La-Z-Boy Incorporated (NYSE:LZB) Shares Sold by KBC Group NV

KBC Group NV lessened its stake in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 76.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,238 shares of the company's stock after selling 7,355 shares during the period. KBC Group NV's holdings in La-Z-Boy were worth $87,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its stake in shares of La-Z-Boy by 244.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 658 shares of the company's stock worth $29,000 after acquiring an additional 467 shares during the last quarter. Johnson Financial Group Inc. grew its position in La-Z-Boy by 2,394.1% during the 4th quarter. Johnson Financial Group Inc. now owns 1,696 shares of the company's stock worth $80,000 after purchasing an additional 1,628 shares during the last quarter. Bank of Montreal Can purchased a new stake in La-Z-Boy during the 4th quarter worth approximately $203,000. iSAM Funds UK Ltd purchased a new stake in La-Z-Boy during the 4th quarter worth approximately $205,000. Finally, Bridgefront Capital LLC purchased a new stake in La-Z-Boy during the 4th quarter worth approximately $214,000. Hedge funds and other institutional investors own 99.62% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LZB. Wall Street Zen downgraded shares of La-Z-Boy from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. KeyCorp raised shares of 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.

La-Z-Boy Stock Performance

NYSE LZB traded up $0.11 during trading hours on Thursday, reaching $40.05. The stock had a trading volume of 519,690 shares, compared to its average volume of 478,315. The stock has a fifty day moving average of $40.58 and a 200 day moving average of $41.58. The stock has a market cap of $1.64 billion, a P/E ratio of 16.97 and a beta of 1.26. La-Z-Boy Incorporated has a 52-week low of $35.18 and a 52-week high of $48.31.

La-Z-Boy (NYSE:LZB - Get Free Report) last issued its earnings results on Tuesday, June 17th. The company reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.01). The firm had revenue of $570.87 million during the quarter, compared to analysts' expectations of $557.44 million. La-Z-Boy had a net margin of 4.72% and a return on equity of 12.08%. La-Z-Boy's quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 EPS. On average, equities research analysts forecast 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 given a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 2.20%. La-Z-Boy's dividend payout ratio is currently 37.29%.

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.