Hooker Furnishings Co. (NASDAQ:HOFT) Announces $0.23 Quarterly Dividend

Hooker Furnishings Co. (NASDAQ:HOFT) announced a quarterly dividend on Wednesday, March 5th, RTT News reports. Stockholders of record on Monday, March 17th will be given a dividend of 0.23 per share on Monday, March 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 7.56%. The ex-dividend date of this dividend is Monday, March 17th.

Hooker Furnishings has increased its dividend by an average of 7.5% annually over the last three years. Hooker Furnishings has a dividend payout ratio of 55.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Hooker Furnishings to earn $1.10 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 83.6%.

Hooker Furnishings Stock Down 0.4 %

NASDAQ:HOFT opened at $12.17 on Friday. Hooker Furnishings has a fifty-two week low of $12.06 and a fifty-two week high of $24.18. The stock has a market capitalization of $130.34 million, a P/E ratio of -13.37, a P/E/G ratio of 0.85 and a beta of 1.16. 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’s 50-day simple moving average is $12.98 and its 200-day simple moving average is $15.39.

Insider Buying and Selling

In related news, Director Paulette Garafalo sold 2,489 shares of Hooker Furnishings stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $17.10, for a total value of $42,561.90. Following the completion of the sale, the director now directly owns 20,783 shares in the company, valued at $355,389.30. This trade represents a 10.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Hooker Furnishings from a “hold” rating to a “sell” rating in a report on Friday, February 28th.

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.