La-Z-Boy Incorporated $LZB Shares Sold by Bridge City Capital LLC

Bridge City Capital LLC lowered its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 30.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,172 shares of the company’s stock after selling 28,560 shares during the period. Bridge City Capital LLC owned approximately 0.16% of La-Z-Boy worth $2,429,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LZB. American Century Companies Inc. grew its holdings in La-Z-Boy by 7.2% during the 3rd quarter. American Century Companies Inc. now owns 1,434,642 shares of the company’s stock worth $49,237,000 after acquiring an additional 95,737 shares in the last quarter. Vanguard Group Inc. grew its holdings in La-Z-Boy by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 4,814,114 shares of the company’s stock worth $179,422,000 after acquiring an additional 38,513 shares in the last quarter. CSM Advisors LLC acquired a new position in La-Z-Boy during the 3rd quarter worth approximately $3,958,000. M&T Bank Corp acquired a new position in La-Z-Boy during the 4th quarter worth approximately $18,433,000. Finally, Rafferty Asset Management LLC lifted its position in shares of La-Z-Boy by 124.0% during the 3rd quarter. Rafferty Asset Management LLC now owns 32,576 shares of the company’s stock worth $1,118,000 after buying an additional 18,031 shares during the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of La-Z-Boy in a research report on Monday, May 18th. Wall Street Zen upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Sunday. Three 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 stock has a consensus rating of “Moderate Buy” and an average price target of $39.00.

La-Z-Boy Stock Performance

Shares of La-Z-Boy stock opened at $38.50 on Friday. The company has a market cap of $1.58 billion, a P/E ratio of 19.06 and a beta of 1.26. La-Z-Boy Incorporated has a one year low of $29.03 and a one year high of $41.06. The firm has a fifty day moving average of $35.46 and a two-hundred day moving average of $36.43.

La-Z-Boy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd will be given a dividend of $0.242 per share. The ex-dividend date is Tuesday, June 2nd. This represents a $0.97 dividend on an annualized basis and a yield of 2.5%. La-Z-Boy’s dividend payout ratio is presently 48.02%.

La-Z-Boy 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.