Brown Advisory Inc. Sells 25,431 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Brown Advisory Inc. trimmed its holdings in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 698,690 shares of the company's stock after selling 25,431 shares during the period. Brown Advisory Inc. owned 1.68% of La-Z-Boy worth $30,442,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LZB. American Century Companies Inc. grew its holdings in La-Z-Boy by 3.0% in the fourth quarter. American Century Companies Inc. now owns 1,149,236 shares of the company's stock valued at $50,072,000 after purchasing an additional 33,416 shares during the period. William Blair Investment Management LLC lifted its stake in La-Z-Boy by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 999,523 shares of the company's stock valued at $43,549,000 after buying an additional 24,125 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of La-Z-Boy by 2.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 960,023 shares of the company's stock valued at $41,828,000 after purchasing an additional 23,329 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of La-Z-Boy by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 801,140 shares of the company's stock worth $34,906,000 after purchasing an additional 22,168 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of La-Z-Boy by 10.7% in the 4th quarter. Northern Trust Corp now owns 487,839 shares of the company's stock worth $21,255,000 after acquiring an additional 46,975 shares during the period. Hedge funds and other institutional investors own 99.62% of the company's stock.

La-Z-Boy Price Performance

La-Z-Boy stock traded down $0.27 during midday trading on Friday, reaching $42.00. The stock had a trading volume of 311,857 shares, compared to its average volume of 486,413. The firm's fifty day simple moving average is $39.22 and its two-hundred day simple moving average is $42.30. La-Z-Boy Incorporated has a twelve month low of $33.34 and a twelve month high of $48.31. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 14.43 and a beta of 1.33.

La-Z-Boy (NYSE:LZB - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. La-Z-Boy had a return on equity of 12.38% and a net margin of 5.92%. The company had revenue of $521.78 million for the quarter, compared to analyst estimates of $516.47 million. As a group, sell-side analysts predict that La-Z-Boy Incorporated will post 2.99 EPS for the current fiscal year.

La-Z-Boy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Tuesday, June 3rd will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Tuesday, June 3rd. La-Z-Boy's dividend payout ratio (DPR) is currently 30.24%.

Analyst Ratings Changes

Separately, KeyCorp upgraded shares of La-Z-Boy from a "sector weight" rating to an "overweight" rating and set a $46.00 price target on the stock in a research report on Friday, April 25th.

La-Z-Boy Profile

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.