State Street Corp Acquires 8,400 Shares of Haverty Furniture Companies, Inc. (HVT)
State Street Corp increased its holdings in shares of Haverty Furniture Companies, Inc. (NYSE:HVT) by 1.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 477,841 shares of the company’s stock after purchasing an additional 8,400 shares during the period. State Street Corp owned 2.46% of Haverty Furniture Companies worth $12,002,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. lifted its position in Haverty Furniture Companies by 23.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 108,485 shares of the company’s stock valued at $2,723,000 after acquiring an additional 20,882 shares during the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new stake in Haverty Furniture Companies during the second quarter valued at approximately $578,000. Martingale Asset Management L P lifted its position in Haverty Furniture Companies by 71.1% during the second quarter. Martingale Asset Management L P now owns 67,407 shares of the company’s stock valued at $1,692,000 after acquiring an additional 28,002 shares during the last quarter. Aperio Group LLC lifted its position in Haverty Furniture Companies by 54.6% during the second quarter. Aperio Group LLC now owns 15,478 shares of the company’s stock valued at $388,000 after acquiring an additional 5,469 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in Haverty Furniture Companies by 83.7% during the second quarter. Bank of Montreal Can now owns 16,420 shares of the company’s stock valued at $412,000 after acquiring an additional 7,481 shares during the last quarter. 78.94% of the stock is owned by institutional investors.
Separately, Zacks Investment Research raised shares of Haverty Furniture Companies from a “hold” rating to a “strong-buy” rating and set a $31.00 target price for the company in a research report on Wednesday, October 4th.
In related news, Director Fred L. Schuermann sold 1,950 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $23.15, for a total transaction of $45,142.50. Following the completion of the sale, the director now owns 3 shares of the company’s stock, valued at $69.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 10.31% of the company’s stock.
Shares of Haverty Furniture Companies, Inc. (HVT) opened at $23.40 on Friday. Haverty Furniture Companies, Inc. has a 52-week low of $21.05 and a 52-week high of $27.23. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.16 and a current ratio of 2.17. The company has a market cap of $497.59, a P/E ratio of 17.24, a P/E/G ratio of 4.40 and a beta of 1.11.
Haverty Furniture Companies (NYSE:HVT) last posted its earnings results on Tuesday, October 31st. The company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.04. Haverty Furniture Companies had a net margin of 3.53% and a return on equity of 10.10%. The company had revenue of $207.60 million during the quarter, compared to analysts’ expectations of $215.32 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. Haverty Furniture Companies’s revenue for the quarter was down 1.9% compared to the same quarter last year. equities analysts forecast that Haverty Furniture Companies, Inc. will post 1.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Wednesday, November 22nd will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $0.60 dividend on an annualized basis and a yield of 2.56%. Haverty Furniture Companies’s payout ratio is 44.12%.
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Haverty Furniture Companies Company Profile
Haverty Furniture Companies, Inc is a retailer of residential furniture and accessories. The Company sells home furnishings in its retail stores and through its Website, havertys.com. As of December 31, 2016, the Company had 124 stores in 16 states in the Southern and Midwest regions. As of December 31, 2016, the Company’s retail store space totaled approximately 4.5 million square feet for 124 stores.
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