ArchPoint Investors Has $13.16 Million Stock Position in La-Z-Boy Incorporated $LZB

ArchPoint Investors lessened its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 13.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 352,996 shares of the company’s stock after selling 53,200 shares during the period. La-Z-Boy makes up about 3.1% of ArchPoint Investors’ investment portfolio, making the stock its 7th largest position. ArchPoint Investors’ holdings in La-Z-Boy were worth $13,156,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in LZB. Royal Bank of Canada increased its holdings in La-Z-Boy by 11.1% during the 1st quarter. Royal Bank of Canada now owns 16,056 shares of the company’s stock worth $628,000 after purchasing an additional 1,598 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of La-Z-Boy by 3.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,836 shares of the company’s stock valued at $971,000 after acquiring an additional 769 shares in the last quarter. Norges Bank bought a new position in shares of La-Z-Boy in the 2nd quarter valued at about $404,000. Arrowstreet Capital Limited Partnership bought a new stake in La-Z-Boy during the second quarter worth about $736,000. Finally, EverSource Wealth Advisors LLC boosted its position in La-Z-Boy by 290.0% during the second quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock valued at $33,000 after purchasing an additional 670 shares during the last quarter. Institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Down 1.2%

LZB stock opened at $38.50 on Friday. The business has a 50 day moving average price of $35.46 and a two-hundred day moving average price of $36.43. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 19.06 and a beta of 1.26. La-Z-Boy Incorporated has a twelve month low of $29.03 and a twelve month high of $41.06.

La-Z-Boy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd will be paid a $0.242 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, June 2nd. La-Z-Boy’s dividend payout ratio (DPR) is currently 48.02%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LZB shares. Wall Street Zen upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Sunday. Weiss Ratings restated a “hold (c)” rating on shares of La-Z-Boy in a research note on Monday, May 18th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, La-Z-Boy presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

About La-Z-Boy

La-Z-Boy Incorporated (NYSE: LZB) is a leading U.S. manufacturer and marketer of residential furniture, best known for its upholstered recliners, sofas, stationary chairs and sleeper sofas. The company offers a broad range of products in both fabric and leather, complemented by occasional tables, desks, lamps and other home furnishings through its branded retail network.

Founded in 1927 by cousins Edward Knabusch and Edwin Shoemaker in Monroe, Michigan, La-Z-Boy pioneered the modern reclining chair.