First Eagle Investment Management LLC Boosts Stock Position in Hooker Furnishings Co. (NASDAQ:HOFT)

First Eagle Investment Management LLC raised its stake in Hooker Furnishings Co. (NASDAQ:HOFT) by 95.5% during the 4th quarter, HoldingsChannel reports. The firm owned 113,909 shares of the company’s stock after acquiring an additional 55,629 shares during the period. First Eagle Investment Management LLC’s holdings in Hooker Furnishings were worth $1,596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of HOFT. Pzena Investment Management LLC increased its stake in Hooker Furnishings by 3.8% in the 4th quarter. Pzena Investment Management LLC now owns 1,335,593 shares of the company’s stock valued at $18,712,000 after buying an additional 49,212 shares during the period. Oak Hill Wealth Advisors LLC purchased a new stake in shares of Hooker Furnishings in the fourth quarter valued at approximately $145,000. Charles Schwab Investment Management Inc. raised its position in Hooker Furnishings by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,531 shares of the company’s stock worth $442,000 after acquiring an additional 1,900 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Hooker Furnishings by 27.7% in the fourth quarter. Bank of New York Mellon Corp now owns 89,658 shares of the company’s stock valued at $1,256,000 after acquiring an additional 19,459 shares during the period. Finally, Azarias Capital Management L.P. boosted its position in shares of Hooker Furnishings by 10.3% during the 4th quarter. Azarias Capital Management L.P. now owns 754,328 shares of the company’s stock worth $10,568,000 after purchasing an additional 70,281 shares in the last quarter. Institutional investors and hedge funds own 73.63% of the company’s stock.

Hooker Furnishings Stock Performance

NASDAQ HOFT opened at $12.17 on Monday. The business has a 50 day moving average price of $12.98 and a 200 day moving average price of $15.39. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.16 and a quick ratio of 1.76. The company has a market capitalization of $130.34 million, a P/E ratio of -13.37, a PEG ratio of 0.85 and a beta of 1.16. Hooker Furnishings Co. has a 1-year low of $12.06 and a 1-year high of $24.18.

Hooker Furnishings Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.23 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.92 annualized dividend and a dividend yield of 7.56%. Hooker Furnishings’s dividend payout ratio is presently -101.10%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Hooker Furnishings from a “hold” rating to a “sell” rating in a report on Friday, February 28th.

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.