Pacer Advisors Inc. acquired a new position in La-Z-Boy Incorporated (NYSE:LZB – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 122,180 shares of the company’s stock, valued at approximately $4,554,000. Pacer Advisors Inc. owned approximately 0.30% of La-Z-Boy at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of LZB. Quarry LP lifted its position in La-Z-Boy by 4,785.7% in the 4th quarter. Quarry LP now owns 684 shares of the company’s stock worth $25,000 after buying an additional 670 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of La-Z-Boy by 290.0% during the second quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock worth $33,000 after acquiring an additional 670 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of La-Z-Boy by 99.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock worth $42,000 after acquiring an additional 567 shares during the last quarter. TD Private Client Wealth LLC bought a new stake in shares of La-Z-Boy in the 4th quarter worth approximately $45,000. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of La-Z-Boy by 3,130.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,260 shares of the company’s stock valued at $43,000 after purchasing an additional 1,221 shares in the last quarter. 99.62% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
LZB has been the subject of several recent research reports. Weiss Ratings raised shares of La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Wall Street Zen upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a report on Sunday, June 14th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, La-Z-Boy has an average rating of “Moderate Buy” and an average price target of $39.00.
La-Z-Boy Trading Up 0.8%
LZB stock opened at $39.96 on Tuesday. The firm’s 50-day moving average price is $36.25 and its two-hundred day moving average price is $36.40. La-Z-Boy Incorporated has a 12-month low of $29.03 and a 12-month high of $44.90. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 1.21 and a beta of 1.26.
La-Z-Boy (NYSE:LZB – Get Free Report) last posted its earnings results on Tuesday, June 16th. The company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.44. La-Z-Boy had a net margin of 4.80% and a return on equity of 11.97%. The company had revenue of $570.34 million during the quarter, compared to analyst estimates of $569.23 million. During the same period in the prior year, the business posted $0.36 earnings per share. La-Z-Boy’s revenue for the quarter was down .1% on a year-over-year basis. Equities analysts predict that La-Z-Boy Incorporated will post 2.98 EPS for the current year.
La-Z-Boy Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd were paid a dividend of $0.242 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.97 annualized dividend and a dividend yield of 2.4%. La-Z-Boy’s payout ratio is 39.27%.
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.
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