Vest Financial LLC Takes $3.06 Million Position in La-Z-Boy Incorporated (NYSE:LZB)

Vest Financial LLC purchased a new stake in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 78,295 shares of the company's stock, valued at approximately $3,061,000. Vest Financial LLC owned 0.19% of La-Z-Boy at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in La-Z-Boy by 244.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 658 shares of the company's stock valued at $29,000 after acquiring an additional 467 shares during the period. Venturi Wealth Management LLC bought a new position in shares of La-Z-Boy in the 4th quarter worth approximately $51,000. Johnson Financial Group Inc. lifted its stake in shares of La-Z-Boy by 2,394.1% in the 4th quarter. Johnson Financial Group Inc. now owns 1,696 shares of the company's stock worth $80,000 after purchasing an additional 1,628 shares during the period. Bank of Montreal Can bought a new position in shares of La-Z-Boy in the 4th quarter worth approximately $203,000. Finally, iSAM Funds UK Ltd bought a new position in shares of La-Z-Boy in the 4th quarter worth approximately $205,000. 99.62% of the stock is owned by institutional investors.

La-Z-Boy Stock Performance

Shares of La-Z-Boy stock opened at $40.33 on Friday. La-Z-Boy Incorporated has a one year low of $33.34 and a one year high of $48.31. The stock's fifty day moving average is $40.31 and its 200 day moving average is $42.52. The stock has a market cap of $1.66 billion, a P/E ratio of 13.86 and a beta of 1.31.

La-Z-Boy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, June 3rd will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Tuesday, June 3rd. La-Z-Boy's dividend payout ratio (DPR) is currently 30.24%.

Analyst Ratings Changes

Separately, KeyCorp upgraded shares of La-Z-Boy from a "sector weight" rating to an "overweight" rating and set a $46.00 price objective on the stock in a research note on Friday, April 25th.

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.

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