Deutsche Bank AG purchased a new stake in La-Z-Boy Incorporated (NYSE:LZB - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 42,731 shares of the company's stock, valued at approximately $1,714,000. Deutsche Bank AG owned 0.11% of La-Z-Boy as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of La-Z-Boy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 4,814,114 shares of the company's stock worth $179,422,000 after acquiring an additional 38,513 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of La-Z-Boy by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,694,255 shares of the company's stock valued at $86,594,000 after acquiring an additional 38,870 shares during the period. Franklin Resources Inc. lifted its position 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 acquiring an additional 358,945 shares in the last quarter. LSV Asset Management lifted its position 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 acquiring an additional 11,983 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in La-Z-Boy by 46.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 895,003 shares of the company's stock worth $33,357,000 after purchasing an additional 283,364 shares during the period. Hedge funds and other institutional investors own 99.62% of the company's stock.
Analysts Set New Price Targets
LZB has been the topic of several research analyst reports. Zacks Research cut shares of La-Z-Boy from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 20th. Wall Street Zen lowered La-Z-Boy from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. KeyCorp decreased their target price on La-Z-Boy from $46.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday, August 20th. Finally, Weiss Ratings downgraded La-Z-Boy from a "buy (b-)" rating to a "hold (c)" rating in a report on Thursday, August 20th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, La-Z-Boy has an average rating of "Hold" and a consensus target price of $39.50.
View Our Latest Analysis on LZB
La-Z-Boy Stock Performance
Shares of NYSE LZB opened at $32.57 on Friday. The business has a 50 day simple moving average of $39.11 and a 200 day simple moving average of $36.65. La-Z-Boy Incorporated has a 52 week low of $29.03 and a 52 week high of $44.90. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 1.10 and a beta of 1.27.
La-Z-Boy (NYSE:LZB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 18th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The business had revenue of $475.69 million for the quarter, compared to the consensus estimate of $501.44 million. La-Z-Boy had a net margin of 3.86% and a return on equity of 11.79%. During the same period in the previous year, the business posted $0.47 EPS. La-Z-Boy's revenue was down 3.4% compared to the same quarter last year. On average, analysts predict that La-Z-Boy Incorporated will post 2.7 EPS for the current year.
La-Z-Boy Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Thursday, September 3rd will be paid a $0.242 dividend. This represents a $0.97 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Thursday, September 3rd. La-Z-Boy's payout ratio is presently 49.24%.
Insider Activity at La-Z-Boy
In other news, SVP Michael Adam Leggett sold 9,000 shares of the company's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $41.66, for a total transaction of $374,940.00. Following the completion of the sale, the senior vice president owned 47,551 shares in the company, valued at approximately $1,980,974.66. This represents a 15.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Melinda D. Whittington sold 26,639 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 316,038 shares in the company, valued at approximately $12,717,369.12. This represents a 7.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 66,299 shares of company stock valued at $2,677,491. Insiders own 3.12% of the company's stock.
La-Z-Boy Profile
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Free Report)
La-Z-Boy Incorporated NYSE: LZB is a leading U.S. manufacturer and marketer of residential furniture, best known for its upholstered recliners, sofas, stationary chairs and sleeper sofas. The company offers a broad range of products in both fabric and leather, complemented by occasional tables, desks, lamps and other home furnishings through its branded retail network.
Founded in 1927 by cousins Edward Knabusch and Edwin Shoemaker in Monroe, Michigan, La-Z-Boy pioneered the modern reclining chair.
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