1,542,623 Shares in Hooker Furnishings Corp. $HOFT Purchased by Pzena Investment Management LLC

Pzena Investment Management LLC purchased a new stake in Hooker Furnishings Corp. (NASDAQ:HOFT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,542,623 shares of the company’s stock, valued at approximately $27,505,000. Pzena Investment Management LLC owned approximately 0.14% of Hooker Furnishings as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Fifth Third Wealth Advisors LLC bought a new position in shares of Hooker Furnishings in the first quarter valued at approximately $665,000. Gate City Capital Management LLC bought a new stake in Hooker Furnishings during the fourth quarter worth $2,472,000. Donald Smith & CO. Inc. raised its position in Hooker Furnishings by 7.1% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,066,754 shares of the company’s stock valued at $12,044,000 after buying an additional 70,681 shares during the last quarter. Peapod Lane Capital LLC raised its position in Hooker Furnishings by 5.0% in the 4th quarter. Peapod Lane Capital LLC now owns 185,982 shares of the company’s stock valued at $2,100,000 after buying an additional 8,899 shares during the last quarter. Finally, PDT Partners LLC bought a new position in Hooker Furnishings during the 2nd quarter valued at $190,000. Institutional investors and hedge funds own 73.60% of the company’s stock.

Hooker Furnishings Stock Down 1.7%

HOFT stock opened at $14.42 on Tuesday. The firm has a market cap of $154.87 million, a PE ratio of -6.71, a P/E/G ratio of 1.36 and a beta of 1.13. The business has a 50 day moving average of $15.15 and a 200-day moving average of $13.93. Hooker Furnishings Corp. has a 12-month low of $8.61 and a 12-month high of $18.09.

Hooker Furnishings (NASDAQ:HOFT) last issued its quarterly earnings results on Thursday, June 11th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.17. Hooker Furnishings had a positive return on equity of 1.61% and a negative net margin of 7.90%.The business had revenue of $69.45 million for the quarter, compared to analyst estimates of $66.31 million. On average, research analysts expect that Hooker Furnishings Corp. will post 0.77 earnings per share for the current year.

Hooker Furnishings Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HOFT shares. Wall Street Zen downgraded shares of Hooker Furnishings from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Zacks Research downgraded shares of Hooker Furnishings from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings lowered shares of Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Hooker Furnishings currently has an average rating of “Reduce”.

About Hooker Furnishings

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.