Tudor Investment Corp ET AL cut its stake in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 54.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,577 shares of the company's stock after selling 46,125 shares during the quarter. Tudor Investment Corp ET AL owned 0.09% of La-Z-Boy worth $1,324,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its stake in shares of La-Z-Boy by 75.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 755 shares of the company's stock valued at $26,000 after acquiring an additional 324 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of La-Z-Boy by 290.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company's stock valued at $33,000 after acquiring an additional 670 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of La-Z-Boy by 99.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company's stock valued at $42,000 after acquiring an additional 567 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of La-Z-Boy by 3,130.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,260 shares of the company's stock valued at $43,000 after acquiring an additional 1,221 shares during the last quarter. Finally, MAI Capital Management increased its stake in shares of La-Z-Boy by 2,520.9% in the 3rd quarter. MAI Capital Management now owns 2,385 shares of the company's stock valued at $82,000 after acquiring an additional 2,294 shares during the last quarter. 99.62% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other La-Z-Boy news, SVP Michael Adam Leggett sold 2,200 shares of the company's stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $37.00, for a total transaction of $81,400.00. Following the completion of the transaction, the senior vice president owned 42,473 shares of the company's stock, valued at $1,571,501. This represents a 4.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.66% of the stock is currently owned by company insiders.
La-Z-Boy Stock Performance
Shares of LZB opened at $33.60 on Tuesday. The stock has a 50 day simple moving average of $34.67 and a 200 day simple moving average of $35.45. La-Z-Boy Incorporated has a 52-week low of $29.03 and a 52-week high of $44.49. The firm has a market capitalization of $1.38 billion, a PE ratio of 16.64 and a beta of 1.28.
La-Z-Boy (NYSE:LZB - Get Free Report) last released its quarterly earnings results on Tuesday, February 17th. The company reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.02. La-Z-Boy had a return on equity of 10.79% and a net margin of 3.93%.The firm had revenue of $541.59 million during the quarter, compared to the consensus estimate of $535.47 million. During the same quarter in the prior year, the firm posted $0.68 EPS. The business's revenue was up 3.8% on a year-over-year basis. 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 declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd were given a dividend of $0.242 per share. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $0.97 dividend on an annualized basis and a yield of 2.9%. La-Z-Boy's dividend payout ratio is 48.02%.
Analysts Set New Price Targets
Several brokerages recently issued reports on LZB. KeyCorp reiterated an "overweight" rating on shares of La-Z-Boy in a research report on Wednesday, December 17th. Needham & Company LLC reiterated a "buy" rating on shares of La-Z-Boy in a research report on Wednesday, December 17th. Weiss Ratings reiterated a "hold (c)" rating on shares of La-Z-Boy in a research report on Monday, December 22nd. Zacks Research lowered La-Z-Boy from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 19th. Finally, Wall Street Zen upgraded La-Z-Boy from a "hold" rating to a "buy" rating in a research report on Saturday, March 28th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $42.50.
Check Out Our Latest Report on LZB
La-Z-Boy Company Profile
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Free Report)
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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