Allspring Global Investments Holdings LLC Purchases 393,365 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Allspring Global Investments Holdings LLC increased its stake in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 273.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 537,314 shares of the company's stock after buying an additional 393,365 shares during the period. Allspring Global Investments Holdings LLC owned about 1.30% of La-Z-Boy worth $21,262,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. American Century Companies Inc. grew its position in shares of La-Z-Boy by 3.0% during the 4th quarter. American Century Companies Inc. now owns 1,149,236 shares of the company's stock valued at $50,072,000 after acquiring an additional 33,416 shares during the period. William Blair Investment Management LLC increased its position in La-Z-Boy by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 999,523 shares of the company's stock worth $43,549,000 after buying an additional 24,125 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of La-Z-Boy by 2.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 960,023 shares of the company's stock valued at $41,828,000 after buying an additional 23,329 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of La-Z-Boy by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 801,140 shares of the company's stock valued at $34,906,000 after buying an additional 22,168 shares during the last quarter. Finally, Systematic Financial Management LP grew its stake in shares of La-Z-Boy by 4.0% during the 4th quarter. Systematic Financial Management LP now owns 586,107 shares of the company's stock worth $25,537,000 after acquiring an additional 22,423 shares during the period. Institutional investors own 99.62% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LZB shares. Wall Street Zen downgraded shares of La-Z-Boy from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. KeyCorp upgraded shares of La-Z-Boy from a "sector weight" rating to an "overweight" rating and set a $46.00 price target on the stock in a research note on Friday, April 25th.

La-Z-Boy Stock Up 2.0%

LZB traded up $0.78 during trading on Wednesday, reaching $39.43. 380,927 shares of the company were exchanged, compared to its average volume of 477,469. La-Z-Boy Incorporated has a 12-month low of $35.18 and a 12-month high of $48.31. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 16.71 and a beta of 1.26. The company's 50-day moving average is $40.53 and its two-hundred day moving average is $41.76.

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

La-Z-Boy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Tuesday, June 3rd were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.88 annualized dividend and a yield of 2.23%. La-Z-Boy's payout ratio is presently 44.44%.

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.