Key Points
- Chairman Clarence Smith sold 20,991 Haverty Furniture shares for approximately $591,107 at an average price of $28.16, reducing his ownership by 22.64% to 71,705 shares.
- Haverty Furniture reported quarterly EPS of $0.25, beating estimates by $0.02, while revenue of $194.94 million exceeded expectations of $189.19 million.
- The company declared a quarterly dividend of $0.33, equivalent to an annualized $1.32 payout and a 4.7% yield; analysts maintain a consensus “Hold” rating.
Haverty Furniture Companies, Inc. (NYSE:HVT - Get Free Report) Chairman Clarence Smith sold 20,991 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $28.16, for a total value of $591,106.56. Following the completion of the sale, the chairman owned 71,705 shares in the company, valued at approximately $2,019,212.80. This represents a 22.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Haverty Furniture Companies Stock Performance
Shares of HVT stock opened at $28.24 on Thursday. Haverty Furniture Companies, Inc. has a 1 year low of $19.89 and a 1 year high of $29.83. The firm has a market capitalization of $440.32 million, a PE ratio of 20.77, a price-to-earnings-growth ratio of 1.46 and a beta of 1.20. The stock has a fifty day moving average of $25.86 and a two-hundred day moving average of $23.98.
Haverty Furniture Companies (NYSE:HVT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. The company had revenue of $194.94 million for the quarter, compared to analyst estimates of $189.19 million. Haverty Furniture Companies had a return on equity of 7.15% and a net margin of 2.93%. Equities research analysts predict that Haverty Furniture Companies, Inc. will post 1.62 earnings per share for the current fiscal year.
Haverty Furniture Companies Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Tuesday, August 25th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $1.32 annualized dividend and a dividend yield of 4.7%. Haverty Furniture Companies's dividend payout ratio (DPR) is 97.06%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the company. Zacks Research upgraded Haverty Furniture Companies from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Wall Street Zen upgraded shares of Haverty Furniture Companies from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Finally, Weiss Ratings upgraded shares of Haverty Furniture Companies from a "hold (c-)" rating to a "hold (c+)" rating in a research report on Tuesday. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, Haverty Furniture Companies presently has a consensus rating of "Hold".
Get Our Latest Analysis on Haverty Furniture Companies
Institutional Investors Weigh In On Haverty Furniture Companies
A number of institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in shares of Haverty Furniture Companies during the 2nd quarter worth about $31,000. Legal & General Group Plc bought a new position in shares of Haverty Furniture Companies during the 2nd quarter valued at $32,000. CANADA LIFE ASSURANCE Co lifted its stake in shares of Haverty Furniture Companies by 57.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,721 shares of the company's stock valued at $40,000 after purchasing an additional 625 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in Haverty Furniture Companies in the fourth quarter worth $45,000. Finally, Fifth Third Bancorp bought a new stake in Haverty Furniture Companies in the first quarter worth $49,000. Institutional investors and hedge funds own 80.57% of the company's stock.
About Haverty Furniture Companies
(
Get Free Report)
Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and home décor in the United States. Founded in 1885 by J.J. Haverty and headquartered in Atlanta, Georgia, the company offers a broad assortment of upholstered furniture, case goods, mattresses, area rugs and decorative accessories. Customers can shop through a network of company-owned showrooms as well as an e-commerce platform, supported by in-house design services, delivery options and consumer financing programs.
Over more than a century of operation, Havertys has expanded its presence primarily across the Southeast and select markets beyond.
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