La-Z-Boy Incorporated $LZB Shares Purchased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its La-Z-Boy stake by 1.5%, adding 38,870 shares to own 2.69 million shares valued at approximately $86.6 million. Institutional investors collectively hold 99.62% of the company.
• Analysts have a “Moderate Buy” consensus on LZB, with four Buy ratings and one Hold rating and an average price target of $39.00. The stock recently opened at $40.23, within its 52-week range of $29.03 to $44.90.
• La-Z-Boy reported quarterly EPS of $1.26, well above the $0.82 consensus estimate, while revenue of $570.34 million was roughly in line with expectations. However, insiders sold 66,299 shares worth about $2.68 million over the past 90 days.

Dimensional Fund Advisors LP boosted its stake in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 1.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,694,255 shares of the company's stock after buying an additional 38,870 shares during the period. Dimensional Fund Advisors LP owned 6.58% of La-Z-Boy worth $86,594,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LZB. Vanguard Group Inc. boosted its position in shares of La-Z-Boy by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 4,814,114 shares of the company's stock worth $179,422,000 after purchasing an additional 38,513 shares in the last quarter. M&T Bank Corp bought a new stake in shares of La-Z-Boy in the 4th quarter valued at $18,433,000. SG Americas Securities LLC increased its position in shares of La-Z-Boy by 595.1% in the 4th quarter. SG Americas Securities LLC now owns 148,226 shares of the company's stock valued at $5,524,000 after buying an additional 126,903 shares in the last quarter. William Blair Investment Management LLC raised its stake in La-Z-Boy by 13.1% during the 4th quarter. William Blair Investment Management LLC now owns 719,246 shares of the company's stock worth $26,806,000 after buying an additional 83,149 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in La-Z-Boy during the 1st quarter worth $588,000. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LZB shares. Weiss Ratings raised La-Z-Boy from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, July 1st. Wall Street Zen upgraded La-Z-Boy from a "hold" rating to a "buy" rating in a report on Sunday, July 5th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, La-Z-Boy presently has an average rating of "Moderate Buy" and a consensus price target of $39.00.

La-Z-Boy Price Performance

LZB stock opened at $40.23 on Friday. The stock has a market capitalization of $1.61 billion, a P/E ratio of 16.29, a P/E/G ratio of 1.25 and a beta of 1.25. The business has a 50-day moving average of $38.89 and a 200-day moving average of $36.66. La-Z-Boy Incorporated has a fifty-two week low of $29.03 and a fifty-two week high of $44.90.

La-Z-Boy (NYSE:LZB - Get Free Report) last announced its earnings results on Tuesday, June 16th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.44. The business had revenue of $570.34 million for the quarter, compared to analyst estimates of $569.23 million. La-Z-Boy had a return on equity of 11.97% and a net margin of 4.80%.La-Z-Boy's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 EPS. Equities analysts expect that La-Z-Boy Incorporated will post 2.98 EPS for the current year.

Insider Buying and Selling

In other La-Z-Boy news, VP Raphaell Z. Richmond sold 13,671 shares of La-Z-Boy stock in a transaction on Monday, June 29th. The shares were sold at an average price of $39.83, for a total value of $544,515.93. Following the sale, the vice president directly owned 51,695 shares in the company, valued at approximately $2,059,011.85. The trade was a 20.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael Adam Leggett sold 9,000 shares of La-Z-Boy stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $41.66, for a total transaction of $374,940.00. Following the completion of the sale, the senior vice president owned 47,551 shares in the company, valued at $1,980,974.66. The trade was a 15.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 66,299 shares of company stock valued at $2,677,491 over the last ninety days. Insiders own 3.12% of the company's stock.

About La-Z-Boy

La-Z-Boy Incorporated NYSE: LZB is a leading U.S. manufacturer and marketer of residential furniture, best known for its upholstered recliners, sofas, stationary chairs and sleeper sofas. The company offers a broad range of products in both fabric and leather, complemented by occasional tables, desks, lamps and other home furnishings through its branded retail network.

Founded in 1927 by cousins Edward Knabusch and Edwin Shoemaker in Monroe, Michigan, La-Z-Boy pioneered the modern reclining chair.

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