Hooker Furnishings Corp. (NASDAQ:HOFT) Plans Quarterly Dividend of $0.12

Hooker Furnishings Corp. (NASDAQ:HOFT) declared a quarterly dividend on Thursday, March 5th. Shareholders of record on Monday, March 16th will be paid a dividend of 0.115 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, March 16th.

Hooker Furnishings has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 9 consecutive years. Hooker Furnishings has a payout ratio of 34.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Hooker Furnishings to earn $1.10 per share next year, which means the company should continue to be able to cover its $0.46 annual dividend with an expected future payout ratio of 41.8%.

Hooker Furnishings Stock Performance

Hooker Furnishings stock opened at $13.07 on Friday. The company’s 50-day moving average price is $13.49 and its 200-day moving average price is $11.36. The company has a quick ratio of 1.35, a current ratio of 2.67 and a debt-to-equity ratio of 0.02. The company has a market cap of $140.89 million, a PE ratio of -4.65, a price-to-earnings-growth ratio of 1.04 and a beta of 1.35. Hooker Furnishings has a twelve month low of $7.34 and a twelve month high of $15.99.

Hooker Furnishings (NASDAQ:HOFT) last announced its quarterly earnings results on Thursday, December 11th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.54. The firm had revenue of $70.73 million during the quarter, compared to the consensus estimate of $85.50 million. Hooker Furnishings had a negative net margin of 8.71% and a negative return on equity of 1.07%. On average, equities research analysts forecast that Hooker Furnishings will post -0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Hooker Furnishings

Several hedge funds have recently added to or reduced their stakes in the company. Cerity Partners LLC bought a new stake in Hooker Furnishings in the fourth quarter worth about $117,000. Osaic Holdings Inc. grew its stake in shares of Hooker Furnishings by 940.0% during the second quarter. Osaic Holdings Inc. now owns 10,400 shares of the company’s stock valued at $110,000 after buying an additional 9,400 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Hooker Furnishings by 16.6% in the fourth quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock worth $132,000 after buying an additional 1,660 shares during the period. Strs Ohio purchased a new stake in shares of Hooker Furnishings in the first quarter worth approximately $124,000. Finally, Jane Street Group LLC bought a new stake in shares of Hooker Furnishings during the 1st quarter worth approximately $146,000. 73.60% of the stock is currently owned by institutional investors.

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.