Empowered Funds LLC purchased a new position in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 151,971 shares of the company's stock, valued at approximately $4,884,000. Empowered Funds LLC owned about 0.37% of La-Z-Boy as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently bought and sold shares of LZB. Quarry LP increased its stake in La-Z-Boy by 4,785.7% in the fourth quarter. Quarry LP now owns 684 shares of the company's stock worth $25,000 after purchasing an additional 670 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of La-Z-Boy by 290.0% during the second quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company's stock worth $33,000 after purchasing an additional 670 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of La-Z-Boy by 99.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company's stock valued at $42,000 after purchasing an additional 567 shares during the period. Rockefeller Capital Management L.P. boosted its stake in shares of La-Z-Boy by 159.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company's stock valued at $43,000 after purchasing an additional 713 shares during the period. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of La-Z-Boy by 3,130.8% in the third quarter. CIBC Private Wealth Group LLC now owns 1,260 shares of the company's stock worth $43,000 after purchasing an additional 1,221 shares during the last quarter. Hedge funds and other institutional investors own 99.62% of the company's stock.
La-Z-Boy Stock Performance
Shares of LZB opened at $39.37 on Monday. The stock has a market capitalization of $1.58 billion, a PE ratio of 15.94, a PEG ratio of 1.20 and a beta of 1.27. The company has a 50 day moving average price of $38.94 and a 200-day moving average price of $36.66. La-Z-Boy Incorporated has a fifty-two week low of $29.03 and a fifty-two week high of $44.90.
La-Z-Boy (NYSE:LZB - Get Free Report) last issued its quarterly earnings data on Tuesday, June 16th. The company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.44. The company had revenue of $570.34 million during the quarter, compared to the consensus estimate of $569.23 million. La-Z-Boy had a net margin of 4.80% and a return on equity of 11.97%. La-Z-Boy's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Equities research analysts forecast that La-Z-Boy Incorporated will post 2.98 EPS for the current year.
Insider Transactions at La-Z-Boy
In other news, VP Raphaell Z. Richmond sold 13,671 shares of the business's stock in a transaction 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 completion of the transaction, the vice president directly owned 51,695 shares of the company's stock, valued at approximately $2,059,011.85. The trade was a 20.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Melinda D. Whittington sold 26,639 shares of the company's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $40.24, for a total value of $1,071,953.36. Following the sale, the chief executive officer owned 316,038 shares of the company's stock, valued at $12,717,369.12. This trade represents a 7.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 66,299 shares of company stock worth $2,677,491. Company insiders own 3.12% of the company's stock.
Analyst Upgrades and Downgrades
LZB has been the topic of several recent analyst reports. Weiss Ratings raised shares of La-Z-Boy from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, July 1st. Wall Street Zen upgraded shares of La-Z-Boy from a "hold" rating to a "buy" rating in a research note on Sunday, July 5th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $39.00.
View Our Latest Stock Analysis on LZB
La-Z-Boy Profile
(
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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