Donald Smith & CO. Inc. Raises Stock Position in Hooker Furnishings Corp. $HOFT

Donald Smith & CO. Inc. lifted its position in Hooker Furnishings Corp. (NASDAQ:HOFT) by 7.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,066,754 shares of the company’s stock after buying an additional 70,681 shares during the period. Donald Smith & CO. Inc. owned approximately 0.10% of Hooker Furnishings worth $12,044,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Osaic Holdings Inc. grew its position in shares of Hooker Furnishings by 940.0% in the 2nd quarter. Osaic Holdings Inc. now owns 10,400 shares of the company’s stock worth $110,000 after buying an additional 9,400 shares during the last quarter. Cerity Partners LLC purchased a new position in shares of Hooker Furnishings in the 4th quarter worth approximately $117,000. Strs Ohio purchased a new position in shares of Hooker Furnishings in the 1st quarter worth approximately $124,000. LPL Financial LLC grew its position in shares of Hooker Furnishings by 16.6% in the 4th quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock worth $132,000 after buying an additional 1,660 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Hooker Furnishings in the 1st quarter worth approximately $146,000. Hedge funds and other institutional investors own 73.60% of the company’s stock.

Hooker Furnishings Stock Performance

Shares of NASDAQ HOFT opened at $12.33 on Thursday. The company has a current ratio of 3.37, a quick ratio of 1.60 and a debt-to-equity ratio of 0.02. Hooker Furnishings Corp. has a 12 month low of $8.61 and a 12 month high of $15.99. The company has a 50 day simple moving average of $12.99 and a two-hundred day simple moving average of $12.64. 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 (NASDAQ:HOFT) last announced its quarterly earnings data on Thursday, April 16th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. Hooker Furnishings had a negative net margin of 8.84% and a negative return on equity of 0.71%. The business had revenue of $66.98 million during the quarter, compared to analysts’ expectations of $74.89 million. As a group, analysts predict that Hooker Furnishings Corp. will post 0.67 earnings per share for the current year.

Hooker Furnishings Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 19th will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 3.7%. The ex-dividend date is Thursday, June 18th. Hooker Furnishings’s payout ratio is presently -18.11%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on HOFT shares. Wall Street Zen raised shares of Hooker Furnishings from a “sell” rating to a “hold” rating in a research report on Sunday, April 19th. Zacks Research raised shares of Hooker Furnishings from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Finally, Weiss Ratings cut shares of Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 18th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

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.