SG Americas Securities LLC decreased its position in La-Z-Boy Incorporated (NYSE:LZB – Free Report) by 30.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 103,670 shares of the company’s stock after selling 44,556 shares during the quarter. SG Americas Securities LLC owned 0.25% of La-Z-Boy worth $3,332,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its holdings in La-Z-Boy by 159.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company’s stock valued at $43,000 after purchasing an additional 713 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in La-Z-Boy by 112.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,510 shares of the company’s stock valued at $56,000 after buying an additional 798 shares in the last quarter. Pacer Advisors Inc. bought a new stake in La-Z-Boy during the fourth quarter worth about $4,554,000. Vident Advisory LLC bought a new stake in La-Z-Boy during the fourth quarter worth about $565,000. Finally, State of Tennessee Department of Treasury increased its holdings in shares of La-Z-Boy by 11.2% during the fourth quarter. State of Tennessee Department of Treasury now owns 26,240 shares of the company’s stock worth $955,000 after buying an additional 2,653 shares in the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.
Analyst Upgrades and Downgrades
LZB has been the subject of a number of research analyst reports. Wall Street Zen cut shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings upgraded La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.
Insider Activity at La-Z-Boy
In other La-Z-Boy news, VP Raphaell Z. Richmond sold 13,671 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $39.83, for a total value of $544,515.93. Following the transaction, the vice president directly owned 51,695 shares in the company, valued at approximately $2,059,011.85. This trade represents a 20.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jennifer Lynn Mccurry sold 3,715 shares of La-Z-Boy stock in a transaction 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 sale, the chief accounting officer directly owned 16,763 shares of the company’s stock, valued at $688,121.15. This trade represents a 18.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 63,799 shares of company stock worth $2,576,916. Company insiders own 2.66% of the company’s stock.
La-Z-Boy Stock Up 0.4%
Shares of NYSE:LZB opened at $40.11 on Wednesday. The firm has a market cap of $1.60 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.22 and a beta of 1.26. La-Z-Boy Incorporated has a 12 month low of $29.03 and a 12 month high of $44.90. The company’s 50-day moving average price is $37.02 and its two-hundred day moving average price is $36.47.
La-Z-Boy (NYSE:LZB – Get Free Report) last announced 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 the consensus estimate of $569.23 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The company’s revenue was down .1% on a year-over-year basis. As a group, equities analysts predict that La-Z-Boy Incorporated will post 2.98 earnings per share for the current fiscal year.
La-Z-Boy Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, June 2nd were issued a $0.242 dividend. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is currently 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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