American Century Companies Inc. Purchases 95,737 Shares of La-Z-Boy Incorporated $LZB

American Century Companies Inc. boosted its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 7.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,434,642 shares of the company’s stock after acquiring an additional 95,737 shares during the quarter. American Century Companies Inc.’s holdings in La-Z-Boy were worth $49,237,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Smartleaf Asset Management LLC increased its stake in shares of La-Z-Boy by 75.2% in the third quarter. Smartleaf Asset Management LLC now owns 755 shares of the company’s stock valued at $26,000 after buying an additional 324 shares during the period. EverSource Wealth Advisors LLC boosted its position in La-Z-Boy by 290.0% during the second quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock valued at $33,000 after acquiring an additional 670 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in La-Z-Boy by 99.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock worth $42,000 after purchasing an additional 567 shares during the period. MAI Capital Management increased its stake in shares of La-Z-Boy by 2,520.9% in the 3rd quarter. MAI Capital Management now owns 2,385 shares of the company’s stock valued at $82,000 after acquiring an additional 2,294 shares in the last quarter. Finally, MTM Investment Management LLC bought a new stake in La-Z-Boy in the second quarter valued at $133,000. Institutional investors and hedge funds own 99.62% of the company’s stock.

Insider Buying and Selling at La-Z-Boy

In related news, SVP Michael Adam Leggett sold 2,200 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $37.00, for a total transaction of $81,400.00. Following the transaction, the senior vice president owned 42,473 shares in the company, valued at $1,571,501. The trade was a 4.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.66% of the company’s stock.

La-Z-Boy Price Performance

LZB opened at $35.30 on Friday. La-Z-Boy Incorporated has a one year low of $29.03 and a one year high of $44.49. The business has a 50 day simple moving average of $37.54 and a two-hundred day simple moving average of $35.95. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 17.48 and a beta of 1.26.

La-Z-Boy (NYSE:LZB) last posted its earnings results on Tuesday, February 17th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.02. La-Z-Boy had a return on equity of 10.79% and a net margin of 3.93%.The firm had revenue of $541.59 million for the quarter, compared to analysts’ expectations of $535.47 million. During the same period in the previous year, the firm earned $0.68 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts expect that La-Z-Boy Incorporated will post 2.99 EPS for the current fiscal year.

La-Z-Boy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd 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, March 3rd. La-Z-Boy’s dividend payout ratio (DPR) is currently 48.02%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Sidoti raised La-Z-Boy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $36.00 to $39.00 in a research note on Wednesday, November 19th. KeyCorp reissued an “overweight” rating on shares of La-Z-Boy in a research report on Wednesday, December 17th. Needham & Company LLC reaffirmed a “buy” rating on shares of La-Z-Boy in a report on Wednesday, December 17th. Zacks Research lowered shares of La-Z-Boy from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of La-Z-Boy in a research report on Monday, December 22nd. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, La-Z-Boy has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

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.