Algert Global LLC Increases Stake in La-Z-Boy Incorporated (NYSE:LZB)

Algert Global LLC grew its position in La-Z-Boy Incorporated (NYSE:LZB) by 5.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 74,711 shares of the company’s stock after buying an additional 3,801 shares during the period. Algert Global LLC owned approximately 0.18% of La-Z-Boy worth $3,255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Freestone Grove Partners LP bought a new stake in La-Z-Boy in the 4th quarter worth about $463,000. Northern Trust Corp raised its holdings in shares of La-Z-Boy by 10.7% during the fourth quarter. Northern Trust Corp now owns 487,839 shares of the company’s stock valued at $21,255,000 after purchasing an additional 46,975 shares during the last quarter. Johnson Financial Group Inc. lifted its position in La-Z-Boy by 2,394.1% during the fourth quarter. Johnson Financial Group Inc. now owns 1,696 shares of the company’s stock valued at $80,000 after purchasing an additional 1,628 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in La-Z-Boy by 2.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 960,023 shares of the company’s stock worth $41,828,000 after purchasing an additional 23,329 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in La-Z-Boy by 3.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,887 shares of the company’s stock worth $2,000,000 after purchasing an additional 1,560 shares during the period. Institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Down 0.8 %

Shares of NYSE:LZB opened at $40.58 on Thursday. The stock has a market capitalization of $1.68 billion, a PE ratio of 13.95 and a beta of 1.33. The firm’s 50 day moving average price is $39.25 and its 200-day moving average price is $42.25. La-Z-Boy Incorporated has a twelve month low of $33.34 and a twelve month high of $48.31.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. The business had revenue of $521.78 million for the quarter, compared to the consensus estimate of $516.47 million. La-Z-Boy had a net margin of 5.92% and a return on equity of 12.38%. Analysts expect that La-Z-Boy Incorporated will post 2.99 earnings per share for the current fiscal year.

La-Z-Boy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, June 3rd will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Tuesday, June 3rd. La-Z-Boy’s dividend payout ratio (DPR) is currently 30.24%.

Analyst Ratings Changes

Separately, KeyCorp upgraded La-Z-Boy from a “sector weight” rating to an “overweight” rating and set a $46.00 price target on the stock in a research note on Friday, April 25th.

La-Z-Boy 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.