Intech Investment Management LLC Purchases 39,170 Shares of La-Z-Boy Incorporated $LZB

Key Points

• Intech Investment Management LLC significantly increased its stake in La-Z-Boy by 101.4%, owning 77,806 shares valued at approximately $3.04 million after acquiring an additional 39,170 shares.
• La-Z-Boy's recent earnings report showed a missed earnings per share estimate of $0.47 compared to the expected $0.53, with a year-over-year revenue decrease of 0.7%.
• The company recently declared a quarterly dividend of $0.22 per share, resulting in an annualized dividend of $0.88 and a yield of 2.6%.

Intech Investment Management LLC raised its position in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 101.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,806 shares of the company's stock after purchasing an additional 39,170 shares during the period. Intech Investment Management LLC owned 0.19% of La-Z-Boy worth $3,041,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. TD Private Client Wealth LLC boosted its holdings in La-Z-Boy by 22.8% in the 1st quarter. TD Private Client Wealth LLC now owns 1,355 shares of the company's stock valued at $53,000 after purchasing an additional 252 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of La-Z-Boy by 317.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company's stock worth $71,000 after acquiring an additional 1,382 shares during the last quarter. iSAM Funds UK Ltd bought a new stake in shares of La-Z-Boy during the 4th quarter worth $205,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of La-Z-Boy during the 1st quarter worth $201,000. Finally, State of Wyoming lifted its holdings in shares of La-Z-Boy by 271.4% during the 1st quarter. State of Wyoming now owns 5,430 shares of the company's stock worth $212,000 after acquiring an additional 3,968 shares during the last quarter. 99.62% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Janet Kerr sold 3,372 shares of the business's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $35.70, for a total transaction of $120,380.40. Following the sale, the director owned 3,653 shares of the company's stock, valued at $130,412.10. The trade was a 48.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.66% of the stock is owned by insiders.

La-Z-Boy Trading Down 3.7%

Shares of LZB opened at $33.72 on Monday. The firm's 50-day moving average price is $37.13 and its 200-day moving average price is $38.96. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 15.39 and a beta of 1.23. La-Z-Boy Incorporated has a 1-year low of $31.99 and a 1-year high of $48.31.

La-Z-Boy (NYSE:LZB - Get Free Report) last announced its earnings results on Tuesday, August 19th. The company reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.06). La-Z-Boy had a net margin of 4.35% and a return on equity of 11.34%. The company had revenue of $492.23 million for the quarter, compared to the consensus estimate of $502.56 million. During the same period in the previous year, the firm posted $0.62 EPS. The company's revenue for the quarter was down .7% on a year-over-year basis. La-Z-Boy has set its Q2 2026 guidance at EPS. On average, research analysts forecast that La-Z-Boy Incorporated will post 2.99 EPS for the current fiscal year.

La-Z-Boy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, September 4th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $0.88 annualized dividend and a yield of 2.6%. La-Z-Boy's payout ratio is presently 40.18%.

Analysts Set New Price Targets

LZB has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of La-Z-Boy from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Zacks Research downgraded shares of La-Z-Boy from a "hold" rating to a "strong sell" rating in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, La-Z-Boy currently has an average rating of "Hold" and a consensus price target of $46.00.

La-Z-Boy 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.

Want to see what other hedge funds are holding LZB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for La-Z-Boy Incorporated (NYSE:LZB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.