position in shares of Hooker Furniture by 8.3% in the first quarter. Vanguard Group Inc. now owns 459,203 shares of the company’s stock worth $14,258,000 after acquiring an additional 35,153 shares during the period. Alliancebernstein L.P. acquired a new position in shares of Hooker Furniture in the second quarter worth about $267,000. Wells Fargo & Company MN raised its position in shares of Hooker Furniture by 22.4% in the second quarter. Wells Fargo & Company MN now owns 43,391 shares of the company’s stock worth $1,785,000 after acquiring an additional 7,949 shares during the period. Finally, Eqis Capital Management Inc. acquired a new position in shares of Hooker Furniture in the third quarter worth about $381,000. Institutional investors and hedge funds own 86.46% of the company’s stock.

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About Hooker Furniture

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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