Nuveen LLC Makes New Investment in La-Z-Boy Incorporated $LZB

Key Points

• Nuveen LLC has acquired a new position in La-Z-Boy, purchasing 274,366 shares valued at approximately $10.7 million, representing 0.66% of the company's stock at the end of the quarter.
• La-Z-Boy's stock opened at $36.54 and has shown volatility, with a market cap of $1.51 billion and a price-to-earnings ratio of 16.69.
• The company's recent earnings report revealed an EPS of $0.47, falling short of the consensus estimate of $0.53, with a year-over-year revenue decline of 0.7%.

Nuveen LLC bought a new stake in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 274,366 shares of the company's stock, valued at approximately $10,725,000. Nuveen LLC owned 0.66% of La-Z-Boy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in shares of La-Z-Boy during the first quarter valued at approximately $232,000. LSV Asset Management increased its stake in shares of La-Z-Boy by 5.0% during the first quarter. LSV Asset Management now owns 1,604,462 shares of the company's stock valued at $62,718,000 after buying an additional 76,925 shares during the period. US Bancorp DE increased its stake in shares of La-Z-Boy by 334.3% during the first quarter. US Bancorp DE now owns 8,725 shares of the company's stock valued at $341,000 after buying an additional 6,716 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of La-Z-Boy during the first quarter valued at approximately $201,000. Finally, Royce & Associates LP purchased a new position in shares of La-Z-Boy during the first quarter valued at approximately $441,000. 99.62% of the stock is owned by hedge funds and other institutional investors.

La-Z-Boy Price Performance

LZB stock traded up $0.06 during midday trading on Monday, hitting $36.64. The stock had a trading volume of 747,285 shares, compared to its average volume of 651,386. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 16.73 and a beta of 1.26. The business has a 50-day moving average of $37.82 and a two-hundred day moving average of $39.89. La-Z-Boy Incorporated has a 52-week low of $31.99 and a 52-week high of $48.31.

La-Z-Boy (NYSE:LZB - Get Free Report) last issued its quarterly earnings results on Tuesday, August 19th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.06). La-Z-Boy had a return on equity of 11.34% and a net margin of 4.35%.The firm had revenue of $492.23 million during the quarter, compared to analysts' expectations of $502.56 million. During the same period in the previous year, the company earned $0.62 earnings per share. La-Z-Boy's revenue for the quarter was down .7% on a year-over-year basis. La-Z-Boy has set its Q2 2026 guidance at EPS. Research analysts predict that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut La-Z-Boy from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $46.00.

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.