Haverty Furniture Companies, Inc. (HVT) to Issue Quarterly Dividend of $0.32 on June 17th

Haverty Furniture Companies, Inc. (NYSE:HVT) declared a quarterly dividend on Monday, May 19th, Wall Street Journal reports. Investors of record on Monday, June 2nd will be given a dividend of 0.32 per share on Tuesday, June 17th. This represents a $1.28 dividend on an annualized basis and a yield of 6.16%. The ex-dividend date of this dividend is Monday, June 2nd.

Haverty Furniture Companies has raised its dividend payment by an average of 9.1% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Haverty Furniture Companies has a dividend payout ratio of 52.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Haverty Furniture Companies to earn $1.57 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 81.5%.

Haverty Furniture Companies Price Performance

Shares of HVT stock opened at $20.77 on Wednesday. The firm’s 50-day moving average is $19.40 and its two-hundred day moving average is $21.40. Haverty Furniture Companies has a 12 month low of $17.01 and a 12 month high of $29.85. The company has a market capitalization of $335.50 million, a PE ratio of 13.06, a price-to-earnings-growth ratio of 1.15 and a beta of 1.41.

Haverty Furniture Companies (NYSE:HVT) last issued its earnings results on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.09. Haverty Furniture Companies had a net margin of 3.57% and a return on equity of 8.69%. The company had revenue of $181.60 million for the quarter, compared to the consensus estimate of $178.36 million. Sell-side analysts forecast that Haverty Furniture Companies will post 0.88 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Sidoti raised shares of Haverty Furniture Companies to a “hold” rating in a research note on Tuesday, April 29th. StockNews.com raised shares of Haverty Furniture Companies from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th.

Institutional Investors Weigh In On Haverty Furniture Companies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC raised its stake in shares of Haverty Furniture Companies by 68.7% in the 1st quarter. Jane Street Group LLC now owns 172,099 shares of the company’s stock valued at $3,394,000 after acquiring an additional 70,060 shares during the period. AQR Capital Management LLC raised its stake in shares of Haverty Furniture Companies by 30.5% in the 1st quarter. AQR Capital Management LLC now owns 162,821 shares of the company’s stock valued at $3,211,000 after acquiring an additional 38,074 shares during the period. Empowered Funds LLC raised its stake in shares of Haverty Furniture Companies by 7.4% in the 1st quarter. Empowered Funds LLC now owns 92,185 shares of the company’s stock valued at $1,818,000 after acquiring an additional 6,387 shares during the period. Royal Bank of Canada raised its stake in shares of Haverty Furniture Companies by 13.8% in the 1st quarter. Royal Bank of Canada now owns 27,073 shares of the company’s stock valued at $534,000 after acquiring an additional 3,293 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Haverty Furniture Companies by 7.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company’s stock valued at $175,000 after acquiring an additional 651 shares during the period. 80.57% of the stock is owned by hedge funds and other institutional investors.

About Haverty Furniture Companies

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products and eclectic looks; and mattress product lines under the Tempur-Pedic, Serta, Sealy, and Stearns and Foster names.