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

Allspring Global Investments Holdings LLC boosted its stake in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 273.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 537,314 shares of the company's stock after purchasing 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of LZB. Wellington Management Group LLP lifted its position in La-Z-Boy by 321.1% during the fourth quarter. Wellington Management Group LLP now owns 311,578 shares of the company's stock valued at $13,575,000 after purchasing an additional 237,578 shares in the last quarter. Norges Bank purchased a new position in shares of La-Z-Boy in the fourth quarter valued at about $5,786,000. Teacher Retirement System of Texas lifted its position in shares of La-Z-Boy by 338.4% in the fourth quarter. Teacher Retirement System of Texas now owns 163,713 shares of the company's stock valued at $7,133,000 after acquiring an additional 126,371 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of La-Z-Boy in the fourth quarter valued at about $4,500,000. Finally, JPMorgan Chase & Co. lifted its position in shares of La-Z-Boy by 40.5% in the fourth quarter. JPMorgan Chase & Co. now owns 291,912 shares of the company's stock valued at $12,719,000 after acquiring an additional 84,180 shares in the last quarter. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

La-Z-Boy Price Performance

Shares of LZB traded up $0.16 during mid-day trading on Friday, reaching $39.58. 249,618 shares of the company's stock traded hands, compared to its average volume of 478,201. The stock has a market cap of $1.62 billion, a P/E ratio of 16.77 and a beta of 1.26. The stock's 50-day moving average is $40.59 and its two-hundred day moving average is $41.67. La-Z-Boy Incorporated has a 12 month low of $35.18 and a 12 month high of $48.31.

La-Z-Boy (NYSE:LZB - Get Free Report) last released 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 business had revenue of $570.87 million for the quarter, compared to the consensus estimate of $557.44 million. La-Z-Boy had a net margin of 4.72% and a return on equity of 12.08%. The company's quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.95 EPS. Research analysts predict that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.

La-Z-Boy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $0.22 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.22%. La-Z-Boy's dividend payout ratio is 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.