Geode Capital Management LLC Purchases 2,493 Shares of Hooker Furnishings Co. (NASDAQ:HOFT)

Geode Capital Management LLC lifted its holdings in Hooker Furnishings Co. (NASDAQ:HOFT) by 1.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 241,310 shares of the company’s stock after buying an additional 2,493 shares during the quarter. Geode Capital Management LLC’s holdings in Hooker Furnishings were worth $4,364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of HOFT. Acadian Asset Management LLC increased its stake in Hooker Furnishings by 15.7% in the second quarter. Acadian Asset Management LLC now owns 5,179 shares of the company’s stock worth $74,000 after purchasing an additional 703 shares during the period. Copeland Capital Management LLC bought a new stake in Hooker Furnishings during the 3rd quarter valued at about $37,000. Empowered Funds LLC boosted its position in Hooker Furnishings by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 49,188 shares of the company’s stock valued at $889,000 after buying an additional 2,412 shares during the period. Bank of New York Mellon Corp increased its position in shares of Hooker Furnishings by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 78,249 shares of the company’s stock worth $1,133,000 after acquiring an additional 2,452 shares during the period. Finally, Stifel Financial Corp increased its holdings in Hooker Furnishings by 9.5% during the 3rd quarter. Stifel Financial Corp now owns 44,003 shares of the company’s stock worth $796,000 after purchasing an additional 3,827 shares during the period. 73.63% of the stock is owned by institutional investors.

Hooker Furnishings Trading Down 0.9 %

NASDAQ HOFT opened at $13.38 on Monday. The company has a market capitalization of $143.30 million, a price-to-earnings ratio of -14.70 and a beta of 1.26. Hooker Furnishings Co. has a one year low of $13.00 and a one year high of $25.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.46 and a current ratio of 3.16. The company’s 50-day simple moving average is $16.73 and its two-hundred day simple moving average is $15.96.

Hooker Furnishings Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 6.88%. The ex-dividend date was Friday, December 13th. Hooker Furnishings’s payout ratio is -101.10%.

Insider Activity at Hooker Furnishings

In other news, Director Paulette Garafalo sold 2,489 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $17.10, for a total transaction of $42,561.90. Following the sale, the director now owns 20,783 shares in the company, valued at approximately $355,389.30. The trade was a 10.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Hooker Furnishings from a “sell” rating to a “hold” rating in a research report on Monday, December 30th.

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.