Handelsbanken Fonder AB Decreases Stake in La-Z-Boy Incorporated (NYSE:LZB)

Handelsbanken Fonder AB lowered its stake in La-Z-Boy Incorporated (NYSE:LZB) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,602 shares of the company’s stock after selling 600 shares during the period. Handelsbanken Fonder AB’s holdings in La-Z-Boy were worth $391,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in LZB. Phocas Financial Corp. raised its holdings in shares of La-Z-Boy by 2.0% during the fourth quarter. Phocas Financial Corp. now owns 125,334 shares of the company’s stock worth $4,627,000 after purchasing an additional 2,411 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of La-Z-Boy during the fourth quarter worth $794,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of La-Z-Boy by 7.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,128 shares of the company’s stock worth $743,000 after purchasing an additional 1,457 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of La-Z-Boy during the fourth quarter worth $35,000. Finally, Pacer Advisors Inc. raised its holdings in shares of La-Z-Boy by 21.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,106,430 shares of the company’s stock worth $40,849,000 after purchasing an additional 192,546 shares during the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.

Insider Activity at La-Z-Boy

In related news, SVP Michael Adam Leggett sold 3,077 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $37.08, for a total transaction of $114,095.16. Following the sale, the senior vice president now owns 21,519 shares in the company, valued at $797,924.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of La-Z-Boy from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th.

La-Z-Boy Price Performance

Shares of La-Z-Boy stock opened at $32.71 on Thursday. The firm has a fifty day moving average price of $35.66 and a 200 day moving average price of $34.71. La-Z-Boy Incorporated has a 1 year low of $25.12 and a 1 year high of $39.87. The stock has a market cap of $1.39 billion, a PE ratio of 12.07 and a beta of 1.16.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.08). The firm had revenue of $500.40 million for the quarter, compared to analyst estimates of $523.09 million. La-Z-Boy had a net margin of 5.73% and a return on equity of 13.55%. The firm’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 EPS. As a group, equities analysts expect that La-Z-Boy Incorporated will post 2.72 EPS for the current year.

La-Z-Boy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 4th. This represents a $0.80 annualized dividend and a yield of 2.45%. La-Z-Boy’s dividend payout ratio is presently 29.52%.

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.