Renaissance Technologies LLC Takes Position in La-Z-Boy Incorporated (NYSE:LZB)

Renaissance Technologies LLC bought a new position in shares of La-Z-Boy Incorporated (NYSE:LZB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 93,900 shares of the company’s stock, valued at approximately $3,501,000. Renaissance Technologies LLC owned approximately 0.22% of La-Z-Boy at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LZB. American Century Companies Inc. raised its holdings in La-Z-Boy by 14.5% in the second quarter. American Century Companies Inc. now owns 982,668 shares of the company’s stock valued at $36,634,000 after acquiring an additional 124,409 shares in the last quarter. First Trust Advisors LP lifted its holdings in La-Z-Boy by 31.8% during the 4th quarter. First Trust Advisors LP now owns 789,342 shares of the company’s stock worth $29,143,000 after buying an additional 190,651 shares during the last quarter. Schroder Investment Management Group lifted its stake in La-Z-Boy by 1.3% during the fourth quarter. Schroder Investment Management Group now owns 692,004 shares of the company’s stock worth $25,549,000 after purchasing an additional 8,722 shares during the last quarter. Principal Financial Group Inc. raised its stake in La-Z-Boy by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 235,072 shares of the company’s stock worth $8,843,000 after acquiring an additional 1,739 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in La-Z-Boy by 8.2% during the 1st quarter. Empowered Funds LLC now owns 178,608 shares of the company’s stock worth $6,719,000 after buying an additional 13,475 shares during the last quarter. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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 report on Wednesday, August 21st.

Insiders Place Their Bets

In related news, Director Janet Kerr sold 3,890 shares of the stock in a transaction dated 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 in the company, valued at $137,881.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Janet Kerr sold 3,890 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $40.89, for a total transaction of $159,062.10. Following the completion of the transaction, the director now directly 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 accessible through this link. Also, CAO Jennifer Lynn Mccurry sold 4,414 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $41.31, for a total value of $182,342.34. Following the sale, the chief accounting officer now directly owns 13,236 shares in the company, 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 Trading Up 0.5 %

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

La-Z-Boy (NYSE:LZB) last released its quarterly earnings results on Tuesday, August 20th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. La-Z-Boy had a net margin of 5.89% and a return on equity of 12.90%. The business had revenue of $495.50 million during the quarter, compared to analyst estimates of $482.23 million. During the same period last year, the business earned $0.62 EPS. The business’s revenue was up 2.9% on a year-over-year basis. Analysts forecast that La-Z-Boy Incorporated will post 2.98 earnings per share 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 paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Thursday, September 5th. La-Z-Boy’s dividend payout ratio (DPR) is presently 28.27%.

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.