Millennium Management LLC Decreases Stock Position in La-Z-Boy Incorporated (NYSE:LZB)

Millennium Management LLC reduced its stake in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 89.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,793 shares of the company's stock after selling 114,598 shares during the period. Millennium Management LLC's holdings in La-Z-Boy were worth $601,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Alliancebernstein L.P. lifted its position in shares of La-Z-Boy by 0.6% during the 4th quarter. Alliancebernstein L.P. now owns 48,545 shares of the company's stock valued at $2,115,000 after buying an additional 301 shares in the last quarter. State of Tennessee Department of Treasury lifted its position in shares of La-Z-Boy by 1.5% during the 4th quarter. State of Tennessee Department of Treasury now owns 24,504 shares of the company's stock valued at $1,068,000 after buying an additional 359 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of La-Z-Boy by 7.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,282 shares of the company's stock valued at $274,000 after buying an additional 457 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in La-Z-Boy by 244.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 658 shares of the company's stock valued at $29,000 after purchasing an additional 467 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in La-Z-Boy by 4.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 13,887 shares of the company's stock valued at $605,000 after purchasing an additional 556 shares during the period. 99.62% of the stock is owned by hedge funds and other institutional investors.

La-Z-Boy Trading Down 2.3%

LZB traded down $0.94 on Wednesday, hitting $40.28. 436,031 shares of the company's stock traded hands, compared to its average volume of 487,260. The company's 50 day simple moving average is $40.47 and its 200-day simple moving average is $42.47. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 13.84 and a beta of 1.31. La-Z-Boy Incorporated has a one year low of $33.34 and a one year high of $48.31.

La-Z-Boy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Tuesday, June 3rd will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Tuesday, June 3rd. La-Z-Boy's payout ratio is 30.24%.

Analyst Upgrades and Downgrades

Separately, 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 note on Friday, April 25th.

La-Z-Boy Company 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.