First Merchants Corp Cuts Stock Position in La-Z-Boy Incorporated $LZB

First Merchants Corp lessened its stake in La-Z-Boy Incorporated (NYSE:LZB) by 5.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,894 shares of the company’s stock after selling 900 shares during the period. First Merchants Corp’s holdings in La-Z-Boy were worth $554,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of LZB. GAMMA Investing LLC lifted its stake in shares of La-Z-Boy by 6,396.1% in the 1st quarter. GAMMA Investing LLC now owns 13,447 shares of the company’s stock valued at $526,000 after acquiring an additional 13,240 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of La-Z-Boy by 9.0% in the 1st quarter. Rhumbline Advisers now owns 174,735 shares of the company’s stock valued at $6,830,000 after acquiring an additional 14,443 shares during the last quarter. Cardinal Capital Management lifted its stake in shares of La-Z-Boy by 5.7% in the 1st quarter. Cardinal Capital Management now owns 45,167 shares of the company’s stock valued at $1,766,000 after acquiring an additional 2,431 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of La-Z-Boy by 6.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 23,914 shares of the company’s stock valued at $935,000 after acquiring an additional 1,414 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of La-Z-Boy by 273.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 537,314 shares of the company’s stock valued at $21,262,000 after acquiring an additional 393,365 shares during the last quarter. Institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Down 2.0%

La-Z-Boy stock opened at $32.34 on Friday. The company has a market capitalization of $1.33 billion, a P/E ratio of 14.76 and a beta of 1.23. The stock’s 50 day moving average is $35.48 and its 200 day moving average is $38.12. La-Z-Boy Incorporated has a twelve month low of $31.99 and a twelve month high of $48.31.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings results on Tuesday, August 19th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.06). The company had revenue of $492.23 million during the quarter, compared to analysts’ expectations of $502.56 million. La-Z-Boy had a return on equity of 11.34% and a net margin of 4.35%.The business’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.62 EPS. La-Z-Boy has set its Q2 2026 guidance at EPS. As a group, equities analysts expect that La-Z-Boy Incorporated will post 2.99 EPS for the current year.

La-Z-Boy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, September 4th were paid a $0.22 dividend. The ex-dividend date was Thursday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 2.7%. La-Z-Boy’s dividend payout ratio is presently 40.18%.

Analyst Ratings Changes

A number of research firms have commented on LZB. Wall Street Zen lowered La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. Zacks Research lowered La-Z-Boy from a “hold” rating to a “strong sell” rating in a research report on Friday, August 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of La-Z-Boy in a research report on Wednesday. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, La-Z-Boy presently has a consensus rating of “Hold” and an average price target of $46.00.

Insider Buying and Selling at La-Z-Boy

In related news, Director Janet Kerr sold 3,372 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $35.70, for a total value of $120,380.40. Following the sale, the director owned 3,653 shares in the company, valued at $130,412.10. This represents a 48.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.66% of the stock is owned by insiders.

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.