Hooker Furnishings Corp. (NASDAQ:HOFT) Plans $0.12 Quarterly Dividend

Hooker Furnishings Corp. (NASDAQ:HOFT) announced a quarterly dividend on Thursday, September 3rd. Investors of record on Tuesday, September 15th will be given a dividend of 0.115 per share on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 15th.

Hooker Furnishings has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 9 years. Hooker Furnishings has a payout ratio of 34.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Hooker Furnishings to earn $1.34 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 34.3%.

Hooker Furnishings Stock Down 0.9%

HOFT stock opened at $12.66 on Friday. The stock has a market capitalization of $135.97 million, a PE ratio of -5.89, a price-to-earnings-growth ratio of 1.19 and a beta of 1.14. Hooker Furnishings has a 52 week low of $8.61 and a 52 week high of $18.09. The firm has a 50 day moving average of $14.67 and a 200 day moving average of $13.86.

Hooker Furnishings (NASDAQ:HOFT) last issued its quarterly earnings results on Thursday, June 11th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.17. The business had revenue of $69.45 million for the quarter, compared to analyst estimates of $66.31 million. Hooker Furnishings had a negative net margin of 7.90% and a positive return on equity of 1.61%. On average, equities research analysts expect that Hooker Furnishings will post 0.77 earnings per share for the current year.

Institutional Trading of Hooker Furnishings

A number of hedge funds have recently modified their holdings of HOFT. State of Wyoming purchased a new position in Hooker Furnishings during the second quarter valued at approximately $73,000. Osaic Holdings Inc. boosted its position in 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 purchasing an additional 9,400 shares in the last quarter. Cerity Partners LLC purchased a new stake in Hooker Furnishings in the 4th quarter worth approximately $117,000. Strs Ohio purchased a new position in shares of Hooker Furnishings during the 1st quarter valued at approximately $124,000. Finally, LPL Financial LLC increased its holdings in shares of Hooker Furnishings by 16.6% during the 4th quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock valued at $132,000 after purchasing an additional 1,660 shares in the last quarter. Hedge funds and other institutional investors own 73.60% of the company’s stock.

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.