Strs Ohio Purchases Shares of 14,800 La-Z-Boy Incorporated $LZB

Key Points

• Strs Ohio has acquired a new position in La-Z-Boy Incorporated with 14,800 shares valued at approximately $579,000.
• La-Z-Boy's recent earnings report showed a missed EPS estimate of $0.47 compared to the expected $0.53, and a revenue decline of 0.7% year-over-year.
• The company announced a quarterly dividend of $0.22 per share, resulting in an annualized dividend yield of 2.6%.

Strs Ohio acquired a new stake in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 14,800 shares of the company's stock, valued at approximately $579,000.

Other institutional investors also recently bought and sold shares of the company. TD Private Client Wealth LLC increased 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 purchasing an additional 252 shares in the last quarter. PFG Advisors boosted its stake in shares of La-Z-Boy by 2.6% in the 1st quarter. PFG Advisors now owns 11,797 shares of the company's stock worth $461,000 after buying an additional 298 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of La-Z-Boy by 0.8% in the 1st quarter. Allianz Asset Management GmbH now owns 45,164 shares of the company's stock worth $1,765,000 after buying an additional 346 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in La-Z-Boy by 3.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,836 shares of the company's stock valued at $971,000 after purchasing an additional 769 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in La-Z-Boy by 7.6% during the first quarter. Envestnet Asset Management Inc. now owns 14,944 shares of the company's stock valued at $584,000 after purchasing an additional 1,057 shares in the last quarter. 99.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on LZB shares. Zacks Research downgraded La-Z-Boy from a "hold" rating to a "strong sell" rating in a research report on Friday, August 22nd. Wall Street Zen downgraded La-Z-Boy from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $46.00.

La-Z-Boy Stock Up 0.6%

NYSE:LZB traded up $0.19 during trading hours on Tuesday, reaching $34.01. 137,888 shares of the stock were exchanged, compared to its average volume of 522,759. The business has a 50-day moving average of $36.47 and a two-hundred day moving average of $38.58. La-Z-Boy Incorporated has a twelve month low of $31.99 and a twelve month high of $48.31. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 15.52 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $492.23 million during the quarter, compared to analysts' expectations of $502.56 million. During the same quarter last year, the business posted $0.62 earnings per share. The company'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. On average, research analysts forecast that La-Z-Boy Incorporated will post 2.99 EPS for the current fiscal year.

La-Z-Boy Announces Dividend

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

Insider Activity

In related news, Director Janet Kerr sold 3,372 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was 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 $130,412.10. This trade represents a 48.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.66% of the stock is currently owned by corporate insiders.

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.