Canada Pension Plan Investment Board Purchases Shares of 1,700 La-Z-Boy Incorporated (NYSE:LZB)

Canada Pension Plan Investment Board acquired a new position in La-Z-Boy Incorporated (NYSE:LZB) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,700 shares of the company’s stock, valued at approximately $63,000.

Several other large investors have also recently modified their holdings of LZB. Allianz Asset Management GmbH boosted its position in shares of La-Z-Boy by 34.9% in the 4th quarter. Allianz Asset Management GmbH now owns 167,776 shares of the company’s stock worth $6,194,000 after purchasing an additional 43,404 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of La-Z-Boy during the first quarter worth about $1,077,000. Texas Permanent School Fund Corp increased its holdings in shares of La-Z-Boy by 32.0% during the second quarter. Texas Permanent School Fund Corp now owns 49,422 shares of the company’s stock valued at $1,842,000 after acquiring an additional 11,981 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of La-Z-Boy in the 2nd quarter valued at approximately $740,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in La-Z-Boy by 4.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,436 shares of the company’s stock worth $2,425,000 after purchasing an additional 2,717 shares in the last quarter. Institutional investors own 99.62% of the company’s stock.

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 price objective for the company. in a research note on Wednesday, August 21st.

La-Z-Boy Stock Up 0.5 %

La-Z-Boy stock opened at $42.56 on Monday. The stock has a 50-day moving average price of $41.68 and a 200 day moving average price of $38.09. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 15.04 and a beta of 1.28. La-Z-Boy Incorporated has a 52 week low of $27.92 and a 52 week high of $45.23.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings data on Tuesday, August 20th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. The business had revenue of $495.50 million for 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 business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS. Research analysts anticipate that La-Z-Boy Incorporated will post 2.98 EPS for the current fiscal year.

La-Z-Boy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.88%. The ex-dividend date was Thursday, September 5th. La-Z-Boy’s dividend payout ratio is currently 28.27%.

Insider Buying and Selling at La-Z-Boy

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

La-Z-Boy Company 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.