Peapod Lane Capital LLC Makes New $1.89 Million Investment in Hooker Furnishings Co. (NASDAQ:HOFT)

Peapod Lane Capital LLC purchased a new stake in Hooker Furnishings Co. (NASDAQ:HOFT) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 135,099 shares of the company’s stock, valued at approximately $1,893,000. Hooker Furnishings makes up 1.9% of Peapod Lane Capital LLC’s holdings, making the stock its 21st biggest holding.

Several other large investors also recently made changes to their positions in HOFT. Pzena Investment Management LLC lifted its position in Hooker Furnishings by 1.1% in the 3rd quarter. Pzena Investment Management LLC now owns 1,286,381 shares of the company’s stock valued at $23,258,000 after acquiring an additional 13,524 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Hooker Furnishings by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 241,310 shares of the company’s stock valued at $4,364,000 after purchasing an additional 2,493 shares during the period. State Street Corp lifted its holdings in shares of Hooker Furnishings by 4.9% in the third quarter. State Street Corp now owns 172,370 shares of the company’s stock valued at $3,116,000 after purchasing an additional 8,117 shares in the last quarter. Foundry Partners LLC boosted its position in shares of Hooker Furnishings by 22.0% during the third quarter. Foundry Partners LLC now owns 86,155 shares of the company’s stock worth $1,558,000 after buying an additional 15,550 shares during the period. Finally, Empowered Funds LLC grew its holdings in shares of Hooker Furnishings by 5.0% during the fourth quarter. Empowered Funds LLC now owns 51,623 shares of the company’s stock worth $723,000 after buying an additional 2,435 shares in the last quarter. Institutional investors own 73.63% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Hooker Furnishings

In other Hooker Furnishings news, Director Paulette Garafalo sold 2,489 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $17.10, for a total transaction of $42,561.90. Following the sale, the director now directly owns 20,783 shares of the company’s stock, valued at approximately $355,389.30. This represents a 10.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Hooker Furnishings Stock Performance

Shares of HOFT stock opened at $13.13 on Thursday. Hooker Furnishings Co. has a 12 month low of $12.06 and a 12 month high of $25.80. The company’s fifty day simple moving average is $14.06 and its 200-day simple moving average is $15.70. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.16 and a quick ratio of 1.76.

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

Hooker Furnishings Announces Dividend

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

About Hooker Furnishings

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.