La-Z-Boy Incorporated (NYSE:LZB - Get Free Report) announced a quarterly dividend on Tuesday, April 28th. Shareholders of record on Tuesday, June 2nd will be paid a dividend of 0.242 per share on Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, June 2nd.
La-Z-Boy has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. La-Z-Boy has a dividend payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect La-Z-Boy to earn $2.99 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 32.1%.
La-Z-Boy Price Performance
LZB stock opened at $35.80 on Wednesday. The company's 50 day simple moving average is $34.08 and its 200-day simple moving average is $35.60. La-Z-Boy has a 12 month low of $29.03 and a 12 month high of $44.49. The firm has a market capitalization of $1.46 billion, a PE ratio of 17.77 and a beta of 1.28.
La-Z-Boy (NYSE:LZB - Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.02. La-Z-Boy had a return on equity of 10.79% and a net margin of 3.93%.The firm had revenue of $541.59 million during the quarter, compared to the consensus estimate of $535.47 million. During the same period in the previous year, the firm posted $0.68 EPS. The company's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that La-Z-Boy will post 2.61 earnings per share for the current year.
Insider Activity
In other news, SVP Michael Adam Leggett sold 2,200 shares of the firm's stock in a transaction on Friday, February 20th. The stock was sold at an average price of $37.00, for a total transaction of $81,400.00. Following the sale, the senior vice president owned 42,473 shares in the company, valued at $1,571,501. This trade represents a 4.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.66% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Inspire Investing LLC grew its stake in shares of La-Z-Boy by 27.2% during the 1st quarter. Inspire Investing LLC now owns 16,031 shares of the company's stock valued at $515,000 after buying an additional 3,431 shares during the period. Pictet Asset Management Holding SA boosted its holdings in La-Z-Boy by 21.8% in the first quarter. Pictet Asset Management Holding SA now owns 7,064 shares of the company's stock valued at $227,000 after acquiring an additional 1,265 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in La-Z-Boy during the first quarter valued at about $588,000. Rockefeller Capital Management L.P. increased its stake in La-Z-Boy by 159.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company's stock worth $43,000 after acquiring an additional 713 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in La-Z-Boy by 112.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,510 shares of the company's stock worth $56,000 after acquiring an additional 798 shares during the last quarter. 99.62% of the stock is currently owned by hedge funds and other institutional investors.
La-Z-Boy Company Profile
(
Get Free Report)
La-Z-Boy Incorporated NYSE: LZB is a leading U.S. manufacturer and marketer of residential furniture, best known for its upholstered recliners, sofas, stationary chairs and sleeper sofas. The company offers a broad range of products in both fabric and leather, complemented by occasional tables, desks, lamps and other home furnishings through its branded retail network.
Founded in 1927 by cousins Edward Knabusch and Edwin Shoemaker in Monroe, Michigan, La-Z-Boy pioneered the modern reclining chair.
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