Norges Bank Takes Position in La-Z-Boy Incorporated (NYSE:LZB)

Norges Bank acquired a new position in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 132,798 shares of the company's stock, valued at approximately $5,786,000. Norges Bank owned about 0.32% of La-Z-Boy at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its position in shares of La-Z-Boy by 338.4% in the 4th quarter. Teacher Retirement System of Texas now owns 163,713 shares of the company's stock valued at $7,133,000 after acquiring an additional 126,371 shares during the period. abrdn plc increased its holdings in shares of La-Z-Boy by 38.1% in the fourth quarter. abrdn plc now owns 347,589 shares of the company's stock valued at $15,148,000 after purchasing an additional 95,812 shares during the period. JPMorgan Chase & Co. raised its stake in shares of La-Z-Boy by 40.5% in the fourth quarter. JPMorgan Chase & Co. now owns 291,912 shares of the company's stock worth $12,719,000 after purchasing an additional 84,180 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of La-Z-Boy in the third quarter worth about $3,177,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of La-Z-Boy by 67.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 143,949 shares of the company's stock worth $6,272,000 after purchasing an additional 58,146 shares during the period. Institutional investors own 99.62% of the company's stock.

La-Z-Boy Price Performance

NYSE:LZB traded down $0.17 during midday trading on Tuesday, hitting $38.28. The company's stock had a trading volume of 50,099 shares, compared to its average volume of 553,745. La-Z-Boy Incorporated has a fifty-two week low of $32.00 and a fifty-two week high of $48.31. The firm's 50 day moving average is $41.33 and its 200-day moving average is $42.46. The firm has a market cap of $1.58 billion, a P/E ratio of 13.15 and a beta of 1.31.

La-Z-Boy (NYSE:LZB - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. The firm had revenue of $521.78 million for the quarter, compared to analyst estimates of $516.47 million. La-Z-Boy had a return on equity of 12.38% and a net margin of 5.92%. As a group, analysts forecast that La-Z-Boy Incorporated will post 2.99 EPS for the current year.

La-Z-Boy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Tuesday, March 4th. La-Z-Boy's dividend payout ratio is presently 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.