Panagora Asset Management Inc. trimmed its holdings in shares of Haverty Furniture Companies, Inc. (NYSE:HVT) by 28.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 16,473 shares of the company’s stock after selling 6,443 shares during the quarter. Panagora Asset Management Inc.’s holdings in Haverty Furniture Companies were worth $281,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of HVT. AJO LP bought a new stake in shares of Haverty Furniture Companies during the first quarter worth approximately $4,229,000. Hennessy Advisors Inc. bought a new stake in shares of Haverty Furniture Companies during the second quarter worth approximately $2,076,000. Acadian Asset Management LLC raised its stake in shares of Haverty Furniture Companies by 58.5% during the first quarter. Acadian Asset Management LLC now owns 199,506 shares of the company’s stock worth $4,367,000 after buying an additional 73,610 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Haverty Furniture Companies during the first quarter worth approximately $1,303,000. Finally, Wells Fargo & Company MN raised its stake in shares of Haverty Furniture Companies by 70.4% during the second quarter. Wells Fargo & Company MN now owns 85,834 shares of the company’s stock worth $1,461,000 after buying an additional 35,469 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have commented on HVT shares. ValuEngine raised shares of Haverty Furniture Companies from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th. Zacks Investment Research cut shares of Haverty Furniture Companies from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Finally, TheStreet cut shares of Haverty Furniture Companies from a “b-” rating to a “c+” rating in a report on Friday, May 31st.
Haverty Furniture Companies (NYSE:HVT) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Haverty Furniture Companies had a net margin of 3.44% and a return on equity of 9.84%. The firm had revenue of $191.90 million for the quarter, compared to the consensus estimate of $194.32 million. During the same period in the prior year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, sell-side analysts forecast that Haverty Furniture Companies, Inc. will post 1.25 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 26th were paid a $0.20 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.80 annualized dividend and a dividend yield of 3.86%. This is a positive change from Haverty Furniture Companies’s previous quarterly dividend of $0.18. Haverty Furniture Companies’s payout ratio is currently 56.34%.
About Haverty Furniture Companies
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, as well as mattress product lines under the Sealy, Tempur-Pedic, Serta, Stearns & Foster, and Beautyrest Black names.
See Also: What is a Tariff?
Want to see what other hedge funds are holding HVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Haverty Furniture Companies, Inc. (NYSE:HVT).
Receive News & Ratings for Haverty Furniture Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Haverty Furniture Companies and related companies with MarketBeat.com's FREE daily email newsletter.