Tudor Investment Corp ET AL Has $1.32 Million Stake in La-Z-Boy Incorporated $LZB

Key Points

• Tudor Investment cut its La-Z-Boy stake by 54.5% in Q3 to 38,577 shares (about $1.32M), even as several other institutions raised positions and institutional investors now own 99.62% of the stock.
• La‑Z‑Boy beat quarterly expectations with $0.61 EPS vs. $0.59 and revenue of $541.6M (up 3.8% YoY), and recently paid a quarterly dividend of $0.242 (annualized yield ~3.0%).
• Analysts hold a consensus rating of “Moderate Buy” with a consensus price target of $42.50, while the shares trade near $31.98 with a market cap of about $1.31B and a P/E of ~15.8.

Tudor Investment Corp ET AL lessened its position in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 54.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,577 shares of the company's stock after selling 46,125 shares during the period. Tudor Investment Corp ET AL owned approximately 0.09% of La-Z-Boy worth $1,324,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in La-Z-Boy by 18.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 721,029 shares of the company's stock valued at $24,400,000 after purchasing an additional 113,396 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of La-Z-Boy by 7.2% in the 3rd quarter. American Century Companies Inc. now owns 1,434,642 shares of the company's stock valued at $49,237,000 after purchasing an additional 95,737 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of La-Z-Boy by 7.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,391,236 shares of the company's stock valued at $47,747,000 after purchasing an additional 100,416 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of La-Z-Boy by 12.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 246,590 shares of the company's stock valued at $9,166,000 after purchasing an additional 27,510 shares during the last quarter. Finally, CSM Advisors LLC acquired a new position in shares of La-Z-Boy during the 3rd quarter worth $3,958,000. Institutional investors and hedge funds own 99.62% of the company's stock.

Insider Transactions at La-Z-Boy

In other La-Z-Boy news, SVP Michael Adam Leggett sold 2,200 shares of La-Z-Boy stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $37.00, for a total transaction of $81,400.00. Following the transaction, the senior vice president directly owned 42,473 shares of the company's stock, valued at approximately $1,571,501. The trade was a 4.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on LZB. Wall Street Zen raised La-Z-Boy from a "hold" rating to a "buy" rating in a research note on Saturday. Needham & Company LLC restated a "buy" rating on shares of La-Z-Boy in a research note on Wednesday, December 17th. Zacks Research lowered shares of La-Z-Boy from a "strong-buy" rating to a "hold" rating in a report on Monday, January 19th. Weiss Ratings reiterated a "hold (c)" rating on shares of La-Z-Boy in a research report on Monday, December 22nd. Finally, KeyCorp reaffirmed an "overweight" rating on shares of La-Z-Boy in a research note on Wednesday, December 17th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $42.50.

La-Z-Boy Trading Up 0.1%

NYSE:LZB opened at $31.98 on Monday. The stock's 50-day moving average is $35.89 and its 200-day moving average is $35.58. La-Z-Boy Incorporated has a 1-year low of $29.03 and a 1-year high of $44.49. The stock has a market cap of $1.31 billion, a P/E ratio of 15.83 and a beta of 1.26.

La-Z-Boy (NYSE:LZB - Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.02. The firm had revenue of $541.59 million during the quarter, compared to analysts' expectations of $535.47 million. La-Z-Boy had a net margin of 3.93% and a return on equity of 10.79%. The company's revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 EPS. As a group, equities analysts forecast that La-Z-Boy Incorporated will post 2.99 EPS for the current year.

La-Z-Boy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Tuesday, March 3rd were given a dividend of $0.242 per share. This represents a $0.97 annualized dividend and a 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%.

About La-Z-Boy

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.

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