La-Z-Boy Incorporated (NYSE:LZB) Shares Acquired by US Bancorp DE

Key Points

• US Bancorp DE significantly increased its shares in La-Z-Boy by 334.3%, now holding 8,725 shares valued at approximately $341,000.
• Various hedge funds are also boosting their stakes in La-Z-Boy, with noted increases including a 2,394.1% rise from Johnson Financial Group Inc. during the fourth quarter.
• La-Z-Boy's recent earnings report showed a slight miss in EPS compared to consensus estimates, reporting $0.92 per share against an expected $0.93, while revenue increased by 3.1% year-over-year.

US Bancorp DE lifted its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 334.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,725 shares of the company's stock after purchasing an additional 6,716 shares during the quarter. US Bancorp DE's holdings in La-Z-Boy were worth $341,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in LZB. TD Private Client Wealth LLC boosted its holdings in shares of La-Z-Boy by 22.8% during the first quarter. TD Private Client Wealth LLC now owns 1,355 shares of the company's stock worth $53,000 after purchasing an additional 252 shares during the last quarter. Johnson Financial Group Inc. boosted its holdings in shares of La-Z-Boy by 2,394.1% during the fourth 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. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of La-Z-Boy during the first quarter worth $201,000. Bank of Montreal Can acquired a new stake in shares of La-Z-Boy during the fourth quarter worth $203,000. Finally, iSAM Funds UK Ltd acquired a new stake in shares of La-Z-Boy during the fourth quarter worth $205,000. Institutional investors and hedge funds own 99.62% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wall Street Zen cut La-Z-Boy from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. KeyCorp upgraded La-Z-Boy from a "sector weight" rating to an "overweight" rating and set a $46.00 target price on the stock in a report on Friday, April 25th.

La-Z-Boy Trading Up 3.1%

Shares of La-Z-Boy stock opened at $39.28 on Thursday. La-Z-Boy Incorporated has a twelve month low of $34.89 and a twelve month high of $48.31. The stock has a market capitalization of $1.62 billion, a P/E ratio of 16.64 and a beta of 1.26. The business's fifty day moving average price is $38.26 and its 200 day moving average price is $40.48.

La-Z-Boy (NYSE:LZB - Get Free Report) last issued 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). The firm had revenue of $570.87 million during the quarter, compared to analyst estimates 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 revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.95 EPS. As a group, sell-side analysts predict that La-Z-Boy Incorporated will post 2.99 EPS for the current year.

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.

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