Fifth Third Wealth Advisors LLC Acquires New Shares in Hooker Furnishings Corp. $HOFT

Fifth Third Wealth Advisors LLC acquired a new position in shares of Hooker Furnishings Corp. (NASDAQ:HOFT) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 51,667 shares of the company’s stock, valued at approximately $665,000. Fifth Third Wealth Advisors LLC owned approximately 0.48% of Hooker Furnishings as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Osaic Holdings Inc. grew its holdings in Hooker Furnishings by 940.0% during the 2nd 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 in the last quarter. Cerity Partners LLC purchased a new stake in shares of Hooker Furnishings in the fourth quarter worth about $117,000. Strs Ohio purchased a new stake in shares of Hooker Furnishings in the first quarter worth about $124,000. LPL Financial LLC boosted its position 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 valued at $132,000 after acquiring an additional 1,660 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Hooker Furnishings in the first quarter valued at approximately $146,000. Institutional investors own 73.60% of the company’s stock.

Hooker Furnishings Stock Down 0.3%

NASDAQ:HOFT opened at $17.10 on Friday. The stock has a market cap of $183.65 million, a P/E ratio of -7.95, a PEG ratio of 1.57 and a beta of 1.19. The business’s 50-day moving average price is $13.53 and its two-hundred day moving average price is $13.07. Hooker Furnishings Corp. has a twelve month low of $8.61 and a twelve month high of $17.65.

Hooker Furnishings (NASDAQ:HOFT) last posted its quarterly earnings data on Thursday, June 11th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.17. The company had revenue of $69.45 million for the quarter, compared to analysts’ expectations of $66.31 million. Hooker Furnishings had a negative net margin of 7.90% and a positive return on equity of 1.61%. On average, equities research analysts expect that Hooker Furnishings Corp. will post 0.78 EPS for the current fiscal year.

Hooker Furnishings Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 19th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, June 18th. Hooker Furnishings’s payout ratio is currently -21.40%.

Analysts Set New Price Targets

A number of analysts recently weighed in on HOFT shares. Wall Street Zen raised shares of Hooker Furnishings from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Weiss Ratings downgraded shares of Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 18th. Finally, Zacks Research upgraded shares of Hooker Furnishings from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Hooker Furnishings has an average rating of “Moderate Buy”.

Hooker Furnishings 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.