KBC Group NV Decreases Stock Holdings in La-Z-Boy Incorporated (NYSE:LZB)

KBC Group NV cut its stake in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 76.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 SEC filing.

A number of other large investors have also made changes to their positions in LZB. Smartleaf Asset Management LLC increased its holdings 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 acquiring an additional 467 shares during the last quarter. Johnson Financial Group Inc. lifted its position in shares of La-Z-Boy by 2,394.1% in the fourth quarter. Johnson Financial Group Inc. now owns 1,696 shares of the company's stock worth $80,000 after buying an additional 1,628 shares in the last quarter. Bank of Montreal Can purchased a new stake in La-Z-Boy during the fourth quarter valued at $203,000. iSAM Funds UK Ltd bought a new position in La-Z-Boy during the fourth quarter valued at $205,000. Finally, Bridgefront Capital LLC bought a new stake in La-Z-Boy during the fourth quarter worth approximately $214,000. 99.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LZB has been the topic of several analyst reports. 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. Wall Street Zen downgraded shares of La-Z-Boy from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd.

La-Z-Boy Stock Up 1.6%

LZB traded up $0.64 during trading hours on Thursday, reaching $40.58. 205,302 shares of the company's stock traded hands, compared to its average volume of 476,921. The firm has a 50-day moving average price of $40.58 and a 200 day moving average price of $41.61. La-Z-Boy Incorporated has a 52-week low of $35.18 and a 52-week high of $48.31. The firm has a market capitalization of $1.66 billion, a PE ratio of 17.20 and a beta of 1.26.

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

La-Z-Boy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Tuesday, June 3rd were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Tuesday, June 3rd. La-Z-Boy's dividend payout ratio (DPR) is 37.29%.

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.