William Blair Investment Management LLC Makes New $19.51 Million Investment in La-Z-Boy Incorporated $LZB

William Blair Investment Management LLC purchased a new position in shares of La-Z-Boy Incorporated (NYSE:LZB) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 486,324 shares of the company’s stock, valued at approximately $19,511,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP grew its holdings in shares of La-Z-Boy by 4,785.7% in the fourth quarter. Quarry LP now owns 684 shares of the company’s stock valued at $25,000 after purchasing an additional 670 shares during the period. Versant Capital Management Inc increased its position in La-Z-Boy by 172.8% during the second quarter. Versant Capital Management Inc now owns 652 shares of the company’s stock worth $26,000 after purchasing an additional 413 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in La-Z-Boy during the second quarter worth about $28,000. EverSource Wealth Advisors LLC boosted its holdings in La-Z-Boy by 290.0% in the 2nd 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. Finally, Geneos Wealth Management Inc. boosted its holdings in La-Z-Boy by 99.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock valued at $42,000 after purchasing an additional 567 shares during the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.

La-Z-Boy Price Performance

NYSE LZB opened at $33.82 on Friday. The firm’s 50-day moving average is $39.73 and its two-hundred day moving average is $36.85. La-Z-Boy Incorporated has a 12 month low of $29.03 and a 12 month high of $44.90. The stock has a market capitalization of $1.35 billion, a P/E ratio of 17.17, a PEG ratio of 1.08 and a beta of 1.27.

La-Z-Boy (NYSE:LZB) last announced its earnings results on Tuesday, August 18th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). La-Z-Boy had a return on equity of 11.79% and a net margin of 3.86%.The company had revenue of $475.69 million for the quarter, compared to analysts’ expectations of $501.44 million. During the same period last year, the business earned $0.47 EPS. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. As a group, analysts anticipate that La-Z-Boy Incorporated will post 2.7 EPS for the current year.

La-Z-Boy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Thursday, September 3rd will be given a dividend of $0.242 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.9%. La-Z-Boy’s dividend payout ratio (DPR) is presently 49.24%.

Wall Street Analysts Forecast Growth

LZB has been the subject of several analyst reports. Wall Street Zen cut shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research lowered shares of La-Z-Boy from a “hold” rating to a “strong sell” rating in a research report on Thursday. Weiss Ratings cut La-Z-Boy from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday. Finally, KeyCorp lowered their price objective on La-Z-Boy from $46.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, La-Z-Boy currently has an average rating of “Hold” and a consensus price target of $39.50.

Insider Activity

In related news, VP Raphaell Z. Richmond sold 13,671 shares of La-Z-Boy stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $39.83, for a total value of $544,515.93. Following the completion of the sale, the vice president owned 51,695 shares in the company, valued at approximately $2,059,011.85. This trade represents a 20.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Terrence James Linz sold 2,500 shares of La-Z-Boy stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $40.23, for a total transaction of $100,575.00. Following the completion of the sale, the insider owned 64,383 shares of the company’s stock, valued at $2,590,128.09. This trade represents a 3.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 66,299 shares of company stock worth $2,677,491 in the last three months. 3.12% of the stock is currently owned by corporate insiders.

Key La-Z-Boy News

Here are the key news stories impacting La-Z-Boy this week:

• Positive Sentiment: La-Z-Boy’s retail business showed momentum, with retail-segment sales reportedly rising 16% and the company returning $35 million to shareholders. La-Z-Boy Shatters Records: 16% Retail Segment Sales Growth and $35 Million Shareholder Returns
• Positive Sentiment: Management expects second-quarter sales of $500 million to $520 million while investing in supply-chain capacity and retail expansion, signaling confidence in longer-term growth. La-Z-Boy expects Q2 sales of $500M-$520M while investing in supply chain and retail expansion
• Neutral Sentiment: Recent coverage indicates that strong retail performance was offset by weaker wholesale results, highlighting uneven demand across La-Z-Boy’s distribution channels. La-Z-Boy’s retail momentum offset by wholesale numbers in Q1
• Negative Sentiment: Sidoti lowered its FY2027 EPS forecast to $2.55 from $2.66, cut Q2 2027 estimates to $0.48 from $0.73, and reduced Q3 and Q4 estimates to $0.59 and $1.04, respectively. Its Q2 2028 forecast fell to $0.58 from $0.87.
• Negative Sentiment: Sidoti also reduced FY2028 EPS expectations to $3.00 from $3.32. The repeated estimate cuts imply analysts see softer profitability ahead, which is likely weighing on LZB shares.
• Negative Sentiment: La-Z-Boy’s latest reported quarter missed expectations, with EPS of $0.43 versus $0.49 expected and revenue of $475.69 million versus $501.44 million forecast; revenue declined 3.4% year over year.

La-Z-Boy Profile

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.