La-Z-Boy (NYSE:LZB) Sets New 52-Week High – Still a Buy?

La-Z-Boy Incorporated (NYSE:LZB)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $46.54 and last traded at $46.51, with a volume of 230562 shares trading hands. The stock had previously closed at $45.73.

La-Z-Boy Stock Performance

The firm has a fifty day moving average of $44.53 and a 200 day moving average of $42.44. The firm has a market capitalization of $1.96 billion, a PE ratio of 16.34 and a beta of 1.35.

La-Z-Boy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Thursday, December 5th. This is a positive change from La-Z-Boy’s previous quarterly dividend of $0.20. La-Z-Boy’s dividend payout ratio (DPR) is 30.45%.

Institutional Investors Weigh In On La-Z-Boy

Hedge funds have recently bought and sold shares of the business. State Street Corp grew its position in shares of La-Z-Boy by 0.4% in the 3rd quarter. State Street Corp now owns 1,672,009 shares of the company’s stock worth $71,779,000 after acquiring an additional 6,925 shares in the last quarter. Systematic Financial Management LP grew its position in shares of La-Z-Boy by 9.4% in the 3rd quarter. Systematic Financial Management LP now owns 563,684 shares of the company’s stock worth $24,199,000 after acquiring an additional 48,263 shares in the last quarter. abrdn plc grew its position in shares of La-Z-Boy by 38.1% in the 4th quarter. abrdn plc now owns 347,589 shares of the company’s stock worth $15,148,000 after acquiring an additional 95,812 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of La-Z-Boy by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 223,683 shares of the company’s stock worth $9,746,000 after acquiring an additional 6,908 shares in the last quarter. Finally, Empowered Funds LLC grew its position in shares of La-Z-Boy by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 202,786 shares of the company’s stock worth $8,706,000 after acquiring an additional 10,318 shares in the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.

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.