Pzena Investment Management LLC Lowers Holdings in Hooker Furnishings Corp. (NASDAQ:HOFT)

Pzena Investment Management LLC trimmed its holdings in Hooker Furnishings Corp. (NASDAQ:HOFT) by 0.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,329,111 shares of the company’s stock after selling 6,482 shares during the quarter. Pzena Investment Management LLC owned 12.42% of Hooker Furnishings worth $13,344,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in HOFT. Bank of New York Mellon Corp boosted its holdings in Hooker Furnishings by 27.7% in the fourth quarter. Bank of New York Mellon Corp now owns 89,658 shares of the company’s stock valued at $1,256,000 after purchasing an additional 19,459 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Hooker Furnishings by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,531 shares of the company’s stock valued at $442,000 after purchasing an additional 1,900 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Hooker Furnishings by 36.1% during the 4th quarter. JPMorgan Chase & Co. now owns 59,467 shares of the company’s stock worth $833,000 after acquiring an additional 15,779 shares in the last quarter. Foundry Partners LLC boosted its stake in shares of Hooker Furnishings by 16.6% during the 4th quarter. Foundry Partners LLC now owns 100,455 shares of the company’s stock worth $1,407,000 after acquiring an additional 14,300 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake 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 worth $87,000 after acquiring an additional 1,356 shares in the last quarter. 73.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Hooker Furnishings from a “hold” rating to a “sell” rating in a research note on Sunday, April 20th.

Hooker Furnishings Trading Down 0.6%

HOFT stock opened at $10.76 on Friday. The company’s 50-day simple moving average is $10.43 and its 200-day simple moving average is $11.13. The company has a quick ratio of 1.96, a current ratio of 3.94 and a debt-to-equity ratio of 0.11. Hooker Furnishings Corp. has a 52-week low of $7.34 and a 52-week high of $19.79. The firm has a market cap of $115.13 million, a P/E ratio of -9.87, a PEG ratio of 5.95 and a beta of 1.37.

Hooker Furnishings (NASDAQ:HOFT) last posted its earnings results on Thursday, June 12th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.13). Hooker Furnishings had a negative return on equity of 3.41% and a negative net margin of 2.95%. The firm had revenue of $85.32 million for the quarter, compared to analysts’ expectations of $88.87 million. As a group, equities analysts forecast that Hooker Furnishings Corp. will post -0.44 EPS for the current fiscal year.

Hooker Furnishings Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 8.55%. The ex-dividend date was Monday, June 16th. Hooker Furnishings’s dividend payout ratio is presently -84.40%.

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.