Hooker Furnishings (NASDAQ:HOFT) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a sell rating to a hold rating in a research report released on Tuesday morning.

Hooker Furnishings Stock Down 0.1 %

Shares of NASDAQ:HOFT opened at $11.49 on Tuesday. The company has a market capitalization of $123.06 million, a PE ratio of -12.63, a price-to-earnings-growth ratio of 0.85 and a beta of 1.16. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.16 and a quick ratio of 1.76. The business has a fifty day moving average price of $12.84 and a two-hundred day moving average price of $15.27. Hooker Furnishings has a 1 year low of $11.17 and a 1 year high of $24.18.

Hooker Furnishings Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.23 per share. The ex-dividend date is Monday, March 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 8.01%. Hooker Furnishings’s dividend payout ratio is presently -101.10%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in shares of Hooker Furnishings by 225.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,074 shares of the company’s stock valued at $43,000 after buying an additional 2,130 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Hooker Furnishings by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 6,227 shares of the company’s stock valued at $87,000 after buying an additional 1,356 shares during the last quarter. Oak Hill Wealth Advisors LLC purchased a new position in shares of Hooker Furnishings during the 4th quarter valued at $145,000. Deutsche Bank AG lifted its position in shares of Hooker Furnishings by 97.5% during the 4th quarter. Deutsche Bank AG now owns 14,494 shares of the company’s stock valued at $203,000 after buying an additional 7,157 shares during the last quarter. Finally, Baron Wealth Management LLC purchased a new position in shares of Hooker Furnishings during the 3rd quarter valued at $215,000. Hedge funds and other institutional investors own 73.63% of the company’s stock.

About Hooker Furnishings

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.