LSV Asset Management Decreases Stock Holdings in La-Z-Boy Incorporated (NYSE:LZB)

LSV Asset Management cut its stake in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,839,931 shares of the company's stock after selling 54,062 shares during the period. LSV Asset Management owned about 4.30% of La-Z-Boy worth $67,930,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of LZB. International Assets Investment Management LLC purchased a new position in La-Z-Boy during the fourth quarter worth about $35,000. SG Americas Securities LLC bought a new position in shares of La-Z-Boy in the third quarter valued at approximately $153,000. TD Asset Management Inc purchased a new stake in shares of La-Z-Boy during the third quarter valued at approximately $204,000. Vest Financial LLC bought a new stake in La-Z-Boy during the fourth quarter worth $241,000. Finally, Quadrature Capital Ltd bought a new position in La-Z-Boy in the 3rd quarter valued at $251,000. 99.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut La-Z-Boy from a "buy" rating to a "hold" rating in a research note on Tuesday, February 13th.

Insiders Place Their Bets

In related news, SVP Michael Adam Leggett sold 3,077 shares of the company's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $37.08, for a total transaction of $114,095.16. Following the sale, the senior vice president now directly owns 21,519 shares in the company, valued at approximately $797,924.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.70% of the company's stock.

La-Z-Boy Stock Performance

LZB traded up $0.23 during midday trading on Friday, reaching $33.21. The company had a trading volume of 311,716 shares, compared to its average volume of 325,412. The business has a 50-day moving average price of $35.53 and a two-hundred day moving average price of $34.80. La-Z-Boy Incorporated has a 12-month low of $25.12 and a 12-month high of $39.87. The stock has a market cap of $1.42 billion, a PE ratio of 12.25 and a beta of 1.19.

La-Z-Boy (NYSE:LZB - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.08). La-Z-Boy had a net margin of 5.73% and a return on equity of 13.55%. The firm had revenue of $500.40 million for the quarter, compared to the consensus estimate of $523.09 million. During the same period last year, the company posted $0.91 earnings per share. La-Z-Boy's revenue for the quarter was down 12.6% on a year-over-year basis. On average, research analysts anticipate that La-Z-Boy Incorporated will post 2.72 earnings per share for the current year.

La-Z-Boy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Tuesday, June 4th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.41%. The ex-dividend date is Friday, May 31st. La-Z-Boy's dividend payout ratio (DPR) is presently 29.52%.

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.