HighTower Advisors LLC Invests $1.16 Million in La-Z-Boy Incorporated $LZB

Key Points

• HighTower Advisors LLC acquired 29,635 shares of La-Z-Boy Incorporated valued at approximately $1.2 million, increasing its ownership to 0.07% of the company.
• La-Z-Boy reported a quarterly earnings per share (EPS) of $0.47, missing analysts' expectations and reflecting a 0.7% year-over-year revenue decrease.
• The company declared a quarterly dividend of $0.22 per share, representing an annualized yield of 2.4%, to be paid on September 15th.

HighTower Advisors LLC bought a new position in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 29,635 shares of the company's stock, valued at approximately $1,158,000. HighTower Advisors LLC owned 0.07% of La-Z-Boy as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. TD Private Client Wealth LLC boosted its holdings in shares of La-Z-Boy by 22.8% during the 1st quarter. TD Private Client Wealth LLC now owns 1,355 shares of the company's stock worth $53,000 after buying an additional 252 shares during the period. Johnson Financial Group Inc. lifted its position in La-Z-Boy by 2,394.1% during the 4th quarter. Johnson Financial Group Inc. now owns 1,696 shares of the company's stock worth $80,000 after acquiring an additional 1,628 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in La-Z-Boy during the 1st quarter worth $201,000. iSAM Funds UK Ltd bought a new stake in La-Z-Boy during the fourth quarter valued at about $205,000. Finally, Bridgefront Capital LLC acquired a new stake in shares of La-Z-Boy in the fourth quarter valued at about $214,000. Institutional investors own 99.62% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on LZB shares. Zacks Research cut La-Z-Boy from a "hold" rating to a "strong sell" rating in a research report on Friday, August 22nd. Wall Street Zen downgraded La-Z-Boy from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $46.00.

La-Z-Boy Stock Performance

Shares of NYSE:LZB traded down $0.00 during trading on Monday, hitting $36.96. 293,861 shares of the stock were exchanged, compared to its average volume of 675,769. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 16.88 and a beta of 1.23. La-Z-Boy Incorporated has a 1-year low of $31.99 and a 1-year high of $48.31. The company's fifty day simple moving average is $37.68 and its 200-day simple moving average is $39.59.

La-Z-Boy (NYSE:LZB - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The company reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.06). La-Z-Boy had a return on equity of 11.34% and a net margin of 4.35%.The business had revenue of $492.23 million for the quarter, compared to analyst estimates of $502.56 million. During the same quarter in the prior year, the firm earned $0.62 EPS. The firm's quarterly revenue was down .7% on a year-over-year basis. La-Z-Boy has set its Q2 2026 guidance at EPS. On average, research analysts forecast that La-Z-Boy Incorporated will post 2.99 earnings per share for the current fiscal year.

La-Z-Boy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, September 4th. La-Z-Boy's payout ratio is presently 40.18%.

La-Z-Boy Company 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.