Envestnet Asset Management Inc. increased its stake in Hooker Furniture Co. (NASDAQ:HOFT) by 1,417.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,217 shares of the company’s stock after acquiring an additional 3,005 shares during the period. Envestnet Asset Management Inc.’s holdings in Hooker Furniture were worth $154,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prudential Financial Inc. purchased a new position in Hooker Furniture in the second quarter worth about $293,000. Alliancebernstein L.P. purchased a new position in shares of Hooker Furniture during the second quarter valued at approximately $267,000. Wells Fargo & Company MN boosted its position in shares of Hooker Furniture by 22.4% during the second quarter. Wells Fargo & Company MN now owns 43,391 shares of the company’s stock valued at $1,785,000 after buying an additional 7,949 shares during the period. Eqis Capital Management Inc. purchased a new position in shares of Hooker Furniture during the third quarter valued at approximately $381,000. Finally, OxFORD Asset Management LLP boosted its position in shares of Hooker Furniture by 40.8% during the third quarter. OxFORD Asset Management LLP now owns 32,273 shares of the company’s stock valued at $1,547,000 after buying an additional 9,353 shares during the period. Institutional investors own 85.14% of the company’s stock.

Hooker Furniture Co. (NASDAQ:HOFT) opened at $42.85 on Thursday. Hooker Furniture Co. has a 12-month low of $29.75 and a 12-month high of $52.75. The stock has a market capitalization of $502.84, a P/E ratio of 16.23 and a beta of 0.64. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.07 and a current ratio of 3.53.

Hooker Furniture (NASDAQ:HOFT) last announced its earnings results on Thursday, December 7th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.04). Hooker Furniture had a net margin of 4.96% and a return on equity of 14.89%. The business had revenue of $157.90 million for the quarter, compared to analysts’ expectations of $160.02 million. During the same quarter last year, the firm earned $0.56 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Monday, December 18th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Friday, December 15th. This is a positive change from Hooker Furniture’s previous quarterly dividend of $0.12. Hooker Furniture’s payout ratio is 21.21%.

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

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

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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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