Quantedge Capital Pte Ltd increased its position in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 151.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 112,500 shares of the company's stock after purchasing an additional 67,700 shares during the period. La-Z-Boy comprises about 1.8% of Quantedge Capital Pte Ltd's investment portfolio, making the stock its 14th biggest holding. Quantedge Capital Pte Ltd owned 0.27% of La-Z-Boy worth $4,902,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in LZB. Alliancebernstein L.P. increased its stake in shares of La-Z-Boy by 0.6% in the fourth quarter. Alliancebernstein L.P. now owns 48,545 shares of the company's stock worth $2,115,000 after acquiring an additional 301 shares during the last quarter. State of Tennessee Department of Treasury increased its position in La-Z-Boy by 1.5% in the 4th quarter. State of Tennessee Department of Treasury now owns 24,504 shares of the company's stock worth $1,068,000 after purchasing an additional 359 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of La-Z-Boy by 7.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,282 shares of the company's stock worth $274,000 after purchasing an additional 457 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of La-Z-Boy by 244.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 658 shares of the company's stock worth $29,000 after purchasing an additional 467 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of La-Z-Boy by 4.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 13,887 shares of the company's stock valued at $605,000 after buying an additional 556 shares during the last quarter. 99.62% of the stock is owned by institutional investors and hedge funds.
La-Z-Boy Price Performance
Shares of LZB opened at $43.56 on Wednesday. La-Z-Boy Incorporated has a one year low of $33.34 and a one year high of $48.31. The company's fifty day moving average price is $39.29 and its 200 day moving average price is $42.36. The company has a market capitalization of $1.80 billion, a PE ratio of 14.97 and a beta of 1.33.
La-Z-Boy (NYSE:LZB - Get Free Report) last announced its earnings results 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 the consensus estimate of $516.47 million. La-Z-Boy had a return on equity of 12.38% and a net margin of 5.92%. Analysts anticipate that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.
La-Z-Boy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Tuesday, June 3rd will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Tuesday, June 3rd. La-Z-Boy's dividend payout ratio (DPR) is currently 30.24%.
Wall Street Analyst Weigh In
Separately, KeyCorp upgraded La-Z-Boy from a "sector weight" rating to an "overweight" rating and set a $46.00 target price on the stock in a report on Friday, April 25th.
Get Our Latest Stock Report on La-Z-Boy
About La-Z-Boy
(
Free Report)
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.
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