La-Z-Boy Incorporated (NYSE:LZB) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of La-Z-Boy Incorporated (NYSE:LZB) have been given a consensus rating of “Moderate Buy” by the five analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $39.00.

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of La-Z-Boy in a research note on Monday, May 18th. Wall Street Zen upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Sunday.

La-Z-Boy Price Performance

Shares of NYSE LZB opened at $38.50 on Wednesday. The stock has a market capitalization of $1.58 billion, a P/E ratio of 19.06 and a beta of 1.26. La-Z-Boy has a 1-year low of $29.03 and a 1-year high of $41.06. The business has a fifty day moving average price of $35.46 and a 200 day moving average price of $36.43.

La-Z-Boy Announces Dividend

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

Institutional Investors Weigh In On La-Z-Boy

A number of hedge funds have recently made changes to their positions in LZB. Vanguard Group Inc. boosted its holdings in La-Z-Boy by 0.8% in the fourth 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. Dimensional Fund Advisors LP boosted its holdings in La-Z-Boy by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,694,255 shares of the company’s stock worth $86,594,000 after acquiring an additional 38,870 shares in the last quarter. Franklin Resources Inc. boosted its holdings in La-Z-Boy by 24.0% in the fourth quarter. Franklin Resources Inc. now owns 1,851,873 shares of the company’s stock worth $69,019,000 after acquiring an additional 358,945 shares in the last quarter. LSV Asset Management boosted its holdings in La-Z-Boy by 0.8% in the fourth quarter. LSV Asset Management now owns 1,476,882 shares of the company’s stock worth $55,043,000 after acquiring an additional 11,983 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in La-Z-Boy by 7.2% in the third 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. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

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.