Nuveen Asset Management LLC Cuts Holdings in La-Z-Boy Incorporated (NYSE:LZB)

Nuveen Asset Management LLC reduced its holdings in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 16.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 276,522 shares of the company's stock after selling 53,501 shares during the period. Nuveen Asset Management LLC owned approximately 0.67% of La-Z-Boy worth $12,048,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of LZB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in La-Z-Boy by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,067 shares of the company's stock worth $1,049,000 after purchasing an additional 917 shares during the period. Lazard Asset Management LLC raised its holdings in La-Z-Boy by 164.4% in the fourth quarter. Lazard Asset Management LLC now owns 56,060 shares of the company's stock worth $2,442,000 after purchasing an additional 34,858 shares during the period. Jefferies Financial Group Inc. acquired a new stake in La-Z-Boy in the fourth quarter worth $929,000. D. E. Shaw & Co. Inc. raised its holdings in La-Z-Boy by 6.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 44,692 shares of the company's stock worth $1,947,000 after purchasing an additional 2,792 shares during the period. Finally, Deutsche Bank AG raised its holdings in La-Z-Boy by 48.5% in the fourth quarter. Deutsche Bank AG now owns 35,590 shares of the company's stock worth $1,551,000 after purchasing an additional 11,622 shares during the period. 99.62% of the stock is currently owned by institutional investors and hedge funds.

La-Z-Boy Price Performance

LZB stock traded down $0.24 during midday trading on Friday, hitting $41.91. The company's stock had a trading volume of 447,080 shares, compared to its average volume of 485,999. La-Z-Boy Incorporated has a twelve month low of $33.34 and a twelve month high of $48.31. The company's fifty day moving average price is $40.16 and its 200 day moving average price is $42.58. The stock has a market capitalization of $1.73 billion, a P/E ratio of 14.40 and a beta of 1.33.

La-Z-Boy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Tuesday, June 3rd. La-Z-Boy's dividend payout ratio (DPR) is presently 30.24%.

Analysts Set New Price Targets

Separately, KeyCorp upgraded shares of 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 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.