Key Points
- Director Rawson Haverty, Jr. sold 4,523 shares on Nov. 19 at an average price of $22.42, totaling about $101,406, according to an SEC filing.
- Haverty raised its quarterly dividend to $0.33 (annualized $1.32), implying a ~5.7% yield with an ex-dividend/record/pay schedule of Nov. 25/Nov. 25/Dec. 11, but the payout ratio is a high 115.79%.
- Recent quarter beat estimates (EPS $0.28 vs. $0.24; revenue $194.5M vs. $183.1M), the stock traded up to $23.22, yet analysts' consensus rating on the name is "Reduce".
Haverty Furniture Companies, Inc. (NYSE:HVT - Get Free Report) Director Rawson Haverty, Jr. sold 4,523 shares of the company's stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $22.42, for a total value of $101,405.66. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Haverty Furniture Companies Trading Up 4.0%
NYSE HVT traded up $0.89 during trading on Friday, reaching $23.22. 98,256 shares of the company's stock were exchanged, compared to its average volume of 123,625. Haverty Furniture Companies, Inc. has a fifty-two week low of $17.01 and a fifty-two week high of $24.91. The company's fifty day simple moving average is $21.71 and its 200-day simple moving average is $21.45. The firm has a market capitalization of $377.64 million, a PE ratio of 20.36, a P/E/G ratio of 1.49 and a beta of 1.32.
Haverty Furniture Companies (NYSE:HVT - Get Free Report) last issued its earnings results on Wednesday, October 29th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.04. The company had revenue of $194.48 million for the quarter, compared to the consensus estimate of $183.12 million. Haverty Furniture Companies had a return on equity of 6.34% and a net margin of 2.62%. Equities analysts forecast that Haverty Furniture Companies, Inc. will post 0.88 EPS for the current fiscal year.
Haverty Furniture Companies Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, November 25th will be paid a dividend of $0.33 per share. This is an increase from Haverty Furniture Companies's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.7%. Haverty Furniture Companies's dividend payout ratio (DPR) is 115.79%.
Hedge Funds Weigh In On Haverty Furniture Companies
Several institutional investors have recently bought and sold shares of HVT. CWM LLC boosted its stake in shares of Haverty Furniture Companies by 163.0% during the 1st quarter. CWM LLC now owns 4,645 shares of the company's stock worth $92,000 after acquiring an additional 2,879 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in Haverty Furniture Companies by 59.7% in the 1st quarter. GSA Capital Partners LLP now owns 39,209 shares of the company's stock worth $773,000 after purchasing an additional 14,657 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Haverty Furniture Companies by 1,929.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,522 shares of the company's stock worth $30,000 after purchasing an additional 1,447 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Haverty Furniture Companies by 6.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 180,417 shares of the company's stock valued at $3,558,000 after purchasing an additional 10,944 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Haverty Furniture Companies during the first quarter valued at approximately $936,000. 80.57% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
HVT has been the subject of several recent research reports. Wall Street Zen upgraded Haverty Furniture Companies from a "buy" rating to a "strong-buy" rating in a report on Sunday, November 9th. Zacks Research downgraded Haverty Furniture Companies from a "hold" rating to a "strong sell" rating in a research note on Monday, October 27th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Haverty Furniture Companies in a research note on Wednesday. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce".
Check Out Our Latest Stock Report on Haverty Furniture Companies
Haverty Furniture Companies Company Profile
(
Get Free Report)
Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products and eclectic looks; and mattress product lines under the Tempur-Pedic, Serta, Sealy, and Stearns and Foster names.
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