Vanguard Group Inc. Lowers Holdings in La-Z-Boy Incorporated $LZB

Key Points

• Vanguard Group Inc. reduced its stake in La-Z-Boy Incorporated by 2.7%, now owning 4,849,695 shares worth approximately $189.58 million.
• Despite Vanguard's cut, other large investors, such as TD Private Client Wealth LLC and PFG Advisors, increased their holdings in La-Z-Boy during the same period.
• La-Z-Boy reported earnings of $0.47 per share for the latest quarter, missing expectations by $0.06, with revenue declining 0.7% year-over-year.

Vanguard Group Inc. reduced its position in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,849,695 shares of the company's stock after selling 134,073 shares during the period. Vanguard Group Inc. owned approximately 11.75% of La-Z-Boy worth $189,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of LZB. Principal Financial Group Inc. lifted its position in La-Z-Boy by 2.6% during the first quarter. Principal Financial Group Inc. now owns 229,505 shares of the company's stock valued at $8,971,000 after purchasing an additional 5,822 shares in the last quarter. Deutsche Bank AG lifted its position in La-Z-Boy by 48.5% during the fourth quarter. Deutsche Bank AG now owns 35,590 shares of the company's stock valued at $1,551,000 after purchasing an additional 11,622 shares in the last quarter. GAMMA Investing LLC lifted its position in La-Z-Boy by 6,396.1% during the first quarter. GAMMA Investing LLC now owns 13,447 shares of the company's stock valued at $526,000 after purchasing an additional 13,240 shares in the last quarter. US Bancorp DE lifted its position in La-Z-Boy by 334.3% during the first quarter. US Bancorp DE now owns 8,725 shares of the company's stock valued at $341,000 after purchasing an additional 6,716 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in La-Z-Boy by 79.0% during the first quarter. Victory Capital Management Inc. now owns 79,515 shares of the company's stock valued at $3,108,000 after acquiring an additional 35,103 shares during the period. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut La-Z-Boy from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $46.00.

La-Z-Boy Stock Up 0.2%

NYSE:LZB traded up $0.06 on Monday, reaching $36.64. 747,285 shares of the company's stock traded hands, compared to its average volume of 651,386. The stock has a 50-day simple moving average of $37.82 and a 200-day simple moving average of $39.89. The firm has a market cap of $1.51 billion, a PE ratio of 16.73 and a beta of 1.26. La-Z-Boy Incorporated has a 12 month low of $31.99 and a 12 month high of $48.31.

La-Z-Boy (NYSE:LZB - Get Free Report) last issued its earnings results on Tuesday, August 19th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $492.23 million during the quarter, compared to the consensus estimate of $502.56 million. During the same period last year, the firm posted $0.62 earnings per share. The company's revenue for the quarter was down .7% compared to the same quarter last year. La-Z-Boy has set its Q2 2026 guidance at EPS. On average, equities analysts anticipate that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.

La-Z-Boy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.4%. La-Z-Boy's payout ratio is currently 40.18%.

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.