La-Z-Boy Incorporated $LZB Shares Bought by Wellington Management Group LLP

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 La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 32.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 411,748 shares of the company's stock after buying an additional 100,170 shares during the period. Wellington Management Group LLP owned approximately 1.00% of La-Z-Boy worth $16,095,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in shares of La-Z-Boy by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 229,505 shares of the company's stock worth $8,971,000 after buying an additional 5,822 shares during the last quarter. Versor Investments LP boosted its stake in La-Z-Boy by 148.3% in the 1st quarter. Versor Investments LP now owns 27,813 shares of the company's stock worth $1,087,000 after purchasing an additional 16,613 shares in the last quarter. Deutsche Bank AG boosted its stake in La-Z-Boy by 48.5% in the 4th quarter. Deutsche Bank AG now owns 35,590 shares of the company's stock worth $1,551,000 after purchasing an additional 11,622 shares in the last quarter. GAMMA Investing LLC boosted its stake in La-Z-Boy by 6,396.1% in the 1st quarter. GAMMA Investing LLC now owns 13,447 shares of the company's stock worth $526,000 after purchasing an additional 13,240 shares in the last quarter. Finally, US Bancorp DE boosted its stake in La-Z-Boy by 334.3% in the 1st quarter. US Bancorp DE now owns 8,725 shares of the company's stock worth $341,000 after purchasing an additional 6,716 shares in the last quarter. Hedge funds and other institutional investors own 99.62% of the company's stock.

La-Z-Boy Stock Performance

Shares of LZB traded down $0.00 during trading hours on Friday, hitting $36.96. The stock had a trading volume of 293,861 shares, compared to its average volume of 684,844. The firm has a 50-day moving average price of $37.70 and a 200 day moving average price of $39.73. La-Z-Boy Incorporated has a fifty-two week low of $31.99 and a fifty-two week high of $48.31. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 16.88 and a beta of 1.26.

La-Z-Boy (NYSE:LZB - Get Free Report) last posted 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). The firm had revenue of $492.23 million during the quarter, compared to analyst estimates of $502.56 million. La-Z-Boy had a net margin of 4.35% and a return on equity of 11.34%. The business's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.62 earnings per share. La-Z-Boy has set its Q2 2026 guidance at EPS. As a group, analysts predict that La-Z-Boy Incorporated will post 2.99 EPS for the current fiscal year.

La-Z-Boy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.4%. La-Z-Boy's dividend payout ratio is presently 40.18%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Zacks Research cut shares of La-Z-Boy from a "hold" rating to a "strong sell" rating in a research note on Friday, August 22nd. Wall Street Zen cut shares of La-Z-Boy from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $46.00.

La-Z-Boy 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.