Macquarie Group Ltd. Reduces Position in Haverty Furniture Companies, Inc. (HVT)

Macquarie Group Ltd. cut its stake in Haverty Furniture Companies, Inc. (NYSE:HVT) by 18.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 52,097 shares of the company’s stock after selling 11,800 shares during the period. Macquarie Group Ltd.’s holdings in Haverty Furniture Companies were worth $1,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Two Sigma Advisers LP increased its position in Haverty Furniture Companies by 2.7% in the fourth quarter. Two Sigma Advisers LP now owns 90,988 shares of the company’s stock worth $2,061,000 after buying an additional 2,400 shares during the period. Stone Ridge Asset Management LLC acquired a new stake in Haverty Furniture Companies in the fourth quarter worth $976,000. Deutsche Bank AG grew its stake in shares of Haverty Furniture Companies by 152.3% in the fourth quarter. Deutsche Bank AG now owns 50,118 shares of the company’s stock worth $1,132,000 after purchasing an additional 30,252 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Haverty Furniture Companies by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 161,868 shares of the company’s stock worth $3,665,000 after purchasing an additional 7,937 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Haverty Furniture Companies by 37.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 146,677 shares of the company’s stock worth $3,322,000 after purchasing an additional 39,900 shares in the last quarter. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

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In other news, VP Jenny H. Parker sold 2,000 shares of the stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $20.50, for a total value of $41,000.00. Following the completion of the transaction, the vice president now owns 33,354 shares of the company’s stock, valued at $683,757. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 10.31% of the company’s stock.

Several research firms have recently issued reports on HVT. Zacks Investment Research raised Haverty Furniture Companies from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Friday, January 12th. TheStreet cut Haverty Furniture Companies from a “b” rating to a “c+” rating in a research note on Tuesday, February 20th.

NYSE:HVT opened at $19.00 on Friday. Haverty Furniture Companies, Inc. has a 1 year low of $18.60 and a 1 year high of $27.23. The firm has a market capitalization of $412.22, a PE ratio of 15.20 and a beta of 0.99. The company has a quick ratio of 1.20, a current ratio of 2.35 and a debt-to-equity ratio of 0.17.

Haverty Furniture Companies (NYSE:HVT) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.10. Haverty Furniture Companies had a return on equity of 9.24% and a net margin of 2.57%. The company had revenue of $214.96 million during the quarter, compared to analysts’ expectations of $221.20 million. During the same quarter in the prior year, the business posted $0.52 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. sell-side analysts predict that Haverty Furniture Companies, Inc. will post 1.45 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Wednesday, March 14th were paid a $0.18 dividend. This is a boost from Haverty Furniture Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, March 13th. This represents a $0.72 annualized dividend and a dividend yield of 3.79%. Haverty Furniture Companies’s dividend payout ratio is presently 57.60%.

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Haverty Furniture Companies Profile

Haverty Furniture Companies, Inc is a retailer of residential furniture and accessories. The Company sells home furnishings in its retail stores and through its Website, havertys.com. As of December 31, 2016, the Company had 124 stores in 16 states in the Southern and Midwest regions. As of December 31, 2016, the Company’s retail store space totaled approximately 4.5 million square feet for 124 stores.

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Institutional Ownership by Quarter for Haverty Furniture Companies (NYSE:HVT)

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