Caitong International Asset Management Co. Ltd trimmed its stake in La-Z-Boy Incorporated (NYSE:LZB – Free Report) by 55.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 808 shares of the company’s stock after selling 1,009 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in La-Z-Boy were worth $30,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of LZB. Allspring Global Investments Holdings LLC lifted its position in shares of La-Z-Boy by 273.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 537,314 shares of the company’s stock worth $21,262,000 after purchasing an additional 393,365 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of La-Z-Boy by 68.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 881,692 shares of the company’s stock worth $34,466,000 after purchasing an additional 359,736 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of La-Z-Boy in the 1st quarter worth about $10,806,000. Nuveen LLC purchased a new stake in shares of La-Z-Boy in the 1st quarter worth about $10,725,000. Finally, American Century Companies Inc. lifted its position in shares of La-Z-Boy by 8.8% in the 1st quarter. American Century Companies Inc. now owns 1,250,053 shares of the company’s stock worth $48,865,000 after purchasing an additional 100,817 shares during the period. 99.62% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts recently issued reports on LZB shares. Zacks Research raised shares of La-Z-Boy from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings reissued a “hold (c)” rating on shares of La-Z-Boy in a research report on Saturday. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $46.00.
La-Z-Boy Stock Performance
NYSE:LZB opened at $32.71 on Monday. The firm has a market cap of $1.35 billion, a P/E ratio of 14.94 and a beta of 1.23. La-Z-Boy Incorporated has a fifty-two week low of $31.42 and a fifty-two week high of $48.31. The firm has a 50-day simple moving average of $34.43 and a two-hundred day simple moving average of $37.66.
La-Z-Boy (NYSE:LZB – Get Free Report) last released its quarterly earnings data on Tuesday, August 19th. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.06). The firm had revenue of $492.23 million for the quarter, compared to the consensus estimate of $502.56 million. La-Z-Boy had a net margin of 4.35% and a return on equity of 11.34%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.62 earnings per share. La-Z-Boy has set its Q2 2026 guidance at EPS. On average, equities research analysts predict that La-Z-Boy Incorporated will post 2.99 EPS for the current year.
La-Z-Boy Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, September 4th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Thursday, September 4th. La-Z-Boy’s dividend payout ratio (DPR) is currently 40.18%.
Insiders Place Their Bets
In other La-Z-Boy news, Director Janet Kerr sold 3,372 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $35.70, for a total transaction of $120,380.40. Following the completion of the sale, the director directly owned 3,653 shares in the company, valued at approximately $130,412.10. This trade represents a 48.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.66% of the company’s stock.
La-Z-Boy Company Profile
La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States, Canada, and internationally. It operates through Wholesale, Retail, Corporate and Other segments. The Wholesale segment manufactures, and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas; and imports, distributes, and retails casegoods (wood) furniture, including occasional pieces, bedroom sets, dining room sets, entertainment centers, and occasional pieces.
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