Silvercrest Asset Management Group LLC trimmed its stake in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 5.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,509,423 shares of the company's stock after selling 83,539 shares during the period. Silvercrest Asset Management Group LLC owned about 3.64% of La-Z-Boy worth $65,766,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in LZB. ProShare Advisors LLC lifted its stake in La-Z-Boy by 44.4% during the fourth quarter. ProShare Advisors LLC now owns 12,742 shares of the company's stock worth $555,000 after purchasing an additional 3,919 shares in the last quarter. Quantedge Capital Pte Ltd raised its holdings in shares of La-Z-Boy by 151.1% in the 4th quarter. Quantedge Capital Pte Ltd now owns 112,500 shares of the company's stock valued at $4,902,000 after buying an additional 67,700 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in La-Z-Boy by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,067 shares of the company's stock worth $1,049,000 after acquiring an additional 917 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in La-Z-Boy by 164.4% during the 4th quarter. Lazard Asset Management LLC now owns 56,060 shares of the company's stock valued at $2,442,000 after acquiring an additional 34,858 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new position in La-Z-Boy in the 4th quarter valued at about $929,000. 99.62% of the stock is owned by hedge funds and other institutional investors.
La-Z-Boy Stock Performance
Shares of NYSE:LZB traded down $1.10 during trading on Wednesday, hitting $42.28. The company's stock had a trading volume of 104,594 shares, compared to its average volume of 485,214. La-Z-Boy Incorporated has a fifty-two week low of $33.34 and a fifty-two week high of $48.31. The business has a 50 day moving average price of $39.63 and a two-hundred day moving average price of $42.53. The company has a market capitalization of $1.75 billion, a PE ratio of 14.56 and a beta of 1.33.
La-Z-Boy (NYSE:LZB - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.01. The firm had revenue of $521.78 million during 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, equities analysts expect that La-Z-Boy Incorporated will post 2.99 earnings per share for the current fiscal year.
La-Z-Boy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Tuesday, June 3rd. La-Z-Boy's dividend payout ratio is presently 30.24%.
Analyst Ratings Changes
Separately, KeyCorp raised shares of La-Z-Boy from a "sector weight" rating to an "overweight" rating and set a $46.00 price target on the stock in a research report on Friday, April 25th.
Check Out Our Latest Stock Report on LZB
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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