Los Angeles Capital Management LLC Lowers Holdings in Hooker Furnishings Co. (NASDAQ:HOFT)

Los Angeles Capital Management LLC lowered its holdings in Hooker Furnishings Co. (NASDAQ:HOFT) by 16.3% during the third quarter, Holdings Channel.com reports. The firm owned 65,870 shares of the company’s stock after selling 12,815 shares during the period. Los Angeles Capital Management LLC’s holdings in Hooker Furnishings were worth $1,191,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Copeland Capital Management LLC acquired a new stake in shares of Hooker Furnishings during the third quarter worth about $37,000. Acadian Asset Management LLC grew its stake in shares of Hooker Furnishings by 15.7% during the second quarter. Acadian Asset Management LLC now owns 5,179 shares of the company’s stock worth $74,000 after purchasing an additional 703 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Hooker Furnishings in the first quarter valued at $77,000. Virtus Investment Advisers Inc. acquired a new stake in Hooker Furnishings in the first quarter valued at $106,000. Finally, BNP Paribas Financial Markets lifted its holdings in Hooker Furnishings by 71.8% during the 1st quarter. BNP Paribas Financial Markets now owns 5,191 shares of the company’s stock worth $125,000 after buying an additional 2,170 shares during the last quarter. Institutional investors and hedge funds own 73.63% of the company’s stock.

Hooker Furnishings Stock Up 1.4 %

Shares of Hooker Furnishings stock opened at $18.40 on Friday. The firm has a market capitalization of $197.06 million, a P/E ratio of 141.55 and a beta of 1.19. Hooker Furnishings Co. has a 52 week low of $13.09 and a 52 week high of $27.15. The firm’s 50 day moving average is $16.99 and its two-hundred day moving average is $16.04.

Hooker Furnishings (NASDAQ:HOFT) last announced its earnings results on Thursday, September 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). The firm had revenue of $95.08 million during the quarter, compared to analyst estimates of $93.54 million. Hooker Furnishings had a net margin of 0.40% and a return on equity of 0.72%. During the same period last year, the company earned $0.07 earnings per share. As a group, research analysts expect that Hooker Furnishings Co. will post -0.37 earnings per share for the current fiscal year.

Hooker Furnishings Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.23 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.92 annualized dividend and a dividend yield of 5.00%. Hooker Furnishings’s dividend payout ratio (DPR) is currently 707.75%.

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.