SG Americas Securities LLC lifted its stake in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 595.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 148,226 shares of the company's stock after buying an additional 126,903 shares during the quarter. SG Americas Securities LLC owned approximately 0.36% of La-Z-Boy worth $5,524,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its holdings in La-Z-Boy by 75.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 755 shares of the company's stock valued at $26,000 after acquiring an additional 324 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of La-Z-Boy by 290.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company's stock valued at $33,000 after purchasing an additional 670 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of La-Z-Boy by 99.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company's stock valued at $42,000 after purchasing an additional 567 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of La-Z-Boy by 3,130.8% during the third quarter. CIBC Private Wealth Group LLC now owns 1,260 shares of the company's stock valued at $43,000 after purchasing an additional 1,221 shares in the last quarter. Finally, MAI Capital Management grew its position in shares of La-Z-Boy by 2,520.9% during the third quarter. MAI Capital Management now owns 2,385 shares of the company's stock valued at $82,000 after purchasing an additional 2,294 shares in the last quarter. Institutional investors own 99.62% of the company's stock.
La-Z-Boy Trading Down 0.7%
LZB stock opened at $31.91 on Thursday. La-Z-Boy Incorporated has a 12 month low of $29.03 and a 12 month high of $44.49. The company has a 50-day moving average price of $35.47 and a 200 day moving average price of $35.52. The stock has a market cap of $1.31 billion, a PE ratio of 15.80 and a beta of 1.28.
La-Z-Boy (NYSE:LZB - Get Free Report) last posted its quarterly earnings data on Tuesday, February 17th. The company reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.02. La-Z-Boy had a net margin of 3.93% and a return on equity of 10.79%. The company had revenue of $541.59 million for the quarter, compared to analyst estimates of $535.47 million. During the same period in the prior year, the company posted $0.68 EPS. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts forecast that La-Z-Boy Incorporated will post 2.99 EPS for the current year.
La-Z-Boy Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Tuesday, March 3rd were paid a dividend of $0.242 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, March 3rd. La-Z-Boy's dividend payout ratio (DPR) is currently 48.02%.
Insider Activity
In related news, SVP Michael Adam Leggett sold 2,200 shares of the business's stock in a transaction on Friday, February 20th. The stock was sold at an average price of $37.00, for a total transaction of $81,400.00. Following the completion of the transaction, the senior vice president owned 42,473 shares in the company, valued at $1,571,501. The trade was a 4.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.66% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently commented on LZB. Wall Street Zen upgraded La-Z-Boy from a "hold" rating to a "buy" rating in a research report on Saturday, March 28th. KeyCorp reaffirmed an "overweight" rating on shares of La-Z-Boy in a research note on Wednesday, December 17th. Needham & Company LLC reaffirmed a "buy" rating on shares of La-Z-Boy in a report on Wednesday, December 17th. Weiss Ratings reiterated a "hold (c)" rating on shares of La-Z-Boy in a research report on Monday, December 22nd. Finally, Zacks Research lowered shares of La-Z-Boy from a "strong-buy" rating to a "hold" rating in a report on Monday, January 19th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $42.50.
Check Out Our Latest Analysis on LZB
La-Z-Boy Profile
(
Free Report)
La-Z-Boy Incorporated NYSE: LZB is a leading U.S. manufacturer and marketer of residential furniture, best known for its upholstered recliners, sofas, stationary chairs and sleeper sofas. The company offers a broad range of products in both fabric and leather, complemented by occasional tables, desks, lamps and other home furnishings through its branded retail network.
Founded in 1927 by cousins Edward Knabusch and Edwin Shoemaker in Monroe, Michigan, La-Z-Boy pioneered the modern reclining chair.
Further Reading
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