Invesco Ltd. Sells 18,974 Shares of La-Z-Boy Incorporated $LZB

Key Points

• Invesco Ltd. has reduced its stake in La-Z-Boy Incorporated by 5.6%, now holding approximately 319,192 shares worth about $12.48 million.
• Several other institutional investors have increased their positions significantly, with Allspring Global Investments boosting its holdings by 273.3% in the first quarter.
• La-Z-Boy's recent earnings report revealed an EPS of $0.47, falling short of estimates, while revenue totaled $492.23 million, which is down compared to the previous year.

Invesco Ltd. cut its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 5.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 319,192 shares of the company's stock after selling 18,974 shares during the period. Invesco Ltd. owned about 0.77% of La-Z-Boy worth $12,477,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. LSV Asset Management lifted its stake in La-Z-Boy by 5.0% during the first quarter. LSV Asset Management now owns 1,604,462 shares of the company's stock worth $62,718,000 after purchasing an additional 76,925 shares during the last quarter. US Bancorp DE lifted its stake in La-Z-Boy by 334.3% during the first quarter. US Bancorp DE now owns 8,725 shares of the company's stock worth $341,000 after purchasing an additional 6,716 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in La-Z-Boy during the first quarter worth $201,000. Royce & Associates LP bought a new stake in La-Z-Boy during the first quarter worth $441,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in La-Z-Boy by 1.8% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 105,118 shares of the company's stock worth $4,109,000 after purchasing an additional 1,839 shares during the last quarter. 99.62% of the stock is currently owned by institutional investors.

La-Z-Boy Stock Down 0.0%

Shares of LZB stock traded down $0.00 during trading hours on Friday, hitting $36.96. 293,861 shares of the company's stock traded hands, compared to its average volume of 684,844. The stock's 50 day simple moving average is $37.70 and its 200 day simple moving average is $39.73. The stock has a market cap of $1.52 billion, a PE ratio of 16.88 and a beta of 1.26. La-Z-Boy Incorporated has a 12 month low of $31.99 and a 12 month high of $48.31.

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

La-Z-Boy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders 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 dividend yield of 2.4%. La-Z-Boy's dividend payout ratio (DPR) is presently 40.18%.

Analysts Set New Price Targets

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

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.