Lazard Asset Management LLC Raises Stock Holdings in La-Z-Boy Incorporated (NYSE:LZB)

Lazard Asset Management LLC boosted its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 164.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,060 shares of the company's stock after purchasing an additional 34,858 shares during the quarter. Lazard Asset Management LLC owned about 0.14% of La-Z-Boy worth $2,442,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. bought a new stake in La-Z-Boy during the 4th quarter valued at approximately $929,000. D. E. Shaw & Co. Inc. raised its stake in La-Z-Boy by 6.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 44,692 shares of the company's stock valued at $1,947,000 after purchasing an additional 2,792 shares during the period. Deutsche Bank AG raised its stake in La-Z-Boy by 48.5% during the 4th quarter. Deutsche Bank AG now owns 35,590 shares of the company's stock valued at $1,551,000 after purchasing an additional 11,622 shares during the period. Centiva Capital LP bought a new stake in La-Z-Boy during the 4th quarter valued at approximately $392,000. Finally, Bridgefront Capital LLC bought a new stake in La-Z-Boy during the 4th quarter valued at approximately $214,000. Institutional investors own 99.62% of the company's stock.

La-Z-Boy Trading Down 0.6%

Shares of NYSE LZB traded down $0.25 during trading hours on Tuesday, hitting $43.37. 310,159 shares of the company traded hands, compared to its average volume of 486,108. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 14.90 and a beta of 1.33. The company's 50 day moving average price is $39.52 and its 200 day moving average price is $42.52. La-Z-Boy Incorporated has a 12 month low of $33.34 and a 12 month high of $48.31.

La-Z-Boy (NYSE:LZB - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. The company had revenue of $521.78 million for 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%. Equities analysts anticipate that La-Z-Boy Incorporated will post 2.99 EPS for the current year.

La-Z-Boy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Tuesday, June 3rd will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Tuesday, June 3rd. La-Z-Boy's dividend payout ratio is 30.24%.

Analyst Ratings Changes

Separately, KeyCorp raised La-Z-Boy from a "sector weight" rating to an "overweight" rating and set a $46.00 price objective on the stock in a research note on Friday, April 25th.

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.