Rhumbline Advisers Acquires 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 grew its stake in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 9.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 174,735 shares of the company's stock after buying an additional 14,443 shares during the quarter. Rhumbline Advisers owned 0.42% of La-Z-Boy worth $6,830,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TD Private Client Wealth LLC boosted its holdings in shares of La-Z-Boy by 22.8% in the first quarter. TD Private Client Wealth LLC now owns 1,355 shares of the company's stock valued at $53,000 after buying an additional 252 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in shares of La-Z-Boy by 317.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company's stock worth $71,000 after purchasing an additional 1,382 shares in the last quarter. iSAM Funds UK Ltd bought a new stake in shares of La-Z-Boy in the fourth quarter worth $205,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of La-Z-Boy in the first quarter worth $201,000. Finally, State of Wyoming lifted its position in shares of La-Z-Boy by 271.4% in the first quarter. State of Wyoming now owns 5,430 shares of the company's stock worth $212,000 after purchasing an additional 3,968 shares in the last quarter. Institutional investors and hedge funds own 99.62% of the company's stock.

Insider Buying and Selling

In related news, Director Janet Kerr sold 3,372 shares of the firm's stock in a transaction dated 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 directly owned 3,653 shares of the company's stock, valued at approximately $130,412.10. This trade represents a 48.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.66% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wall Street Zen lowered shares of La-Z-Boy from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Zacks Research lowered shares of La-Z-Boy from a "hold" rating to a "strong sell" rating in a research report on Friday, August 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, La-Z-Boy currently has an average rating of "Hold" and an average target price of $46.00.

La-Z-Boy Stock Up 1.4%

Shares of NYSE LZB traded up $0.48 during mid-day trading on Thursday, reaching $34.25. 167,139 shares of the company were exchanged, compared to its average volume of 515,301. The company's 50-day simple moving average is $36.80 and its 200-day simple moving average is $38.81. The stock has a market capitalization of $1.41 billion, a P/E ratio of 15.64 and a beta of 1.23. La-Z-Boy Incorporated has a twelve month low of $31.99 and a twelve month high of $48.31.

La-Z-Boy (NYSE:LZB - Get Free Report) last posted its earnings results on Tuesday, August 19th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.06). The company had revenue of $492.23 million for the quarter, compared to analyst estimates of $502.56 million. La-Z-Boy had a return on equity of 11.34% and a net margin of 4.35%.The business's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.62 EPS. La-Z-Boy has set its Q2 2026 guidance at EPS. As a group, equities research analysts expect that La-Z-Boy Incorporated will post 2.99 EPS for the current year.

La-Z-Boy Dividend Announcement

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

About La-Z-Boy

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.