Hsbc Holdings PLC acquired a new position in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 38,535 shares of the company's stock, valued at approximately $1,546,000. Hsbc Holdings PLC owned about 0.10% of La-Z-Boy as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of La-Z-Boy during the second quarter worth about $265,535,000. Dimensional Fund Advisors LP lifted its position in La-Z-Boy by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,694,255 shares of the company's stock worth $86,594,000 after acquiring an additional 38,870 shares during the period. Franklin Resources Inc. grew its stake in shares of La-Z-Boy by 24.0% in the 4th quarter. Franklin Resources Inc. now owns 1,851,873 shares of the company's stock valued at $69,019,000 after purchasing an additional 358,945 shares during the last quarter. LSV Asset Management grew its stake in shares of La-Z-Boy by 0.8% in the 4th quarter. LSV Asset Management now owns 1,476,882 shares of the company's stock valued at $55,043,000 after purchasing an additional 11,983 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in shares of La-Z-Boy by 46.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 895,003 shares of the company's stock valued at $33,357,000 after purchasing an additional 283,364 shares during the period. 99.62% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, VP Raphaell Z. Richmond sold 13,671 shares of the company's stock in a transaction that occurred 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 sale, the vice president owned 51,695 shares in the company, valued at $2,059,011.85. This represents a 20.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Melinda D. Whittington sold 26,639 shares of the firm's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $40.24, for a total value of $1,071,953.36. Following the completion of the transaction, the chief executive officer directly owned 316,038 shares of the company's stock, valued at $12,717,369.12. The trade was a 7.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 69,952 shares of company stock valued at $2,793,474 in the last 90 days. 3.12% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on LZB. Zacks Research cut La-Z-Boy from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 20th. Wall Street Zen cut shares of La-Z-Boy from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings downgraded shares of La-Z-Boy from a "buy (b-)" rating to a "hold (c)" rating in a research report on Thursday, August 20th. Finally, KeyCorp reduced their target price on shares of La-Z-Boy from $46.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, August 20th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, La-Z-Boy currently has an average rating of "Hold" and an average target price of $39.50.
Get Our Latest Report on La-Z-Boy
La-Z-Boy Price Performance
Shares of LZB stock opened at $30.72 on Friday. The business's fifty day moving average price is $37.38 and its 200 day moving average price is $36.24. The firm has a market capitalization of $1.23 billion, a PE ratio of 15.59, a P/E/G ratio of 1.10 and a beta of 1.23. La-Z-Boy Incorporated has a 1-year low of $29.03 and a 1-year high of $44.90.
La-Z-Boy (NYSE:LZB - Get Free Report) last issued its earnings results on Tuesday, August 18th. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). La-Z-Boy had a return on equity of 11.79% and a net margin of 3.86%.The company had revenue of $475.69 million for the quarter, compared to analysts' expectations of $501.44 million. During the same quarter in the previous year, the firm posted $0.47 earnings per share. La-Z-Boy's revenue for the quarter was down 3.4% on a year-over-year basis. Equities research analysts expect that La-Z-Boy Incorporated will post 2.53 earnings per share for the current fiscal year.
La-Z-Boy Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Thursday, September 3rd will be given a dividend of $0.242 per share. This represents a $0.97 annualized dividend and a yield of 3.2%. The ex-dividend date is Thursday, September 3rd. La-Z-Boy's dividend payout ratio is presently 49.24%.
About La-Z-Boy
(
Free Report)
La-Z-Boy Incorporated is a residential furniture manufacturer and retailer best known for its upholstered recliners. The company offers a broad range of furniture for living rooms, family rooms, bedrooms and other areas of the home, including recliners, sofas, sectionals, chairs, ottomans, tables, beds and complementary home furnishings.
Founded in 1927 in Monroe, Michigan, La-Z-Boy built its reputation around its reclining chair and has expanded into a full-service home furnishings company.
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