Invesco Ltd. Sells 42,197 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Invesco Ltd. lowered its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 11.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 338,166 shares of the company's stock after selling 42,197 shares during the period. Invesco Ltd. owned about 0.82% of La-Z-Boy worth $14,734,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Barclays PLC grew its position in La-Z-Boy by 244.6% in the third quarter. Barclays PLC now owns 75,256 shares of the company's stock valued at $3,230,000 after acquiring an additional 53,419 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of La-Z-Boy during the 3rd quarter valued at approximately $352,000. Franklin Resources Inc. grew its holdings in shares of La-Z-Boy by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 26,820 shares of the company's stock valued at $1,074,000 after purchasing an additional 1,454 shares during the last quarter. Nordea Investment Management AB increased its position in La-Z-Boy by 3.7% during 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 in the last quarter. Finally, KBC Group NV lifted its stake in La-Z-Boy by 8.3% in 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. 99.62% of the stock is currently owned by institutional investors.

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 target price on the stock in a research note on Friday.

La-Z-Boy Stock Up 1.4 %

Shares of LZB stock traded up $0.53 during mid-day trading on Friday, reaching $39.07. 82,215 shares of the stock traded hands, compared to its average volume of 483,445. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 13.43 and a beta of 1.31. The stock's fifty day simple moving average is $40.32 and its two-hundred day simple moving average is $42.27. La-Z-Boy Incorporated has a 1-year low of $32.00 and a 1-year high of $48.31.

La-Z-Boy (NYSE:LZB - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $521.78 million during the quarter, compared to analyst estimates of $516.47 million. On average, equities research analysts anticipate that La-Z-Boy Incorporated will post 2.99 EPS for the current fiscal year.

La-Z-Boy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.88 annualized dividend and a dividend yield of 2.25%. La-Z-Boy's dividend payout ratio is 30.24%.

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.