Dimensional Fund Advisors LP Reduces Position in La-Z-Boy Incorporated (NYSE:LZB)

Dimensional Fund Advisors LP lowered its stake in La-Z-Boy Incorporated (NYSE:LZB) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,975,857 shares of the company’s stock after selling 79,599 shares during the period. Dimensional Fund Advisors LP owned 7.17% of La-Z-Boy worth $129,659,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in La-Z-Boy by 244.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 658 shares of the company’s stock worth $29,000 after acquiring an additional 467 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of La-Z-Boy in the fourth quarter valued at about $51,000. Bank of Montreal Can purchased a new position in shares of La-Z-Boy in the fourth quarter worth about $203,000. O Shaughnessy Asset Management LLC lifted its holdings in shares of La-Z-Boy by 7.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,282 shares of the company’s stock worth $274,000 after purchasing an additional 457 shares during the period. Finally, Verity Asset Management Inc. purchased a new stake in La-Z-Boy in the fourth quarter valued at approximately $275,000. 99.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, KeyCorp upgraded shares of La-Z-Boy from a “sector weight” rating to an “overweight” rating and set a $46.00 price objective for the company in a research note on Friday.

La-Z-Boy Stock Performance

Shares of LZB opened at $38.95 on Friday. The company has a market capitalization of $1.61 billion, a P/E ratio of 13.38 and a beta of 1.31. The business’s 50-day moving average is $40.06 and its two-hundred day moving average is $42.25. La-Z-Boy Incorporated has a fifty-two week low of $32.00 and a fifty-two week high of $48.31.

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

La-Z-Boy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Tuesday, March 4th. La-Z-Boy’s dividend payout ratio is currently 30.24%.

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.