Rhumbline Advisers Purchases 14,443 Shares of La-Z-Boy Incorporated $LZB

Key Points

• Rhumbline Advisers has increased its stake in La-Z-Boy Incorporated by 9.0%, holding 174,735 shares valued at approximately $6.83 million.
• A number of other institutional investors have also significantly increased their stakes in La-Z-Boy, with ownership by institutional investors and hedge funds now at 99.62%.
• La-Z-Boy announced a quarterly dividend of $0.22 per share, representing an annualized dividend yield of 2.6% and a payout ratio of 40.18%.

Rhumbline Advisers boosted its position in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 9.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,735 shares of the company's stock after purchasing an additional 14,443 shares during the quarter. Rhumbline Advisers owned about 0.42% of La-Z-Boy worth $6,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of LZB. Allspring Global Investments Holdings LLC lifted its stake in La-Z-Boy by 273.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 537,314 shares of the company's stock worth $21,262,000 after purchasing an additional 393,365 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in La-Z-Boy by 68.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 881,692 shares of the company's stock worth $34,466,000 after purchasing an additional 359,736 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in La-Z-Boy in the 1st quarter worth approximately $10,806,000. Nuveen LLC bought a new position in shares of La-Z-Boy in the 1st quarter worth $10,725,000. Finally, Wellington Management Group LLP increased its holdings in shares of La-Z-Boy by 321.1% in the 4th quarter. Wellington Management Group LLP now owns 311,578 shares of the company's stock worth $13,575,000 after buying an additional 237,578 shares during the last quarter. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

La-Z-Boy Stock Performance

Shares of LZB stock traded up $0.26 on Monday, hitting $33.95. 666,111 shares of the company's stock traded hands, compared to its average volume of 671,120. La-Z-Boy Incorporated has a one year low of $31.99 and a one year high of $48.31. The company's fifty day simple moving average is $37.03 and its 200 day simple moving average is $38.88. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 15.50 and a beta of 1.23.

La-Z-Boy (NYSE:LZB - Get Free Report) last released its earnings results on Tuesday, August 19th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.06). La-Z-Boy had a net margin of 4.35% and a return on equity of 11.34%. The business had revenue of $492.23 million for the quarter, compared to the consensus estimate of $502.56 million. During the same period in the prior year, the business posted $0.62 EPS. 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. As a group, sell-side analysts anticipate that La-Z-Boy Incorporated will post 2.99 earnings per share for the current fiscal year.

La-Z-Boy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, September 4th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 2.6%. La-Z-Boy's dividend payout ratio (DPR) is currently 40.18%.

Insider Activity at La-Z-Boy

In related news, Director Janet Kerr sold 3,372 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $35.70, for a total transaction of $120,380.40. Following the transaction, the director owned 3,653 shares of the company's stock, valued at approximately $130,412.10. This trade represents a 48.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.66% of the company's stock.

Analyst Upgrades and Downgrades

LZB has been the topic of a number of research analyst reports. Zacks Research lowered shares of La-Z-Boy from a "hold" rating to a "strong sell" rating in a report on Friday, August 22nd. Wall Street Zen lowered shares of La-Z-Boy from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" 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.