GAMMA Investing LLC Raises Stake in La-Z-Boy Incorporated (NYSE:LZB)

GAMMA Investing LLC lifted its position in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 6,396.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,447 shares of the company's stock after buying an additional 13,240 shares during the quarter. GAMMA Investing LLC's holdings in La-Z-Boy were worth $526,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. raised its stake in La-Z-Boy by 0.6% in the 4th quarter. Alliancebernstein L.P. now owns 48,545 shares of the company's stock valued at $2,115,000 after purchasing an additional 301 shares during the last quarter. State of Tennessee Department of Treasury raised its stake in La-Z-Boy by 1.5% in the 4th quarter. State of Tennessee Department of Treasury now owns 24,504 shares of the company's stock valued at $1,068,000 after purchasing an additional 359 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in La-Z-Boy by 7.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,282 shares of the company's stock valued at $274,000 after purchasing an additional 457 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in La-Z-Boy by 244.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 658 shares of the company's stock valued at $29,000 after purchasing an additional 467 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in La-Z-Boy by 4.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 13,887 shares of the company's stock valued at $605,000 after purchasing an additional 556 shares during the last quarter. Institutional investors and hedge funds own 99.62% of the company's stock.

La-Z-Boy Trading Down 0.5%

Shares of NYSE LZB traded down $0.21 on Friday, reaching $38.07. 1,111,807 shares of the company traded hands, compared to its average volume of 479,935. La-Z-Boy Incorporated has a fifty-two week low of $35.18 and a fifty-two week high of $48.31. The company has a 50 day moving average of $40.59 and a 200 day moving average of $42.10. The stock has a market capitalization of $1.56 billion, a PE ratio of 19.23 and a beta of 1.31.

La-Z-Boy (NYSE:LZB - Get Free Report) last posted its quarterly earnings data on Tuesday, June 17th. The company reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.01). La-Z-Boy had a net margin of 5.92% and a return on equity of 8.18%. The company had revenue of $570.87 million for the quarter, compared to analyst estimates of $557.44 million. During the same period in the prior year, the company earned $0.95 EPS. The company's revenue was up 3.1% compared to the same quarter last year. As a group, research analysts expect that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.

La-Z-Boy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Tuesday, June 3rd. La-Z-Boy's dividend payout ratio is currently 44.44%.

Analysts Set New Price Targets

LZB has been the subject of several analyst reports. Wall Street Zen downgraded shares of La-Z-Boy from a "buy" rating to a "hold" rating in a research note on Sunday. KeyCorp raised 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 note on Friday, April 25th.

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.