S&P 500   3,841.94
DOW   31,496.30
QQQ   308.68
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S&P 500   3,841.94
DOW   31,496.30
QQQ   308.68
pixel
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S&P 500   3,841.94
DOW   31,496.30
QQQ   308.68
pixel
pixel
S&P 500   3,841.94
DOW   31,496.30
QQQ   308.68
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La-Z-Boy Incorporated (NYSE:LZB) Director Acquires $10,115.85 in Stock

Last updated on Wednesday, February 24, 2021 | 2021 MarketBeat

La-Z-Boy Incorporated (NYSE:LZB) Director James P. Hackett purchased 255 shares of the stock in a transaction on Wednesday, February 24th. The shares were purchased at an average cost of $39.67 per share, with a total value of $10,115.85. Following the transaction, the director now owns 520 shares in the company, valued at approximately $20,628.40. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of NYSE LZB traded up $2.05 during trading on Wednesday, reaching $41.66. 568,643 shares of the company traded hands, compared to its average volume of 475,307. The firm's fifty day simple moving average is $41.35 and its 200 day simple moving average is $36.91. The stock has a market cap of $1.93 billion, a P/E ratio of 25.40 and a beta of 1.15. La-Z-Boy Incorporated has a 12-month low of $15.61 and a 12-month high of $46.34.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings data on Monday, February 15th. The company reported $0.74 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.70 by $0.04. La-Z-Boy had a return on equity of 14.11% and a net margin of 4.82%. As a group, equities analysts expect that La-Z-Boy Incorporated will post 2.73 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 15th. Shareholders of record on Thursday, March 4th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, March 3rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.44%. This is a positive change from La-Z-Boy's previous quarterly dividend of $0.14. La-Z-Boy's dividend payout ratio (DPR) is presently 25.93%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Truist Financial Corp raised its stake in shares of La-Z-Boy by 34.8% during the 4th quarter. Truist Financial Corp now owns 14,510 shares of the company's stock valued at $578,000 after buying an additional 3,744 shares during the last quarter. Glenmede Trust Co. NA increased its stake in shares of La-Z-Boy by 57,373.7% in the 4th quarter. Glenmede Trust Co. NA now owns 463,813 shares of the company's stock valued at $18,478,000 after purchasing an additional 463,006 shares in the last quarter. Morgan Stanley increased its stake in shares of La-Z-Boy by 539.0% in the 4th quarter. Morgan Stanley now owns 966,062 shares of the company's stock valued at $38,487,000 after purchasing an additional 814,871 shares in the last quarter. Kingsview Wealth Management LLC purchased a new position in shares of La-Z-Boy in the 4th quarter valued at about $971,000. Finally, Brown Advisory Inc. increased its stake in shares of La-Z-Boy by 101.2% in the 4th quarter. Brown Advisory Inc. now owns 916,349 shares of the company's stock valued at $36,508,000 after purchasing an additional 460,804 shares in the last quarter. Institutional investors and hedge funds own 91.19% of the company's stock.

A number of brokerages have commented on LZB. Raymond James lifted their price target on La-Z-Boy from $37.00 to $46.00 and gave the stock an "outperform" rating in a research report on Thursday, November 19th. Zacks Investment Research cut La-Z-Boy from a "hold" rating to a "strong sell" rating in a research report on Thursday, February 4th. Finally, TheStreet raised La-Z-Boy from a "c+" rating to a "b" rating in a research report on Wednesday, February 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of "Hold" and an average price target of $43.00.

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 Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.

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