Hooker Furnishings Co. (NASDAQ:HOFT) is Azarias Capital Management L.P.’s 9th Largest Position

Azarias Capital Management L.P. increased its stake in shares of Hooker Furnishings Co. (NASDAQ:HOFT) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 754,328 shares of the company’s stock after buying an additional 70,281 shares during the quarter. Hooker Furnishings comprises 4.7% of Azarias Capital Management L.P.’s holdings, making the stock its 9th largest position. Azarias Capital Management L.P. owned 7.04% of Hooker Furnishings worth $10,568,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HOFT. Peapod Lane Capital LLC purchased a new position in Hooker Furnishings during the fourth quarter worth about $1,893,000. Empowered Funds LLC raised its position in shares of Hooker Furnishings by 5.0% during the 4th quarter. Empowered Funds LLC now owns 51,623 shares of the company’s stock valued at $723,000 after buying an additional 2,435 shares during the period. JPMorgan Chase & Co. raised its position in shares of Hooker Furnishings by 107.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,688 shares of the company’s stock valued at $790,000 after buying an additional 22,635 shares during the period. Barclays PLC lifted its holdings in Hooker Furnishings by 270.4% in the third quarter. Barclays PLC now owns 15,463 shares of the company’s stock valued at $279,000 after acquiring an additional 11,288 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Hooker Furnishings by 1.0% in the third quarter. Geode Capital Management LLC now owns 241,310 shares of the company’s stock worth $4,364,000 after acquiring an additional 2,493 shares during the period. Institutional investors and hedge funds own 73.63% of the company’s stock.

Hooker Furnishings Stock Performance

NASDAQ:HOFT opened at $13.13 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.76 and a current ratio of 3.16. The company has a 50 day moving average price of $14.06 and a 200 day moving average price of $15.70. Hooker Furnishings Co. has a fifty-two week low of $12.06 and a fifty-two week high of $25.80. The stock has a market capitalization of $140.62 million, a P/E ratio of -14.43, a PEG ratio of 0.85 and a beta of 1.25.

Hooker Furnishings (NASDAQ:HOFT) last posted its quarterly earnings data on Thursday, December 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.22). Hooker Furnishings had a negative net margin of 2.46% and a negative return on equity of 3.51%. Equities research analysts forecast that Hooker Furnishings Co. will post -0.44 EPS for the current year.

Hooker Furnishings Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a dividend of $0.23 per share. The ex-dividend date was Friday, December 13th. This represents a $0.92 annualized dividend and a dividend yield of 7.01%. Hooker Furnishings’s dividend payout ratio is presently -101.10%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Hooker Furnishings from a “hold” rating to a “sell” rating in a report on Wednesday.

Insider Activity

In other news, Director Paulette Garafalo sold 2,489 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $17.10, for a total value of $42,561.90. Following the sale, the director now directly owns 20,783 shares in the company, valued at approximately $355,389.30. This trade represents 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 the SEC website. Insiders own 1.70% of the company’s stock.

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.