XTX Topco Ltd Makes New Investment in La-Z-Boy Incorporated (NYSE:LZB)

XTX Topco Ltd acquired a new position in shares of La-Z-Boy Incorporated (NYSE:LZB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 19,858 shares of the company’s stock, valued at approximately $740,000.

Other hedge funds also recently made changes to their positions in the company. Innealta Capital LLC purchased a new position in shares of La-Z-Boy during the second quarter worth about $69,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of La-Z-Boy during the first quarter worth about $70,000. Quest Partners LLC acquired a new stake in shares of La-Z-Boy during the second quarter worth about $91,000. Gallacher Capital Management LLC acquired a new stake in shares of La-Z-Boy during the second quarter worth about $232,000. Finally, SG Americas Securities LLC boosted its stake in shares of La-Z-Boy by 122.7% during the second quarter. SG Americas Securities LLC now owns 6,778 shares of the company’s stock worth $253,000 after buying an additional 3,734 shares during the period. Hedge funds and other institutional investors own 99.62% of the company’s stock.

Insider Activity at La-Z-Boy

In related news, Director Janet Kerr sold 3,890 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $40.89, for a total value of $159,062.10. Following the completion of the sale, the director now owns 3,372 shares in the company, valued at $137,881.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Jennifer Lynn Mccurry sold 4,414 shares of La-Z-Boy stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.31, for a total transaction of $182,342.34. Following the completion of the sale, the chief accounting officer now directly owns 13,236 shares in the company, valued at approximately $546,779.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Janet Kerr sold 3,890 shares of La-Z-Boy stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $40.89, for a total transaction of $159,062.10. Following the sale, the director now owns 3,372 shares of the company’s stock, valued at $137,881.08. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

La-Z-Boy Stock Performance

Shares of LZB opened at $43.45 on Monday. La-Z-Boy Incorporated has a fifty-two week low of $27.92 and a fifty-two week high of $45.23. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 15.35 and a beta of 1.28. The firm has a 50-day simple moving average of $41.63 and a 200-day simple moving average of $37.89.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings data on Tuesday, August 20th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $495.50 million during the quarter, compared to the consensus estimate of $482.23 million. La-Z-Boy had a net margin of 5.89% and a return on equity of 12.90%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 earnings per share. Equities research analysts forecast that La-Z-Boy Incorporated will post 2.98 EPS for the current year.

La-Z-Boy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.80 dividend on an annualized basis and a yield of 1.84%. La-Z-Boy’s payout ratio is currently 28.27%.

Analysts Set New Price Targets

Separately, Sidoti downgraded shares of La-Z-Boy from a “buy” rating to a “neutral” rating and set a $43.00 target price for the company. in a research note on Wednesday, August 21st.

La-Z-Boy 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 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.