Waterfront Wealth Inc. Sells 7,402 Shares of Hooker Furnishings Co. (NASDAQ:HOFT)

Waterfront Wealth Inc. lowered its position in Hooker Furnishings Co. (NASDAQ:HOFT) by 18.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 32,210 shares of the company’s stock after selling 7,402 shares during the period. Waterfront Wealth Inc.’s holdings in Hooker Furnishings were worth $840,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in HOFT. Quantbot Technologies LP increased its holdings in shares of Hooker Furnishings by 595.0% in the first quarter. Quantbot Technologies LP now owns 1,390 shares of the company’s stock worth $26,000 after acquiring an additional 1,190 shares in the last quarter. Barclays PLC increased its stake in Hooker Furnishings by 763.3% during the 1st quarter. Barclays PLC now owns 3,643 shares of the company’s stock worth $67,000 after purchasing an additional 3,221 shares in the last quarter. California State Teachers Retirement System bought a new stake in Hooker Furnishings during the 2nd quarter worth approximately $68,000. BNP Paribas Arbitrage SNC acquired a new stake in Hooker Furnishings during the 2nd quarter worth approximately $71,000. Finally, Victory Capital Management Inc. lifted its stake in Hooker Furnishings by 29.3% in the fourth quarter. Victory Capital Management Inc. now owns 3,976 shares of the company’s stock valued at $74,000 after buying an additional 902 shares in the last quarter. Institutional investors and hedge funds own 73.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Hooker Furnishings from a “buy” rating to a “hold” rating in a research report on Tuesday.

Hooker Furnishings Stock Down 0.6 %

Shares of HOFT traded down $0.10 during midday trading on Thursday, hitting $18.08. The stock had a trading volume of 1,454 shares, compared to its average volume of 40,454. The firm has a market cap of $192.73 million, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 1.07 and a beta of 1.06. The company has a 50 day simple moving average of $23.19 and a two-hundred day simple moving average of $21.94. Hooker Furnishings Co. has a twelve month low of $14.73 and a twelve month high of $27.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.98 and a quick ratio of 2.31.

Hooker Furnishings Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date was Friday, March 15th. Hooker Furnishings’s dividend payout ratio is presently 101.10%.

About Hooker Furnishings

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. The company's 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.