Dimensional Fund Advisors LP lowered its holdings in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 2.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,975,857 shares of the company's stock after selling 79,599 shares during the quarter. Dimensional Fund Advisors LP owned 7.17% of La-Z-Boy worth $129,659,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the business. Alliancebernstein L.P. raised its stake in La-Z-Boy by 0.6% during the 4th quarter. Alliancebernstein L.P. now owns 48,545 shares of the company's stock valued at $2,115,000 after purchasing an additional 301 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of La-Z-Boy by 7.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,282 shares of the company's stock valued at $274,000 after buying an additional 457 shares during the period. Smartleaf Asset Management LLC raised its holdings in La-Z-Boy by 244.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 658 shares of the company's stock valued at $29,000 after acquiring an additional 467 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of La-Z-Boy by 4.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 13,887 shares of the company's stock worth $605,000 after acquiring an additional 556 shares during the period. Finally, KBC Group NV grew its holdings in shares of La-Z-Boy by 8.3% during the 4th quarter. KBC Group NV now owns 9,593 shares of the company's stock worth $418,000 after purchasing an additional 734 shares in the last quarter. 99.62% of the stock is owned by institutional investors.
La-Z-Boy Stock Performance
NYSE LZB traded up $0.26 during trading on Thursday, reaching $39.76. 58,745 shares of the company traded hands, compared to its average volume of 485,009. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 13.68 and a beta of 1.31. La-Z-Boy Incorporated has a 1-year low of $32.00 and a 1-year high of $48.31. The stock's 50 day moving average price is $39.70 and its two-hundred day moving average price is $42.25.
La-Z-Boy (NYSE:LZB - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. The company had revenue of $521.78 million for the quarter, compared to the consensus estimate of $516.47 million. La-Z-Boy had a net margin of 5.92% and a return on equity of 12.38%. Equities research analysts expect 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. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.21%. La-Z-Boy's payout ratio is presently 30.24%.
Wall Street Analysts Forecast Growth
Separately, KeyCorp raised 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 report on Friday, April 25th.
View Our Latest Stock Report on La-Z-Boy
La-Z-Boy Profile
(
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.
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