T. Rowe Price Investment Management Inc. increased its position in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 68.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 881,692 shares of the company's stock after purchasing an additional 359,736 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 2.14% of La-Z-Boy worth $34,466,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC increased its holdings in 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 in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in 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 valued at $71,000 after buying an additional 1,382 shares in the last quarter. Johnson Financial Group Inc. increased its holdings in La-Z-Boy by 2,394.1% in the fourth quarter. Johnson Financial Group Inc. now owns 1,696 shares of the company's stock valued at $80,000 after buying an additional 1,628 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in La-Z-Boy in the first quarter valued at about $201,000. Finally, Bank of Montreal Can purchased a new position in La-Z-Boy in the fourth quarter valued at about $203,000. 99.62% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have issued reports on the stock. Zacks Research cut shares of La-Z-Boy from a "hold" rating to a "strong sell" rating in a report on Friday, August 22nd. Wall Street Zen cut shares of La-Z-Boy from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $46.00.
Get Our Latest Stock Analysis on LZB
La-Z-Boy Stock Down 1.1%
Shares of LZB traded down $0.41 during mid-day trading on Friday, reaching $36.56. 61,699 shares of the company's stock were exchanged, compared to its average volume of 514,919. The company has a 50-day simple moving average of $37.72 and a two-hundred day simple moving average of $39.79. La-Z-Boy Incorporated has a 52-week low of $31.99 and a 52-week high of $48.31. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 16.69 and a beta of 1.26.
La-Z-Boy (NYSE:LZB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 19th. The company reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.06). La-Z-Boy had a return on equity of 11.34% and a net margin of 4.35%.The business had revenue of $492.23 million for the quarter, compared to analysts' expectations of $502.56 million. During the same period last year, the business earned $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. As a group, equities research analysts predict that La-Z-Boy Incorporated will post 2.99 EPS for the current fiscal year.
La-Z-Boy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, September 4th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, September 4th. This represents a $0.88 dividend on an annualized basis and a yield of 2.4%. La-Z-Boy's dividend payout ratio (DPR) is 40.18%.
La-Z-Boy Company Profile
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Free Report)
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.
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