Gabelli Funds LLC decreased its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 9.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 100,000 shares of the company’s stock after selling 10,000 shares during the quarter. Gabelli Funds LLC owned about 0.21% of La-Z-Boy worth $3,359,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in LZB. Amundi Pioneer Asset Management Inc. raised its position in La-Z-Boy by 1.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 67,799 shares of the company’s stock worth $2,236,000 after acquiring an additional 1,124 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of La-Z-Boy by 2.0% in the second quarter. New York State Teachers Retirement System now owns 134,968 shares of the company’s stock valued at $4,138,000 after buying an additional 2,600 shares in the last quarter. Bessemer Group Inc. purchased a new position in shares of La-Z-Boy in the second quarter valued at $172,000. Arizona State Retirement System increased its position in shares of La-Z-Boy by 0.6% in the second quarter. Arizona State Retirement System now owns 72,378 shares of the company’s stock valued at $2,219,000 after buying an additional 400 shares in the last quarter. Finally, Strs Ohio increased its position in shares of La-Z-Boy by 2.1% in the second quarter. Strs Ohio now owns 29,100 shares of the company’s stock valued at $892,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.
Shares of LZB traded down $0.61 during trading hours on Friday, reaching $36.35. 178,712 shares of the company traded hands, compared to its average volume of 343,052. The company has a quick ratio of 1.13, a current ratio of 1.80 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $1.66 billion, a PE ratio of 16.99 and a beta of 0.75. La-Z-Boy Incorporated has a fifty-two week low of $25.30 and a fifty-two week high of $37.26. The stock has a fifty day simple moving average of $34.28 and a 200 day simple moving average of $32.58.
La-Z-Boy (NYSE:LZB) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.09. The business had revenue of $413.60 million for the quarter, compared to analyst estimates of $415.95 million. La-Z-Boy had a return on equity of 15.24% and a net margin of 3.85%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 earnings per share. Research analysts predict that La-Z-Boy Incorporated will post 2.34 EPS for the current fiscal year.
LZB has been the subject of a number of research analyst reports. ValuEngine upgraded La-Z-Boy from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Zacks Investment Research upgraded La-Z-Boy from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Saturday, October 26th. Finally, Raymond James upgraded La-Z-Boy from a “market perform” rating to an “outperform” rating and set a $36.00 price target for the company in a research report on Friday, August 23rd. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $37.00.
In related news, SVP Darrell Dewain Edwards sold 14,820 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $33.43, for a total transaction of $495,432.60. Following the sale, the senior vice president now owns 59,470 shares of the company’s stock, valued at $1,988,082.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.02% of the stock is owned by company 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 Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.
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