Access Investment Management LLC purchased a new stake in La-Z-Boy Incorporated (NYSE:LZB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 115,065 shares of the company's stock, valued at approximately $4,248,000. La-Z-Boy makes up about 1.6% of Access Investment Management LLC's portfolio, making the stock its 20th largest position. Access Investment Management LLC owned about 0.27% of La-Z-Boy as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC bought a new position in La-Z-Boy in the fourth quarter worth $35,000. SG Americas Securities LLC bought a new position in shares of La-Z-Boy in the third quarter valued at about $153,000. TD Asset Management Inc acquired a new position in La-Z-Boy during the 3rd quarter worth about $204,000. Vest Financial LLC bought a new stake in La-Z-Boy during the 4th quarter worth about $241,000. Finally, Quadrature Capital Ltd bought a new stake in La-Z-Boy during the 3rd quarter worth about $251,000. Institutional investors own 99.62% of the company's stock.
Insider Transactions at La-Z-Boy
In related news, SVP Michael Adam Leggett sold 3,077 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $37.08, for a total value of $114,095.16. Following the transaction, the senior vice president now directly owns 21,519 shares in the company, valued at $797,924.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by corporate insiders.
La-Z-Boy Stock Down 0.1 %
NYSE:LZB traded down $0.02 during trading hours on Friday, hitting $35.46. 378,785 shares of the stock were exchanged, compared to its average volume of 328,883. The company has a market capitalization of $1.51 billion, a P/E ratio of 13.08 and a beta of 1.19. The company's 50 day moving average is $35.24 and its two-hundred day moving average is $34.96. La-Z-Boy Incorporated has a twelve month low of $25.12 and a twelve month high of $39.87.
La-Z-Boy (NYSE:LZB - Get Free Report) last released its earnings results on Wednesday, February 21st. The company reported $0.67 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.08). The firm had revenue of $500.40 million for the quarter, compared to the consensus estimate of $523.09 million. La-Z-Boy had a return on equity of 13.55% and a net margin of 5.73%. The company's revenue was down 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. On average, equities research analysts expect that La-Z-Boy Incorporated will post 2.72 EPS for the current year.
La-Z-Boy Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Friday, May 31st. La-Z-Boy's dividend payout ratio is 29.52%.
Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered shares of La-Z-Boy from a "buy" rating to a "hold" rating in a research report on Tuesday, February 13th.
Get Our Latest Analysis 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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