Los Angeles Capital Management LLC Grows Stock Position in Hooker Furnishings Co. (NASDAQ:HOFT)

Los Angeles Capital Management LLC raised its stake in shares of Hooker Furnishings Co. (NASDAQ:HOFT) by 747.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 89,088 shares of the company’s stock after buying an additional 78,576 shares during the period. Los Angeles Capital Management LLC owned about 0.83% of Hooker Furnishings worth $2,139,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC raised its stake in shares of Hooker Furnishings by 18.5% during the 4th quarter. SG Americas Securities LLC now owns 7,262 shares of the company’s stock valued at $189,000 after buying an additional 1,135 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Hooker Furnishings by 66.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,045 shares of the company’s stock valued at $79,000 after buying an additional 1,618 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of Hooker Furnishings during the 4th quarter valued at about $172,000. Baron Wealth Management LLC purchased a new position in shares of Hooker Furnishings during the 4th quarter valued at about $207,000. Finally, Bailard Inc. purchased a new position in shares of Hooker Furnishings in the 4th quarter valued at about $243,000. Hedge funds and other institutional investors own 73.63% of the company’s stock.

Hooker Furnishings Stock Up 1.3 %

Shares of Hooker Furnishings stock opened at $13.51 on Friday. Hooker Furnishings Co. has a twelve month low of $13.21 and a twelve month high of $27.15. The business has a 50-day moving average price of $16.87 and a 200 day moving average price of $21.48. The firm has a market cap of $144.29 million, a PE ratio of 34.64, a P/E/G ratio of 10.72 and a beta of 1.12.

Hooker Furnishings (NASDAQ:HOFT) last announced its quarterly earnings results on Thursday, June 6th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.36). Hooker Furnishings had a net margin of 1.07% and a return on equity of 1.92%. The business had revenue of $93.57 million during the quarter, compared to analysts’ expectations of $94.94 million. On average, sell-side analysts expect that Hooker Furnishings Co. will post 0.09 EPS for the current year.

Hooker Furnishings Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.92 annualized dividend and a yield of 6.81%. Hooker Furnishings’s dividend payout ratio (DPR) is currently 235.90%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Hooker Furnishings from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th.

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.