Bank of New York Mellon Corp Decreases Stock Holdings in Hooker Furnishings Corp. (NASDAQ:HOFT)

Bank of New York Mellon Corp lessened its holdings in Hooker Furnishings Corp. (NASDAQ:HOFT) by 3.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,469 shares of the company’s stock after selling 3,189 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.81% of Hooker Furnishings worth $868,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Northern Trust Corp boosted its holdings in shares of Hooker Furnishings by 0.5% in the 4th quarter. Northern Trust Corp now owns 170,582 shares of the company’s stock valued at $2,390,000 after buying an additional 889 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in Hooker Furnishings by 1.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 129,987 shares of the company’s stock valued at $1,821,000 after acquiring an additional 1,535 shares during the last quarter. Foundry Partners LLC boosted its stake in Hooker Furnishings by 16.6% in the fourth quarter. Foundry Partners LLC now owns 100,455 shares of the company’s stock valued at $1,407,000 after acquiring an additional 14,300 shares in the last quarter. Waterfront Wealth Inc. grew its holdings in shares of Hooker Furnishings by 151.6% during the first quarter. Waterfront Wealth Inc. now owns 77,462 shares of the company’s stock worth $778,000 after purchasing an additional 46,678 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Hooker Furnishings by 36.1% during the fourth quarter. JPMorgan Chase & Co. now owns 59,467 shares of the company’s stock worth $833,000 after purchasing an additional 15,779 shares in the last quarter. Hedge funds and other institutional investors own 73.63% of the company’s stock.

Hooker Furnishings Stock Performance

Shares of Hooker Furnishings stock opened at $9.08 on Friday. The firm’s fifty day simple moving average is $10.64 and its 200-day simple moving average is $10.92. Hooker Furnishings Corp. has a 12 month low of $7.34 and a 12 month high of $19.79. The stock has a market capitalization of $97.16 million, a price-to-earnings ratio of -8.33, a PEG ratio of 5.19 and a beta of 1.35. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.94 and a quick ratio of 1.96.

Hooker Furnishings (NASDAQ:HOFT) last announced its earnings results on Thursday, June 12th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.13). Hooker Furnishings had a negative net margin of 2.95% and a negative return on equity of 3.41%. The business had revenue of $85.32 million during the quarter, compared to analysts’ expectations of $88.87 million. As a group, equities analysts forecast that Hooker Furnishings Corp. will post -0.44 earnings per share for the current year.

Hooker Furnishings Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 10.1%. The ex-dividend date was Monday, June 16th. Hooker Furnishings’s dividend payout ratio (DPR) is -84.40%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Hooker Furnishings from a “hold” rating to a “sell” rating in a research report on Sunday, April 20th.

Hooker Furnishings Company 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.