Insider Selling: La-Z-Boy (NYSE:LZB) CAO Sells $152,500.75 in Stock

La-Z-Boy Incorporated (NYSE:LZB) CAO Jennifer Lynn Mccurry sold 3,715 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $41.05, for a total value of $152,500.75. Following the completion of the transaction, the chief accounting officer directly owned 16,763 shares in the company, valued at $688,121.15. The trade was a 18.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Jennifer Lynn Mccurry also recently made the following trade(s):

• On Thursday, June 18th, Jennifer Lynn Mccurry sold 3,410 shares of La-Z-Boy stock. The stock was sold at an average price of $40.60, for a total transaction of $138,446.00.

La-Z-Boy Stock Performance

NYSE LZB opened at $41.14 on Monday. The stock has a market capitalization of $1.64 billion, a PE ratio of 16.66, a P/E/G ratio of 1.25 and a beta of 1.26. The stock has a 50-day simple moving average of $36.82 and a 200 day simple moving average of $36.45. La-Z-Boy Incorporated has a twelve month low of $29.03 and a twelve month high of $44.90.

La-Z-Boy (NYSE:LZB) last issued its quarterly earnings results on Tuesday, June 16th. The company reported $1.26 earnings per share for the quarter, beating 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 firm had revenue of $570.34 million during the quarter, compared to the consensus estimate of $569.23 million. During the same period in the prior year, the firm earned $0.36 EPS. The business’s revenue was down .1% on a year-over-year basis. As a group, equities research analysts forecast that La-Z-Boy Incorporated will post 2.98 EPS for the current fiscal year.

La-Z-Boy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd were paid a $0.242 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.4%. La-Z-Boy’s payout ratio is 39.27%.

Analyst Upgrades and Downgrades

LZB has been the topic of a number of recent research reports. Weiss Ratings upgraded La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Wall Street Zen downgraded shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Saturday. Three research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Institutional Trading of La-Z-Boy

Large investors have recently bought and sold shares of the business. Quarry LP increased its holdings in La-Z-Boy by 4,785.7% during the 4th quarter. Quarry LP now owns 684 shares of the company’s stock worth $25,000 after purchasing an additional 670 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of La-Z-Boy by 290.0% in the second quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock valued at $33,000 after purchasing an additional 670 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of 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 buying an additional 567 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of La-Z-Boy by 159.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company’s stock worth $43,000 after buying an additional 713 shares during the period. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of La-Z-Boy by 3,130.8% during the third quarter. CIBC Private Wealth Group LLC now owns 1,260 shares of the company’s stock worth $43,000 after buying an additional 1,221 shares in the last quarter. 99.62% of the stock is owned by institutional investors.

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.