Horizon Investments LLC purchased a new position in shares of La-Z-Boy Incorporated (NYSE:LZB – Free Report) during the fourth quarter, Holdings Channel.com reports. The fund purchased 15,863 shares of the company’s stock, valued at approximately $591,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in LZB. Osaic Holdings Inc. raised its holdings in shares of La-Z-Boy by 3.5% in the 2nd quarter. Osaic Holdings Inc. now owns 9,258 shares of the company’s stock worth $344,000 after purchasing an additional 310 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of La-Z-Boy by 75.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 755 shares of the company’s stock worth $26,000 after purchasing an additional 324 shares in the last quarter. Raymond James Financial Inc. raised its holdings in shares of La-Z-Boy by 2.3% in the 3rd quarter. Raymond James Financial Inc. now owns 14,703 shares of the company’s stock worth $505,000 after purchasing an additional 336 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of La-Z-Boy by 0.3% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 110,619 shares of the company’s stock worth $4,126,000 after purchasing an additional 363 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its holdings in shares of La-Z-Boy by 1.8% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 20,666 shares of the company’s stock worth $770,000 after purchasing an additional 374 shares in the last quarter. 99.62% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently commented on LZB shares. Zacks Research downgraded shares of La-Z-Boy from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. Wall Street Zen downgraded shares of La-Z-Boy from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.00.
La-Z-Boy Price Performance
NYSE LZB opened at $35.69 on Friday. The company’s 50 day simple moving average is $34.00 and its 200 day simple moving average is $35.70. The company has a market capitalization of $1.46 billion, a P/E ratio of 17.67 and a beta of 1.25. La-Z-Boy Incorporated has a 12 month low of $29.03 and a 12 month high of $44.49.
La-Z-Boy (NYSE:LZB – Get Free Report) last released its earnings results on Tuesday, February 17th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.02. The business had revenue of $541.59 million for the quarter, compared to the consensus estimate of $535.47 million. La-Z-Boy had a net margin of 3.93% and a return on equity of 10.79%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. On average, analysts anticipate that La-Z-Boy Incorporated will post 2.61 earnings per share for the current year.
La-Z-Boy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd will be given a $0.242 dividend. This represents a $0.97 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, June 2nd. La-Z-Boy’s dividend payout ratio (DPR) is 48.02%.
Insider Buying and Selling at La-Z-Boy
In other news, SVP Michael Adam Leggett sold 2,200 shares of La-Z-Boy stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $37.00, for a total value of $81,400.00. Following the transaction, the senior vice president directly owned 42,473 shares of the company’s stock, valued at $1,571,501. This trade represents a 4.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.66% of the stock is currently owned by company insiders.
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.
Featured Articles
Want to see what other hedge funds are holding LZB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for La-Z-Boy Incorporated (NYSE:LZB – Free Report).
Receive News & Ratings for La-Z-Boy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La-Z-Boy and related companies with MarketBeat.com's FREE daily email newsletter.
