Wellington Management Group LLP Increases Stock Position in La-Z-Boy Incorporated $LZB

Key Points

• Wellington Management Group LLP increased its stake in La-Z-Boy by 32.1% during the first quarter, owning approximately $16.1 million worth of shares after purchasing an additional 100,170 shares.
• La-Z-Boy's recent quarterly earnings showed a reported EPS of $0.47, which misses analyst expectations of $0.53, along with a revenue of $492.23 million, down from the anticipated $502.56 million.
• The company's dividend announcement revealed a quarterly payout of $0.22 per share, which translates to an annual yield of 2.4%, with a payout ratio of 40.18%.

Wellington Management Group LLP lifted its position in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 32.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 411,748 shares of the company's stock after buying an additional 100,170 shares during the quarter. Wellington Management Group LLP owned about 1.00% of La-Z-Boy worth $16,095,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its holdings in La-Z-Boy by 4.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,887 shares of the company's stock worth $605,000 after purchasing an additional 556 shares during the period. Raymond James Financial Inc. acquired a new stake in La-Z-Boy in the fourth quarter worth $619,000. Barclays PLC lifted its stake in shares of La-Z-Boy by 8.1% in the fourth quarter. Barclays PLC now owns 81,318 shares of the company's stock valued at $3,543,000 after buying an additional 6,062 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of La-Z-Boy by 5.0% in the fourth quarter. MetLife Investment Management LLC now owns 25,856 shares of the company's stock valued at $1,127,000 after buying an additional 1,231 shares in the last quarter. Finally, State of Tennessee Department of Treasury lifted its stake in shares of La-Z-Boy by 1.5% in the fourth quarter. State of Tennessee Department of Treasury now owns 24,504 shares of the company's stock valued at $1,068,000 after buying an additional 359 shares in the last quarter. 99.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LZB has been the topic of a number of recent research reports. Wall Street Zen lowered shares of La-Z-Boy from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Zacks Research lowered shares of La-Z-Boy from a "hold" rating to a "strong sell" rating in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, La-Z-Boy currently has a consensus rating of "Hold" and an average target price of $46.00.

La-Z-Boy Stock Down 0.0%

NYSE:LZB traded down $0.00 during mid-day trading on Monday, hitting $36.96. 293,861 shares of the stock traded hands, compared to its average volume of 675,769. The business's 50-day moving average price is $37.68 and its 200 day moving average price is $39.59. The company has a market cap of $1.52 billion, a PE ratio of 16.88 and a beta of 1.23. 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 announced its quarterly earnings results on Tuesday, August 19th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.06). The firm had revenue of $492.23 million for the quarter, compared to analysts' expectations of $502.56 million. La-Z-Boy had a net margin of 4.35% and a return on equity of 11.34%. The company's quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 EPS. La-Z-Boy has set its Q2 2026 guidance at EPS. Analysts anticipate that La-Z-Boy Incorporated will post 2.99 earnings per share for the current fiscal year.

La-Z-Boy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $0.88 annualized dividend and a yield of 2.4%. La-Z-Boy's dividend payout ratio is presently 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.