Pzena Investment Management LLC Sells 36,871 Shares of Hooker Furnishings Corp. $HOFT

Pzena Investment Management LLC decreased its holdings in shares of Hooker Furnishings Corp. (NASDAQ:HOFT) by 2.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,505,752 shares of the company’s stock after selling 36,871 shares during the quarter. Pzena Investment Management LLC owned 14.09% of Hooker Furnishings worth $19,545,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Wyoming bought a new stake in shares of Hooker Furnishings during the 2nd quarter worth approximately $73,000. Royal Bank of Canada boosted its holdings in Hooker Furnishings by 6.0% during the 1st quarter. Royal Bank of Canada now owns 21,383 shares of the company’s stock valued at $276,000 after acquiring an additional 1,218 shares during the period. PDT Partners LLC bought a new position in Hooker Furnishings in the 2nd quarter valued at $330,000. Empowered Funds LLC grew its position in Hooker Furnishings by 10.6% in the 1st quarter. Empowered Funds LLC now owns 28,696 shares of the company’s stock valued at $370,000 after acquiring an additional 2,747 shares during the last quarter. Finally, Baron Wealth Management LLC increased its stake in Hooker Furnishings by 38.3% in the second quarter. Baron Wealth Management LLC now owns 22,960 shares of the company’s stock worth $409,000 after purchasing an additional 6,364 shares during the period. 73.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HOFT has been the subject of several research analyst reports. Wall Street Zen downgraded Hooker Furnishings from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 20th. Zacks Research lowered shares of Hooker Furnishings from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings cut shares of Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, October 9th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Hooker Furnishings has an average rating of “Reduce”.

Hooker Furnishings Price Performance

NASDAQ:HOFT opened at $14.61 on Friday. Hooker Furnishings Corp. has a 1-year low of $8.88 and a 1-year high of $18.09. The company has a 50-day moving average of $13.20 and a 200 day moving average of $13.71. The firm has a market cap of $156.18 million, a PE ratio of -8.64, a price-to-earnings-growth ratio of 2.08 and a beta of 1.15.

Hooker Furnishings Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a $0.1150 dividend. This represents a $0.46 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, September 15th. Hooker Furnishings’s dividend payout ratio is presently -27.22%.

Hooker Furnishings Profile

Hooker Furnishings Corporation is a home furnishings company that designs, manufactures, imports and markets residential furniture. Its product offerings include bedroom, dining room, living room, home office and occasional furniture, along with upholstered seating and outdoor furnishings.

The company markets products under brands that include Hooker Furniture, Home Meridian, Sam Moore, Sunset West and BOOMER. Its portfolio spans casegoods, motion and stationary upholstery, leather furniture, outdoor furniture and other home décor products.