Royal Bank of Canada Reduces Position in Hooker Furniture Corporation (NASDAQ:HOFT)

Royal Bank of Canada cut its stake in Hooker Furniture Corporation (NASDAQ:HOFT) by 9.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,975 shares of the company’s stock after selling 2,424 shares during the quarter. Royal Bank of Canada owned about 0.21% of Hooker Furniture Corporation worth $987,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of HOFT. State Board of Administration of Florida Retirement System raised its holdings in Hooker Furniture Corporation by 24.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 7,862 shares of the company’s stock worth $244,000 after purchasing an additional 1,533 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Hooker Furniture Corporation by 8.2% in the 1st quarter. Bank of New York Mellon Corp now owns 101,569 shares of the company’s stock worth $3,154,000 after purchasing an additional 7,737 shares in the last quarter. American International Group Inc. raised its holdings in Hooker Furniture Corporation by 7.1% in the 1st quarter. American International Group Inc. now owns 6,988 shares of the company’s stock worth $217,000 after purchasing an additional 464 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in Hooker Furniture Corporation by 11.5% in the 1st quarter. TIAA CREF Investment Management LLC now owns 66,355 shares of the company’s stock worth $2,060,000 after purchasing an additional 6,857 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Hooker Furniture Corporation by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 459,203 shares of the company’s stock worth $14,258,000 after purchasing an additional 35,153 shares in the last quarter. Institutional investors and hedge funds own 84.74% of the company’s stock.

In other news, insider Michael W. Delgatti sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $43.03, for a total transaction of $430,300.00. Following the sale, the insider now owns 28,425 shares of the company’s stock, valued at approximately $1,223,127.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael W. Delgatti sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $43.58, for a total transaction of $217,900.00. Following the sale, the insider now directly owns 33,525 shares in the company, valued at approximately $1,461,019.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,607 shares of company stock valued at $2,506,409. 2.90% of the stock is owned by company insiders.

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Hooker Furniture Corporation (HOFT) opened at $44.25 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.08 and a quick ratio of 2.47. The stock has a market cap of $506.90, a PE ratio of 16.64 and a beta of 0.64. Hooker Furniture Corporation has a 12 month low of $26.60 and a 12 month high of $50.53.

Hooker Furniture Corporation (NASDAQ:HOFT) last issued its quarterly earnings results on Thursday, September 7th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.06. The company had revenue of $156.31 million during the quarter, compared to analyst estimates of $148.56 million. Hooker Furniture Corporation had a net margin of 4.94% and a return on equity of 15.28%. Hooker Furniture Corporation’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the business earned $0.46 EPS.

Separately, BidaskClub lowered shares of Hooker Furniture Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 18th.

About Hooker Furniture Corporation

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 Corporation (NASDAQ:HOFT)

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