First Trust Advisors LP Trims Holdings in La-Z-Boy Incorporated (NYSE:LZB)

First Trust Advisors LP lowered its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 10.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,521 shares of the company's stock after selling 11,471 shares during the period. First Trust Advisors LP owned approximately 0.23% of La-Z-Boy worth $4,075,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of LZB. Barclays PLC lifted its holdings in shares of La-Z-Boy by 244.6% during the third quarter. Barclays PLC now owns 75,256 shares of the company's stock valued at $3,230,000 after purchasing an additional 53,419 shares during the last quarter. World Investment Advisors LLC bought a new stake in La-Z-Boy in the third quarter worth $352,000. Franklin Resources Inc. increased its holdings in shares of La-Z-Boy by 5.7% during the third quarter. Franklin Resources Inc. now owns 26,820 shares of the company's stock valued at $1,074,000 after acquiring an additional 1,454 shares in the last quarter. Nordea Investment Management AB raised its position in shares of La-Z-Boy by 3.7% in the 4th quarter. Nordea Investment Management AB now owns 178,281 shares of the company's stock worth $7,814,000 after purchasing an additional 6,388 shares during the last quarter. Finally, KBC Group NV grew its position in La-Z-Boy by 8.3% during the 4th quarter. KBC Group NV now owns 9,593 shares of the company's stock valued at $418,000 after purchasing an additional 734 shares during the last quarter. Institutional investors own 99.62% of the company's stock.

La-Z-Boy Price Performance

Shares of La-Z-Boy stock traded down $0.27 during trading on Tuesday, hitting $40.94. 335,355 shares of the company's stock traded hands, compared to its average volume of 485,367. La-Z-Boy Incorporated has a 1 year low of $33.34 and a 1 year high of $48.31. The business has a 50-day simple moving average of $39.42 and a 200-day simple moving average of $42.27. The stock has a market capitalization of $1.69 billion, a P/E ratio of 14.07 and a beta of 1.33.

La-Z-Boy (NYSE:LZB - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.01. La-Z-Boy had a net margin of 5.92% and a return on equity of 12.38%. The firm had revenue of $521.78 million for the quarter, compared to the consensus estimate of $516.47 million. On average, equities analysts predict that La-Z-Boy Incorporated will post 2.99 earnings per share for the current fiscal year.

La-Z-Boy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $0.88 annualized dividend and a dividend yield of 2.15%. La-Z-Boy's payout ratio is 30.24%.

Analysts Set New Price Targets

Separately, KeyCorp raised 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 research report on Friday, April 25th.

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.