Balyasny Asset Management L.P. reduced its position in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 88.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,422 shares of the company's stock after selling 273,498 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.09% of La-Z-Boy worth $1,630,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its stake in La-Z-Boy by 244.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 658 shares of the company's stock valued at $29,000 after acquiring an additional 467 shares during the period. Venturi Wealth Management LLC acquired a new position in La-Z-Boy in the fourth quarter valued at approximately $51,000. Johnson Financial Group Inc. boosted its stake in La-Z-Boy by 2,394.1% in the fourth quarter. Johnson Financial Group Inc. now owns 1,696 shares of the company's stock valued at $80,000 after acquiring an additional 1,628 shares during the period. Bank of Montreal Can acquired a new position in La-Z-Boy in the fourth quarter valued at approximately $203,000. Finally, Bayesian Capital Management LP acquired a new position in La-Z-Boy in the fourth quarter valued at approximately $256,000. 99.62% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Separately, KeyCorp upgraded La-Z-Boy from a "sector weight" rating to an "overweight" rating and set a $46.00 target price for the company in a research note on Friday, April 25th.
Check Out Our Latest Report on La-Z-Boy
La-Z-Boy Price Performance
Shares of LZB stock opened at $43.64 on Tuesday. La-Z-Boy Incorporated has a 12-month low of $33.34 and a 12-month high of $48.31. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 15.00 and a beta of 1.33. The business has a 50 day simple moving average of $39.25 and a 200 day simple moving average of $42.35.
La-Z-Boy (NYSE:LZB - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.01. The firm had revenue of $521.78 million during the quarter, compared to the consensus estimate of $516.47 million. La-Z-Boy had a return on equity of 12.38% and a net margin of 5.92%. On average, equities analysts anticipate that La-Z-Boy Incorporated will post 2.99 EPS for the current fiscal year.
La-Z-Boy Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, June 3rd will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Tuesday, June 3rd. La-Z-Boy's dividend payout ratio is presently 30.24%.
La-Z-Boy Company Profile
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Free Report)
La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States, Canada, and internationally. It operates through Wholesale, Retail, Corporate and Other segments. The Wholesale segment manufactures, and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas; and imports, distributes, and retails casegoods (wood) furniture, including occasional pieces, bedroom sets, dining room sets, entertainment centers, and occasional pieces.
Further Reading
Want to see what other hedge funds are holding LZB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for La-Z-Boy Incorporated (NYSE:LZB - Free Report).
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