Donald Smith & CO. Inc. Purchases New Stake in Hooker Furnishings Corp. $HOFT

Donald Smith & CO. Inc. acquired a new position in shares of Hooker Furnishings Corp. (NASDAQ:HOFT) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 952,422 shares of the company’s stock, valued at approximately $16,982,000. Donald Smith & CO. Inc. owned 0.09% of Hooker Furnishings at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in Hooker Furnishings by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 120,645 shares of the company’s stock worth $1,363,000 after buying an additional 1,100 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Hooker Furnishings by 6.0% during the 1st quarter. Royal Bank of Canada now owns 21,383 shares of the company’s stock worth $276,000 after acquiring an additional 1,218 shares during the period. LPL Financial LLC lifted 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 worth $132,000 after acquiring an additional 1,660 shares during the period. Empowered Funds LLC boosted its position in shares of Hooker Furnishings by 10.6% during the 1st quarter. Empowered Funds LLC now owns 28,696 shares of the company’s stock worth $370,000 after acquiring an additional 2,747 shares in the last quarter. Finally, State of Wyoming bought a new position in Hooker Furnishings in the second quarter valued at approximately $73,000. 73.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on HOFT. Weiss Ratings downgraded shares of Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Zacks Research downgraded Hooker Furnishings from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Finally, Wall Street Zen lowered Hooker Furnishings from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Hooker Furnishings presently has an average rating of “Reduce”.

Hooker Furnishings Trading Up 1.0%

HOFT stock opened at $14.47 on Friday. The firm has a 50-day moving average price of $15.20 and a 200-day moving average price of $13.96. Hooker Furnishings Corp. has a 12 month low of $8.61 and a 12 month high of $18.09. The stock has a market capitalization of $155.44 million, a P/E ratio of -6.73, a price-to-earnings-growth ratio of 1.33 and a beta of 1.13.

Hooker Furnishings (NASDAQ:HOFT) last announced its quarterly earnings results on Thursday, June 11th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.17. The company 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%. As a group, equities analysts predict that Hooker Furnishings Corp. will post 0.77 EPS for the current fiscal year.

Hooker Furnishings Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 19th were given a $0.115 dividend. The ex-dividend date was Thursday, June 18th. This represents a $0.46 dividend on an annualized basis and a yield of 3.2%. Hooker Furnishings’s dividend payout ratio (DPR) is currently -21.40%.

Hooker Furnishings Company Profile

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.