Squarepoint Ops LLC purchased a new position in La-Z-Boy Incorporated (NYSE:LZB - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 51,148 shares of the company's stock, valued at approximately $2,052,000. Squarepoint Ops LLC owned about 0.13% of La-Z-Boy at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Allworth Financial LP boosted its position in shares of La-Z-Boy by 47.4% in the second quarter. Allworth Financial LP now owns 2,803 shares of the company's stock worth $112,000 after acquiring an additional 902 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in La-Z-Boy in the second quarter valued at $534,000. California State Teachers Retirement System grew its position in La-Z-Boy by 4,483.9% during the second quarter. California State Teachers Retirement System now owns 1,755,210 shares of the company's stock valued at $70,419,000 after acquiring an additional 1,716,919 shares during the period. Two Sigma Securities LLC acquired a new stake in La-Z-Boy during the second quarter worth about $242,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of La-Z-Boy by 7.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,573 shares of the company's stock worth $3,112,000 after purchasing an additional 5,141 shares during the period. Hedge funds and other institutional investors own 99.62% of the company's stock.
Analyst Ratings Changes
LZB has been the subject of several recent research reports. Wall Street Zen lowered shares of La-Z-Boy from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. KeyCorp decreased their price target on shares of La-Z-Boy from $46.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday, August 20th. Zacks Research cut shares of La-Z-Boy from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 20th. Finally, Weiss Ratings downgraded La-Z-Boy from a "buy (b-)" rating to a "hold (c)" rating in a report on Thursday, August 20th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, La-Z-Boy currently has an average rating of "Hold" and a consensus price target of $39.50.
Check Out Our Latest Research Report on La-Z-Boy
Insider Activity at La-Z-Boy
In other La-Z-Boy news, insider Terrence Linz sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $40.23, for a total value of $100,575.00. Following the transaction, the insider directly owned 64,383 shares of the company's stock, valued at $2,590,128.09. This represents a 3.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Raphaell Z. Richmond sold 13,671 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $39.83, for a total value of $544,515.93. Following the transaction, the vice president owned 51,695 shares of the company's stock, valued at approximately $2,059,011.85. This trade represents a 20.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 74,952 shares of company stock valued at $2,947,724. 3.12% of the stock is currently owned by insiders.
La-Z-Boy Stock Performance
La-Z-Boy stock opened at $31.02 on Tuesday. The firm has a market capitalization of $1.24 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.10 and a beta of 1.23. La-Z-Boy Incorporated has a one year low of $29.03 and a one year high of $44.90. The stock's 50 day moving average price is $37.22 and its 200 day moving average price is $36.22.
La-Z-Boy (NYSE:LZB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 18th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). The firm had revenue of $475.69 million during the quarter, compared to analyst estimates of $501.44 million. La-Z-Boy had a net margin of 3.86% and a return on equity of 11.79%. The firm's revenue was down 3.4% compared to the same quarter last year. During the same period last year, the business earned $0.47 EPS. On average, analysts forecast that La-Z-Boy Incorporated will post 2.53 earnings per share for the current fiscal year.
La-Z-Boy Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Thursday, September 3rd will be given a $0.242 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Thursday, September 3rd. La-Z-Boy's dividend payout ratio is presently 49.24%.
La-Z-Boy Profile
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Free Report)
La-Z-Boy Incorporated is a residential furniture manufacturer and retailer best known for its upholstered recliners. The company offers a broad range of furniture for living rooms, family rooms, bedrooms and other areas of the home, including recliners, sofas, sectionals, chairs, ottomans, tables, beds and complementary home furnishings.
Founded in 1927 in Monroe, Michigan, La-Z-Boy built its reputation around its reclining chair and has expanded into a full-service home furnishings company.
See Also
Want to see what other hedge funds are holding LZB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for La-Z-Boy Incorporated (NYSE:LZB - Free Report).
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