JPMorgan Chase & Co. Acquires 84,180 Shares of La-Z-Boy Incorporated (NYSE:LZB)

JPMorgan Chase & Co. boosted its position in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 40.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 291,912 shares of the company's stock after purchasing an additional 84,180 shares during the quarter. JPMorgan Chase & Co. owned about 0.70% of La-Z-Boy worth $12,719,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in shares of La-Z-Boy by 244.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 658 shares of the company's stock valued at $29,000 after acquiring an additional 467 shares in the last quarter. TD Private Client Wealth LLC purchased a new position in shares of La-Z-Boy in the third quarter worth $43,000. Venturi Wealth Management LLC bought a new position in shares of La-Z-Boy during the fourth quarter valued at $51,000. Verity Asset Management Inc. bought a new position in shares of La-Z-Boy during the fourth quarter valued at $275,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of La-Z-Boy during the fourth quarter valued at $349,000. 99.62% of the stock is currently owned by institutional investors.

La-Z-Boy Trading Up 2.0 %

NYSE:LZB traded up $0.77 during mid-day trading on Friday, reaching $38.44. The company's stock had a trading volume of 526,183 shares, compared to its average volume of 483,837. The stock has a market cap of $1.59 billion, a P/E ratio of 13.21 and a beta of 1.31. The firm's fifty day moving average price is $40.89 and its two-hundred day moving average price is $42.36. La-Z-Boy Incorporated has a 12-month low of $32.00 and a 12-month high of $48.31.

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

La-Z-Boy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.29%. La-Z-Boy's dividend payout ratio (DPR) is currently 30.24%.

About La-Z-Boy

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.