Natixis Advisors L.P. lowered its position in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 57.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,703 shares of the company's stock after selling 29,859 shares during the period. Natixis Advisors L.P. owned approximately 0.05% of La-Z-Boy worth $801,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of LZB. International Assets Investment Management LLC purchased a new stake in La-Z-Boy in the fourth quarter valued at approximately $35,000. TD Asset Management Inc acquired a new position in La-Z-Boy in the third quarter valued at approximately $204,000. Vest Financial LLC acquired a new position in La-Z-Boy in the fourth quarter valued at approximately $241,000. Quadrature Capital Ltd acquired a new position in La-Z-Boy in the third quarter valued at approximately $251,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in La-Z-Boy by 33.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,367 shares of the company's stock valued at $289,000 after acquiring an additional 2,345 shares during the period. Hedge funds and other institutional investors own 99.62% of the company's stock.
Insider Transactions at La-Z-Boy
In other news, SVP Michael Adam Leggett sold 3,077 shares of the company's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $37.08, for a total transaction of $114,095.16. Following the completion of the transaction, the senior vice president now directly owns 21,519 shares of the company's stock, valued at approximately $797,924.52. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.70% of the company's stock.
La-Z-Boy Price Performance
NYSE:LZB traded up $0.30 during trading hours on Friday, reaching $36.33. The company had a trading volume of 297,947 shares, compared to its average volume of 322,864. La-Z-Boy Incorporated has a 1-year low of $25.12 and a 1-year high of $39.87. The firm has a market cap of $1.55 billion, a PE ratio of 13.41 and a beta of 1.19. The business's 50 day moving average price is $35.18 and its 200-day moving average price is $35.21.
La-Z-Boy (NYSE:LZB - Get Free Report) last announced its earnings results 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). The business had revenue of $500.40 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 12.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 earnings per share. On average, analysts expect that La-Z-Boy Incorporated will post 2.72 earnings per share for the current fiscal year.
La-Z-Boy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, June 4th. La-Z-Boy's payout ratio is 29.52%.
Wall Street Analysts Forecast Growth
Separately, StockNews.com downgraded La-Z-Boy from a "buy" rating to a "hold" rating in a report on Tuesday, February 13th.
Get Our Latest Analysis on La-Z-Boy
La-Z-Boy Company Profile
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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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