GW&K Investment Management LLC Decreases Stock Holdings in La-Z-Boy Incorporated (NYSE:LZB)

GW&K Investment Management LLC decreased its holdings in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 427,072 shares of the company's stock after selling 17,999 shares during the quarter. GW&K Investment Management LLC owned 1.03% of La-Z-Boy worth $16,694,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of LZB. Raymond James Financial Inc. bought a new stake in shares of La-Z-Boy in the fourth quarter worth approximately $619,000. American Century Companies Inc. boosted its holdings in La-Z-Boy by 3.0% in the fourth quarter. American Century Companies Inc. now owns 1,149,236 shares of the company's stock worth $50,072,000 after purchasing an additional 33,416 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in La-Z-Boy in the 4th quarter worth approximately $349,000. Fox Run Management L.L.C. purchased a new stake in La-Z-Boy during the 4th quarter valued at $638,000. Finally, JPMorgan Chase & Co. raised its stake in La-Z-Boy by 40.5% during the 4th quarter. JPMorgan Chase & Co. now owns 291,912 shares of the company's stock valued at $12,719,000 after buying an additional 84,180 shares during the last quarter. Hedge funds and other institutional investors own 99.62% of the company's stock.

La-Z-Boy Stock Up 0.9%

LZB traded up $0.36 during midday trading on Friday, reaching $38.35. The company had a trading volume of 338,128 shares, compared to its average volume of 421,388. The business has a 50-day moving average of $39.64 and a two-hundred day moving average of $41.16. La-Z-Boy Incorporated has a 1 year low of $35.18 and a 1 year high of $48.31. The company has a market cap of $1.58 billion, a P/E ratio of 16.25 and a beta of 1.26.

La-Z-Boy (NYSE:LZB - Get Free Report) last released its earnings results on Tuesday, June 17th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.01). La-Z-Boy had a return on equity of 12.08% and a net margin of 4.72%. The firm had revenue of $570.87 million during the quarter, compared to analysts' expectations of $557.44 million. During the same period in the prior year, the company posted $0.95 earnings per share. The company's revenue was up 3.1% compared to the same quarter last year. On average, equities research analysts predict that La-Z-Boy Incorporated will post 2.99 EPS for the current year.

La-Z-Boy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Tuesday, June 3rd were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Tuesday, June 3rd. La-Z-Boy's dividend payout ratio is currently 37.29%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LZB. Wall Street Zen downgraded La-Z-Boy from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. KeyCorp raised La-Z-Boy from a "sector weight" rating to an "overweight" rating and set a $46.00 target price on the stock in a research report on Friday, April 25th.

About La-Z-Boy

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.