Goldman Sachs Group Inc. Has $443,000 Position in Hooker Furnishings Corp. $HOFT

Goldman Sachs Group Inc. lowered its position in Hooker Furnishings Corp. (NASDAQ:HOFT) by 12.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,098 shares of the company’s stock after selling 6,240 shares during the period. Goldman Sachs Group Inc. owned 0.41% of Hooker Furnishings worth $443,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Foundry Partners LLC increased its stake in shares of Hooker Furnishings by 11.9% during the 1st quarter. Foundry Partners LLC now owns 112,380 shares of the company’s stock worth $1,128,000 after purchasing an additional 11,925 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Hooker Furnishings by 250.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 110,471 shares of the company’s stock worth $1,109,000 after buying an additional 78,940 shares during the last quarter. Paradigm Capital Management Inc. NY acquired a new position in Hooker Furnishings during the first quarter worth $803,000. Waterfront Wealth Inc. increased its position in 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 buying an additional 46,678 shares during the last quarter. Finally, Empowered Funds LLC increased its position in Hooker Furnishings by 7.2% during the first quarter. Empowered Funds LLC now owns 55,319 shares of the company’s stock worth $555,000 after buying an additional 3,696 shares during the last quarter. Institutional investors and hedge funds own 73.60% of the company’s stock.

Hooker Furnishings Price Performance

Shares of Hooker Furnishings stock opened at $11.27 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 2.99. The firm’s 50-day simple moving average is $10.28 and its 200-day simple moving average is $10.15. The firm has a market cap of $121.15 million, a P/E ratio of -9.31 and a beta of 1.32. Hooker Furnishings Corp. has a twelve month low of $7.34 and a twelve month high of $19.79.

Hooker Furnishings (NASDAQ:HOFT) last announced its quarterly earnings results on Thursday, September 11th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.19). Hooker Furnishings had a negative net margin of 3.40% and a negative return on equity of 4.17%. The company had revenue of $82.15 million during the quarter, compared to analyst estimates of $91.21 million. During the same period in the prior year, the firm earned ($0.19) EPS. As a group, research analysts expect that Hooker Furnishings Corp. will post -0.44 EPS for the current fiscal year.

Hooker Furnishings Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 19th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, September 19th. This represents a $0.92 annualized dividend and a yield of 8.2%. Hooker Furnishings’s dividend payout ratio is -76.03%.

Analyst Upgrades and Downgrades

Separately, Zacks Research lowered Hooker Furnishings from a “hold” rating to a “strong sell” rating in a report on Friday, September 12th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

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.