Thrivent Financial for Lutherans Acquires 100,416 Shares of La-Z-Boy Incorporated $LZB

Thrivent Financial for Lutherans boosted its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 7.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,391,236 shares of the company’s stock after buying an additional 100,416 shares during the period. Thrivent Financial for Lutherans owned approximately 3.38% of La-Z-Boy worth $47,747,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Qube Research & Technologies Ltd grew its position in shares of La-Z-Boy by 64.5% in the second quarter. Qube Research & Technologies Ltd now owns 391,470 shares of the company’s stock valued at $14,551,000 after purchasing an additional 153,498 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in La-Z-Boy by 18.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 721,029 shares of the company’s stock worth $24,400,000 after purchasing an additional 113,396 shares during the period. Access Investment Management LLC purchased a new position in La-Z-Boy during the 2nd quarter valued at about $3,346,000. American Century Companies Inc. grew its holdings in shares of La-Z-Boy by 7.1% during the second quarter. American Century Companies Inc. now owns 1,338,905 shares of the company’s stock worth $49,767,000 after purchasing an additional 88,852 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of La-Z-Boy by 19.6% in the second quarter. Bank of America Corp DE now owns 467,507 shares of the company’s stock worth $17,377,000 after purchasing an additional 76,629 shares during the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.

La-Z-Boy Trading Up 2.2%

Shares of NYSE:LZB opened at $37.21 on Tuesday. The company has a 50-day moving average price of $38.54 and a 200-day moving average price of $36.01. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 17.07 and a beta of 1.27. La-Z-Boy Incorporated has a 12 month low of $29.03 and a 12 month high of $48.13.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings results on Tuesday, November 18th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.17. La-Z-Boy had a return on equity of 11.19% and a net margin of 4.29%.The company had revenue of $522.48 million for the quarter, compared to the consensus estimate of $517.63 million. During the same quarter in the previous year, the business earned $0.71 EPS. La-Z-Boy’s revenue was up .3% compared to the same quarter last year. As a group, research analysts forecast that La-Z-Boy Incorporated will post 2.99 EPS for the current fiscal year.

La-Z-Boy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Thursday, December 4th were paid a dividend of $0.242 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, December 4th. This is a positive change from La-Z-Boy’s previous quarterly dividend of $0.22. La-Z-Boy’s payout ratio is presently 44.50%.

Wall Street Analysts Forecast Growth

LZB has been the topic of a number of research analyst reports. KeyCorp reissued an “overweight” rating on shares of La-Z-Boy in a report on Wednesday, December 17th. Weiss Ratings restated a “hold (c)” rating on shares of La-Z-Boy in a research report on Monday, December 22nd. Needham & Company LLC reiterated a “buy” rating on shares of La-Z-Boy in a report on Wednesday, December 17th. Sidoti raised La-Z-Boy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $36.00 to $39.00 in a report on Wednesday, November 19th. Finally, Zacks Research downgraded La-Z-Boy from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, La-Z-Boy presently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

About La-Z-Boy

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.