Hooker Furnishings Corp. (HOFT) To Go Ex-Dividend on June 18th

Hooker Furnishings Corp. (NASDAQ:HOFT) declared a quarterly dividend on Tuesday, June 9th. Stockholders of record on Friday, June 19th will be paid a dividend of 0.115 per share on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Thursday, June 18th.

Hooker Furnishings has raised its dividend payment by an average of 0.0%annually 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 $1.29 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 35.7%.

Hooker Furnishings Trading Up 0.5%

Shares of HOFT stock opened at $12.33 on Thursday. The company’s 50-day moving average price is $12.99 and its 200-day moving average price is $12.64. The company has a current ratio of 3.37, a quick ratio of 1.60 and a debt-to-equity ratio of 0.02. The stock has a market cap of $132.92 million, a price-to-earnings ratio of -4.85, a PEG ratio of 1.31 and a beta of 1.19. Hooker Furnishings has a twelve month low of $8.61 and a twelve month high of $15.99.

Hooker Furnishings (NASDAQ:HOFT) last announced its quarterly earnings results on Thursday, June 11th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.17. The firm had revenue of $69.45 million for the quarter, compared to analysts’ expectations of $66.31 million. Hooker Furnishings had a negative net margin of 8.84% and a negative return on equity of 0.71%. As a group, equities analysts predict that Hooker Furnishings will post 0.67 earnings per share for the current year.

Institutional Trading of Hooker Furnishings

Several institutional investors and hedge funds have recently bought and sold shares of HOFT. Osaic Holdings Inc. raised its holdings in Hooker Furnishings by 940.0% in the 2nd quarter. Osaic Holdings Inc. now owns 10,400 shares of the company’s stock valued at $110,000 after buying an additional 9,400 shares during the period. Cerity Partners LLC purchased a new stake in Hooker Furnishings in the 4th quarter valued at about $117,000. Strs Ohio purchased a new stake in Hooker Furnishings in the 1st quarter valued at about $124,000. LPL Financial LLC raised its holdings in Hooker Furnishings by 16.6% in the 4th 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 in the 1st quarter valued at about $146,000. 73.60% of the stock is currently owned by hedge funds and other institutional investors.

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.