Teacher Retirement System of Texas Has $5.63 Million Stock Position in La-Z-Boy Incorporated (NYSE:LZB)

Teacher Retirement System of Texas lowered its position in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 12.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 144,040 shares of the company's stock after selling 19,673 shares during the quarter. Teacher Retirement System of Texas owned 0.35% of La-Z-Boy worth $5,631,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. American Century Companies Inc. lifted its position in shares of La-Z-Boy by 3.0% in the 4th quarter. American Century Companies Inc. now owns 1,149,236 shares of the company's stock worth $50,072,000 after acquiring an additional 33,416 shares during the period. William Blair Investment Management LLC raised its holdings in shares of La-Z-Boy by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 999,523 shares of the company's stock worth $43,549,000 after buying an additional 24,125 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of La-Z-Boy by 2.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 960,023 shares of the company's stock worth $41,828,000 after buying an additional 23,329 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of La-Z-Boy by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 801,140 shares of the company's stock worth $34,906,000 after buying an additional 22,168 shares in the last quarter. Finally, Systematic Financial Management LP raised its holdings in shares of La-Z-Boy by 4.0% in the 4th quarter. Systematic Financial Management LP now owns 586,107 shares of the company's stock worth $25,537,000 after buying an additional 22,423 shares in the last quarter. Institutional investors own 99.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LZB. KeyCorp raised La-Z-Boy from a "sector weight" rating to an "overweight" rating and set a $46.00 target price for the company in a report on Friday, April 25th. Wall Street Zen cut La-Z-Boy from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd.

La-Z-Boy Stock Up 0.6%

LZB stock traded up $0.23 during midday trading on Tuesday, reaching $39.26. 428,987 shares of the company's stock traded hands, compared to its average volume of 478,173. The company has a 50-day simple moving average of $40.58 and a two-hundred day simple moving average of $41.63. La-Z-Boy Incorporated has a 1-year low of $35.18 and a 1-year high of $48.31. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 16.64 and a beta of 1.26.

La-Z-Boy (NYSE:LZB - Get Free Report) last released its quarterly earnings results on Tuesday, June 17th. The company reported $0.92 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.01). La-Z-Boy had a net margin of 4.72% and a return on equity of 12.08%. The business had revenue of $570.87 million for the quarter, compared to analyst estimates of $557.44 million. During the same period in the prior year, the business earned $0.95 earnings per share. The company's revenue for the quarter was up 3.1% on a year-over-year basis. Equities research analysts forecast that La-Z-Boy Incorporated will post 2.99 EPS for the current year.

La-Z-Boy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, June 3rd were paid a $0.22 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $0.88 annualized dividend and a dividend yield of 2.24%. La-Z-Boy's dividend payout ratio (DPR) is currently 37.29%.

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.