Victory Capital Management Inc. Has $3.11 Million Holdings in La-Z-Boy Incorporated (NYSE:LZB)

Victory Capital Management Inc. increased its position in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 79.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 79,515 shares of the company's stock after purchasing an additional 35,103 shares during the period. Victory Capital Management Inc. owned about 0.19% of La-Z-Boy worth $3,108,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LZB. Raymond James Financial Inc. purchased a new stake in shares of La-Z-Boy in the fourth quarter valued at $619,000. KLP Kapitalforvaltning AS purchased a new position in shares of La-Z-Boy during the fourth quarter valued at $349,000. JPMorgan Chase & Co. raised its position in La-Z-Boy by 40.5% during the fourth quarter. JPMorgan Chase & Co. now owns 291,912 shares of the company's stock valued at $12,719,000 after buying an additional 84,180 shares during the period. Norges Bank purchased a new stake in La-Z-Boy in the 4th quarter worth about $5,786,000. Finally, O Shaughnessy Asset Management LLC lifted its stake in La-Z-Boy by 7.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,282 shares of the company's stock worth $274,000 after acquiring an additional 457 shares in the last quarter. Institutional investors and hedge funds own 99.62% of the company's stock.

La-Z-Boy Trading Up 0.9%

NYSE LZB opened at $38.35 on Monday. La-Z-Boy Incorporated has a 1-year low of $35.18 and a 1-year high of $48.31. The firm's fifty day simple moving average is $39.64 and its 200-day simple moving average is $41.14. The company has a market capitalization of $1.58 billion, a PE ratio of 16.25 and a beta of 1.26.

La-Z-Boy (NYSE:LZB - Get Free Report) last issued its earnings results on Tuesday, June 17th. The company reported $0.92 EPS 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 firm had revenue of $570.87 million during the quarter, compared to analysts' expectations of $557.44 million. During the same quarter last year, the firm earned $0.95 EPS. The business's revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, analysts predict that La-Z-Boy Incorporated will post 2.99 EPS for the current year.

La-Z-Boy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Tuesday, June 3rd were issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 2.29%. La-Z-Boy's dividend payout ratio is currently 37.29%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on LZB shares. Wall Street Zen cut La-Z-Boy from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. KeyCorp upgraded shares of La-Z-Boy from a "sector weight" rating to an "overweight" rating and set a $46.00 price target for the company in a report 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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