Hooker Furnishings Co. (NASDAQ:HOFT) Stake Lowered by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. trimmed its position in shares of Hooker Furnishings Co. (NASDAQ:HOFT) by 7.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,051,153 shares of the company’s stock after selling 89,530 shares during the quarter. Donald Smith & CO. Inc. owned about 0.10% of Hooker Furnishings worth $15,221,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. EntryPoint Capital LLC purchased a new stake in shares of Hooker Furnishings during the 1st quarter worth about $77,000. Virtus Investment Advisers Inc. bought a new position in Hooker Furnishings during the first quarter valued at approximately $106,000. Acadian Asset Management LLC acquired a new stake in Hooker Furnishings in the first quarter valued at approximately $107,000. BNP Paribas Financial Markets grew its position in Hooker Furnishings by 71.8% in the first quarter. BNP Paribas Financial Markets now owns 5,191 shares of the company’s stock worth $125,000 after acquiring an additional 2,170 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Hooker Furnishings during the 4th quarter worth $172,000. Institutional investors and hedge funds own 73.63% of the company’s stock.

Hooker Furnishings Trading Up 4.0 %

HOFT stock opened at $16.32 on Monday. The firm has a market cap of $174.33 million, a PE ratio of 41.85 and a beta of 1.18. Hooker Furnishings Co. has a 1 year low of $13.09 and a 1 year high of $27.15. The company has a fifty day simple moving average of $15.08 and a 200 day simple moving average of $17.42.

Hooker Furnishings (NASDAQ:HOFT) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). The company had revenue of $95.08 million during the quarter, compared to analyst estimates of $93.54 million. Hooker Furnishings had a return on equity of 0.72% and a net margin of 0.40%. During the same period in the prior year, the firm earned $0.07 EPS. As a group, analysts forecast that Hooker Furnishings Co. will post -0.25 EPS for the current fiscal year.

Hooker Furnishings Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, September 13th. This represents a $0.92 dividend on an annualized basis and a yield of 5.64%. Hooker Furnishings’s payout ratio is currently 235.90%.

Insider Buying and Selling at Hooker Furnishings

In other news, Director Tonya Harris Jackson acquired 1,850 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was acquired at an average cost of $13.61 per share, with a total value of $25,178.50. Following the acquisition, the director now owns 25,229 shares in the company, valued at $343,366.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.70% of the company’s stock.

Hooker Furnishings Company Profile

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.