Bank of New York Mellon Corp Acquires 2,452 Shares of Hooker Furnishings Co. (NASDAQ:HOFT)

Bank of New York Mellon Corp boosted its holdings in Hooker Furnishings Co. (NASDAQ:HOFT) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,249 shares of the company’s stock after purchasing an additional 2,452 shares during the period. Bank of New York Mellon Corp owned about 0.73% of Hooker Furnishings worth $1,133,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Atlantic Union Bankshares Corp acquired a new position in Hooker Furnishings during the second quarter valued at approximately $198,000. Virtus Investment Advisers Inc. acquired a new stake in shares of Hooker Furnishings in the 1st quarter valued at approximately $106,000. EntryPoint Capital LLC bought a new position in shares of Hooker Furnishings in the first quarter valued at $77,000. Acadian Asset Management LLC acquired a new position in Hooker Furnishings during the first quarter worth $107,000. Finally, Foundry Partners LLC bought a new stake in Hooker Furnishings during the first quarter worth $869,000. 73.63% of the stock is currently owned by institutional investors and hedge funds.

Hooker Furnishings Price Performance

Hooker Furnishings stock opened at $18.03 on Friday. Hooker Furnishings Co. has a fifty-two week low of $13.09 and a fifty-two week high of $27.15. The firm has a market capitalization of $192.60 million, a PE ratio of 46.23 and a beta of 1.18. The company’s 50-day moving average is $15.43 and its 200-day moving average is $17.34.

Hooker Furnishings (NASDAQ:HOFT) last posted 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). Hooker Furnishings had a net margin of 0.40% and a return on equity of 0.72%. The business had revenue of $95.08 million during the quarter, compared to the consensus estimate of $93.54 million. During the same quarter last year, the company posted $0.07 EPS. As a group, analysts expect that Hooker Furnishings Co. will post -0.25 EPS for the current year.

Hooker Furnishings Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date is Friday, September 13th. Hooker Furnishings’s dividend payout ratio is presently 235.90%.

Hooker Furnishings 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.