Freestone Grove Partners LP Buys New Stake in La-Z-Boy Incorporated (NYSE:LZB)

Freestone Grove Partners LP purchased a new stake in La-Z-Boy Incorporated (NYSE:LZB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 10,636 shares of the company's stock, valued at approximately $463,000.

Other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. raised its holdings in La-Z-Boy by 3.0% in the fourth quarter. American Century Companies Inc. now owns 1,149,236 shares of the company's stock valued at $50,072,000 after acquiring an additional 33,416 shares in the last quarter. William Blair Investment Management LLC lifted its position in shares of La-Z-Boy by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 999,523 shares of the company's stock worth $43,549,000 after purchasing an additional 24,125 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of La-Z-Boy by 2.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 960,023 shares of the company's stock worth $41,828,000 after purchasing an additional 23,329 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in La-Z-Boy by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 801,140 shares of the company's stock valued at $34,906,000 after buying an additional 22,168 shares during the last quarter. Finally, Northern Trust Corp raised its stake in La-Z-Boy by 10.7% in the fourth quarter. Northern Trust Corp now owns 487,839 shares of the company's stock valued at $21,255,000 after buying an additional 46,975 shares in the last quarter. Institutional investors and hedge funds own 99.62% of the company's stock.

Analyst Ratings Changes

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

La-Z-Boy Stock Down 1.1 %

NYSE LZB traded down $0.45 during trading hours on Friday, hitting $41.82. 110,588 shares of the stock were exchanged, compared to its average volume of 484,433. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 14.37 and a beta of 1.33. La-Z-Boy Incorporated has a 12-month low of $33.34 and a 12-month high of $48.31. The stock has a 50-day moving average of $39.23 and a 200 day moving average of $42.27.

La-Z-Boy (NYSE:LZB - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.68 EPS for the quarter, topping the consensus estimate 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 company had revenue of $521.78 million for the quarter, compared to analyst estimates of $516.47 million. On average, equities research analysts expect that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.

La-Z-Boy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Tuesday, June 3rd will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.10%. The ex-dividend date is Tuesday, June 3rd. La-Z-Boy's payout ratio is 30.24%.

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.