Ameriprise Financial Inc. Sells 31,908 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Ameriprise Financial Inc. lowered its position in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 15.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 169,088 shares of the company's stock after selling 31,908 shares during the period. Ameriprise Financial Inc. owned 0.41% of La-Z-Boy worth $7,367,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC lifted its position in La-Z-Boy by 244.6% during the third quarter. Barclays PLC now owns 75,256 shares of the company's stock valued at $3,230,000 after purchasing an additional 53,419 shares during the last quarter. KBC Group NV lifted its position in La-Z-Boy by 8.3% during the fourth quarter. KBC Group NV now owns 9,593 shares of the company's stock valued at $418,000 after purchasing an additional 734 shares during the last quarter. abrdn plc lifted its position in La-Z-Boy by 38.1% during the fourth quarter. abrdn plc now owns 347,589 shares of the company's stock valued at $15,148,000 after purchasing an additional 95,812 shares during the last quarter. Verity Asset Management Inc. bought a new stake in La-Z-Boy during the fourth quarter valued at approximately $275,000. Finally, Allspring Global Investments Holdings LLC lifted its position in La-Z-Boy by 67.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 143,949 shares of the company's stock valued at $6,272,000 after purchasing an additional 58,146 shares during the last quarter. Hedge funds and other institutional investors own 99.62% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, KeyCorp upgraded shares of 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.

La-Z-Boy Trading Up 2.9%

Shares of LZB traded up $1.23 during mid-day trading on Tuesday, reaching $43.21. The company's stock had a trading volume of 360,561 shares, compared to its average volume of 486,795. The stock has a market cap of $1.78 billion, a PE ratio of 14.85 and a beta of 1.33. La-Z-Boy Incorporated has a 52 week low of $33.34 and a 52 week high of $48.31. The company's fifty day moving average price is $40.00 and its two-hundred day moving average price is $42.60.

La-Z-Boy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, June 3rd will be issued a $0.22 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.04%. La-Z-Boy's payout ratio is 30.24%.

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.