Allspring Global Investments Holdings LLC increased its position in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 13.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 607,633 shares of the company's stock after buying an additional 70,319 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.48% of La-Z-Boy worth $23,485,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of LZB. GAMMA Investing LLC grew its holdings in shares of La-Z-Boy by 116.9% during the second quarter. GAMMA Investing LLC now owns 746 shares of the company's stock worth $28,000 after buying an additional 402 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in shares of La-Z-Boy by 22.8% during the first 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 in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of La-Z-Boy by 317.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company's stock worth $71,000 after buying an additional 1,382 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of La-Z-Boy during the first quarter worth about $201,000. Finally, State of Wyoming grew its holdings in shares of La-Z-Boy by 271.4% during the first quarter. State of Wyoming now owns 5,430 shares of the company's stock worth $212,000 after buying an additional 3,968 shares in the last quarter. 99.62% of the stock is currently owned by institutional investors.
Insider Activity
In other news, Director Janet Kerr sold 3,372 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $35.70, for a total value of $120,380.40. Following the completion of the sale, the director directly owned 3,653 shares of the company's stock, valued at $130,412.10. This trade represents a 48.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.66% of the stock is currently owned by insiders.
Analyst Ratings Changes
LZB has been the subject of a number of research reports. Zacks Research downgraded La-Z-Boy from a "hold" rating to a "strong sell" rating in a report on Friday, August 22nd. Wall Street Zen downgraded La-Z-Boy from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of La-Z-Boy in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, La-Z-Boy currently has an average rating of "Hold" and an average price target of $46.00.
Get Our Latest Stock Analysis on La-Z-Boy
La-Z-Boy Stock Down 1.1%
LZB stock opened at $31.77 on Friday. The business has a 50 day moving average price of $35.06 and a two-hundred day moving average price of $37.86. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 14.51 and a beta of 1.23. La-Z-Boy Incorporated has a twelve month low of $31.42 and a twelve month high of $48.31.
La-Z-Boy (NYSE:LZB - Get Free Report) last released its quarterly earnings data on Tuesday, August 19th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.06). La-Z-Boy had a net margin of 4.35% and a return on equity of 11.34%. The business had revenue of $492.23 million during the quarter, compared to analyst estimates of $502.56 million. During the same period in the previous year, the business earned $0.62 earnings per share. The business'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, equities research analysts anticipate that La-Z-Boy Incorporated will post 2.99 EPS for the current fiscal year.
La-Z-Boy Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Thursday, September 4th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, September 4th. La-Z-Boy's dividend payout ratio (DPR) is presently 40.18%.
About La-Z-Boy
(
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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