La-Z-Boy Incorporated (NYSE:LZB - Get Free Report) insider Robert Sundy II sold 5,000 shares of La-Z-Boy stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $30.85, for a total value of $154,250.00. Following the transaction, the insider owned 59,297 shares of the company's stock, valued at approximately $1,829,312.45. This represents a 7.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.
La-Z-Boy Price Performance
NYSE:LZB traded up $0.38 during trading hours on Monday, reaching $31.02. The company had a trading volume of 561,517 shares, compared to its average volume of 506,772. La-Z-Boy Incorporated has a 1-year low of $29.03 and a 1-year high of $44.90. The business's 50 day moving average price is $37.38 and its 200-day moving average price is $36.25. The firm has a market cap of $1.24 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.10 and a beta of 1.23.
La-Z-Boy (NYSE:LZB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 18th. The company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06). The firm had revenue of $475.69 million for the quarter, compared to analyst estimates of $501.44 million. La-Z-Boy had a return on equity of 11.79% and a net margin of 3.86%.La-Z-Boy's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 EPS. On average, analysts expect that La-Z-Boy Incorporated will post 2.53 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 Tuesday, September 15th. Investors of record on Thursday, September 3rd will be given a dividend of $0.242 per share. This represents a $0.97 annualized dividend and a yield of 3.1%. The ex-dividend date is Thursday, September 3rd. La-Z-Boy's dividend payout ratio (DPR) is currently 49.24%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Wall Street Zen downgraded shares of La-Z-Boy from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Zacks Research cut La-Z-Boy from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 20th. Weiss Ratings lowered La-Z-Boy from a "buy (b-)" rating to a "hold (c)" rating in a research note on Thursday, August 20th. Finally, KeyCorp reduced their price target on La-Z-Boy from $46.00 to $40.00 and set an "overweight" rating for the company in a report on Thursday, August 20th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, La-Z-Boy has a consensus rating of "Hold" and a consensus target price of $39.50.
Check Out Our Latest Research Report on La-Z-Boy
Institutional Trading of La-Z-Boy
Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of La-Z-Boy in the second quarter worth approximately $265,535,000. WINTON GROUP Ltd purchased a new stake in shares of La-Z-Boy during the second quarter worth approximately $3,896,000. Empowered Funds LLC acquired a new position in La-Z-Boy in the 2nd quarter valued at $6,475,000. Sei Investments Co. raised its stake in La-Z-Boy by 69.5% in the 1st quarter. Sei Investments Co. now owns 116,124 shares of the company's stock valued at $3,732,000 after purchasing an additional 47,626 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in La-Z-Boy by 49.5% in the 1st quarter. Pacer Advisors Inc. now owns 182,698 shares of the company's stock valued at $5,872,000 after purchasing an additional 60,518 shares in the last quarter. Institutional investors and hedge funds own 99.62% of the company's stock.
About La-Z-Boy
(
Get Free Report)
La-Z-Boy Incorporated is a residential furniture manufacturer and retailer best known for its upholstered recliners. The company offers a broad range of furniture for living rooms, family rooms, bedrooms and other areas of the home, including recliners, sofas, sectionals, chairs, ottomans, tables, beds and complementary home furnishings.
Founded in 1927 in Monroe, Michigan, La-Z-Boy built its reputation around its reclining chair and has expanded into a full-service home furnishings company.
Further Reading
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