Public Sector Pension Investment Board Buys 47,167 Shares of La-Z-Boy Incorporated $LZB

Key Points

• The Public Sector Pension Investment Board increased its stake in La-Z-Boy by 45.2%, owning 151,415 shares valued at approximately $5.9 million as of the latest SEC filing.
• La-Z-Boy's most recent quarterly earnings showed earnings per share (EPS) of $0.92, which fell short of analysts' expectations of $0.93, despite revenues exceeding forecasts at $570.87 million.
• Recent analyst actions include a downgrade by Wall Street Zen from "buy" to "hold," while KeyCorp upgraded La-Z-Boy to "overweight" with a target price of $46.00.

Public Sector Pension Investment Board increased its stake in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 45.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 151,415 shares of the company's stock after buying an additional 47,167 shares during the quarter. Public Sector Pension Investment Board owned 0.37% of La-Z-Boy worth $5,919,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LZB. TD Private Client Wealth LLC boosted its holdings in shares of La-Z-Boy by 22.8% in the 1st quarter. TD Private Client Wealth LLC now owns 1,355 shares of the company's stock worth $53,000 after buying 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% in the 4th quarter. Johnson Financial Group Inc. now owns 1,696 shares of the company's stock worth $80,000 after buying an additional 1,628 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of La-Z-Boy in the 1st quarter worth about $201,000. Bank of Montreal Can purchased a new position in shares of La-Z-Boy in the 4th quarter worth about $203,000. Finally, iSAM Funds UK Ltd purchased a new position in shares of La-Z-Boy in the 4th quarter worth about $205,000. 99.62% of the stock is owned by hedge funds and other institutional investors.

La-Z-Boy Price Performance

Shares of LZB traded up $0.8080 during midday trading on Tuesday, hitting $39.1480. 767,088 shares of the company traded hands, compared to its average volume of 494,461. The stock has a 50-day moving average of $38.14 and a 200-day moving average of $40.23. La-Z-Boy Incorporated has a one year low of $34.89 and a one year high of $48.31. The firm has a market cap of $1.61 billion, a P/E ratio of 16.59 and a beta of 1.26.

La-Z-Boy (NYSE:LZB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.13). La-Z-Boy had a net margin of 4.72% and a return on equity of 12.08%. La-Z-Boy has set its Q2 2026 guidance at EPS. Sell-side analysts forecast that La-Z-Boy Incorporated will post 2.99 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. KeyCorp raised shares of La-Z-Boy from a "sector weight" rating to an "overweight" rating and set a $46.00 price target on the stock in a report on Friday, April 25th. Wall Street Zen downgraded shares of La-Z-Boy from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $44.50.

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.