Ameriprise Financial Inc. Lowers Stake in Hooker Furniture Co. (NASDAQ:HOFT)

Ameriprise Financial Inc. trimmed its holdings in Hooker Furniture Co. (NASDAQ:HOFT) by 13.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 102,861 shares of the company’s stock after selling 15,768 shares during the period. Ameriprise Financial Inc. owned 0.89% of Hooker Furniture worth $4,912,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in HOFT. Morgan Dempsey Capital Management LLC raised its holdings in Hooker Furniture by 5.3% during the third quarter. Morgan Dempsey Capital Management LLC now owns 28,132 shares of the company’s stock worth $1,308,000 after purchasing an additional 1,422 shares in the last quarter. Prudential Financial Inc. raised its holdings in Hooker Furniture by 167.8% during the third quarter. Prudential Financial Inc. now owns 19,040 shares of the company’s stock worth $909,000 after purchasing an additional 11,930 shares in the last quarter. Tygh Capital Management Inc. raised its holdings in Hooker Furniture by 29.0% during the third quarter. Tygh Capital Management Inc. now owns 113,393 shares of the company’s stock worth $5,415,000 after purchasing an additional 25,477 shares in the last quarter. IndexIQ Advisors LLC raised its holdings in Hooker Furniture by 83.2% during the third quarter. IndexIQ Advisors LLC now owns 27,914 shares of the company’s stock worth $1,333,000 after purchasing an additional 12,679 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Hooker Furniture by 96.0% during the third quarter. American Century Companies Inc. now owns 48,979 shares of the company’s stock worth $2,339,000 after buying an additional 23,989 shares during the period. 85.14% of the stock is owned by institutional investors and hedge funds.

Separately, BidaskClub lowered shares of Hooker Furniture from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th.

In other news, insider Michael W. Delgatti sold 6,847 shares of the stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $42.53, for a total value of $291,202.91. Following the sale, the insider now directly owns 17,972 shares in the company, valued at $764,349.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.90% of the company’s stock.

Hooker Furniture Co. (HOFT) opened at $42.00 on Monday. The company has a current ratio of 3.53, a quick ratio of 2.07 and a debt-to-equity ratio of 0.21. Hooker Furniture Co. has a 1 year low of $29.75 and a 1 year high of $52.75. The firm has a market cap of $494.00, a PE ratio of 15.91 and a beta of 0.65.

Hooker Furniture (NASDAQ:HOFT) last issued its earnings results on Thursday, December 7th. The company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.04). Hooker Furniture had a return on equity of 14.89% and a net margin of 4.96%. The company had revenue of $157.90 million for the quarter, compared to analyst estimates of $160.02 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 18th were given a dividend of $0.14 per share. This is a positive change from Hooker Furniture’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Friday, December 15th. Hooker Furniture’s dividend payout ratio is presently 21.21%.

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About Hooker Furniture

Hooker Furniture Corporation is a home furnishings marketing, design and logistics company offering sourcing of residential casegoods and upholstery, as well as domestically-produced leather and fabric-upholstered furniture. The Company operates through three segments: casegoods furniture, upholstered furniture and all other.

Institutional Ownership by Quarter for Hooker Furniture (NASDAQ:HOFT)

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