First Eagle Investment Management LLC Acquires 47,559 Shares of Hooker Furnishings Corp. $HOFT

First Eagle Investment Management LLC lifted its stake in Hooker Furnishings Corp. (NASDAQ:HOFT) by 15.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 364,973 shares of the company’s stock after purchasing an additional 47,559 shares during the period. First Eagle Investment Management LLC owned about 3.40% of Hooker Furnishings worth $3,704,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Empowered Funds LLC boosted its position in Hooker Furnishings by 7.2% in the 1st quarter. Empowered Funds LLC now owns 55,319 shares of the company’s stock valued at $555,000 after buying an additional 3,696 shares during the period. Jane Street Group LLC purchased a new stake in shares of Hooker Furnishings in the first quarter valued at approximately $146,000. Strs Ohio purchased a new stake in shares of Hooker Furnishings in the first quarter valued at approximately $124,000. Y Intercept Hong Kong Ltd bought a new position in Hooker Furnishings in the second quarter worth approximately $265,000. Finally, Moors & Cabot Inc. increased its holdings in Hooker Furnishings by 51.9% during the 2nd quarter. Moors & Cabot Inc. now owns 74,450 shares of the company’s stock worth $788,000 after purchasing an additional 25,450 shares during the period. Institutional investors own 73.60% of the company’s stock.

Hooker Furnishings Price Performance

HOFT opened at $13.53 on Thursday. The firm has a market capitalization of $145.85 million, a PE ratio of -4.81, a price-to-earnings-growth ratio of 1.09 and a beta of 1.35. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.67 and a quick ratio of 1.35. The business’s 50-day moving average is $13.23 and its two-hundred day moving average is $11.22. Hooker Furnishings Corp. has a 1 year low of $7.34 and a 1 year high of $15.99.

Hooker Furnishings (NASDAQ:HOFT) last released its quarterly earnings results on Thursday, December 11th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of ($0.15) by $0.54. Hooker Furnishings had a negative net margin of 8.71% and a negative return on equity of 1.07%. The business had revenue of $70.73 million during the quarter, compared to analyst estimates of $85.50 million. Research analysts anticipate that Hooker Furnishings Corp. will post -0.44 earnings per share for the current fiscal year.

Hooker Furnishings Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Sunday, December 21st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, December 19th. Hooker Furnishings’s payout ratio is currently -16.37%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HOFT shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Hooker Furnishings in a report on Thursday, January 22nd. Wall Street Zen raised shares of Hooker Furnishings from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Zacks Research downgraded shares of Hooker Furnishings from a “hold” rating to a “strong sell” rating in a research report on Monday, February 2nd. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Hooker Furnishings Company Profile

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.