34,204 Shares in La-Z-Boy Incorporated $LZB Bought by Pinnacle Holdings LLC

Pinnacle Holdings LLC bought a new stake in shares of La-Z-Boy Incorporated (NYSE:LZB) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 34,204 shares of the company’s stock, valued at approximately $1,372,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Quarry LP boosted its holdings in shares of La-Z-Boy by 4,785.7% during the 4th quarter. Quarry LP now owns 684 shares of the company’s stock valued at $25,000 after purchasing an additional 670 shares during the last quarter. Versant Capital Management Inc grew its position in shares of La-Z-Boy by 172.8% during the second quarter. Versant Capital Management Inc now owns 652 shares of the company’s stock valued at $26,000 after purchasing an additional 413 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of La-Z-Boy in the second quarter worth about $28,000. EverSource Wealth Advisors LLC increased its holdings in shares of La-Z-Boy by 290.0% in the second quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock worth $33,000 after purchasing an additional 670 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of La-Z-Boy by 99.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock worth $42,000 after buying an additional 567 shares in the last quarter. 99.62% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Michael Adam Leggett sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $41.66, for a total transaction of $374,940.00. Following the completion of the sale, the senior vice president directly owned 47,551 shares of the company’s stock, valued at approximately $1,980,974.66. This trade represents a 15.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jennifer Lynn Mccurry sold 3,715 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $41.05, for a total value of $152,500.75. Following the transaction, the chief accounting officer owned 16,763 shares of the company’s stock, valued at approximately $688,121.15. The trade was a 18.14% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 66,299 shares of company stock valued at $2,677,491. 3.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LZB. Zacks Research lowered La-Z-Boy from a “hold” rating to a “strong sell” rating in a research note on Thursday. KeyCorp reduced their price objective on La-Z-Boy from $46.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday. Wall Street Zen cut La-Z-Boy from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings downgraded La-Z-Boy from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday. Three investment 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’s stock. According to MarketBeat.com, La-Z-Boy currently has a consensus rating of “Hold” and an average target price of $39.50.

La-Z-Boy News Summary

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 Trading Up 0.3%

La-Z-Boy stock opened at $33.82 on Monday. La-Z-Boy Incorporated has a 12-month low of $29.03 and a 12-month high of $44.90. The firm has a 50-day moving average price of $39.73 and a 200-day moving average price of $36.85. The firm has a market capitalization of $1.35 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.13 and a beta of 1.27.

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

La-Z-Boy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Thursday, September 3rd will be paid 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 is currently 49.24%.

La-Z-Boy Company 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.