Thrivent Financial for Lutherans Decreases Stock Position in La-Z-Boy Incorporated (NYSE:LZB)

Thrivent Financial for Lutherans reduced its stake in La-Z-Boy Incorporated (NYSE:LZB) by 40.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,478 shares of the company’s stock after selling 24,202 shares during the period. Thrivent Financial for Lutherans’ holdings in La-Z-Boy were worth $1,323,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in LZB. Campbell & CO Investment Adviser LLC bought a new position in shares of La-Z-Boy in the fourth quarter worth $776,000. First Trust Advisors LP boosted its holdings in shares of La-Z-Boy by 31.8% in the fourth quarter. First Trust Advisors LP now owns 789,342 shares of the company’s stock worth $29,143,000 after acquiring an additional 190,651 shares during the period. Schroder Investment Management Group boosted its holdings in shares of La-Z-Boy by 1.3% in the fourth quarter. Schroder Investment Management Group now owns 692,004 shares of the company’s stock worth $25,549,000 after acquiring an additional 8,722 shares during the period. Quadrature Capital Ltd boosted its holdings in shares of La-Z-Boy by 25.3% in the fourth quarter. Quadrature Capital Ltd now owns 10,181 shares of the company’s stock worth $376,000 after acquiring an additional 2,054 shares during the period. Finally, Bridge City Capital LLC boosted its holdings in shares of La-Z-Boy by 0.8% in the first quarter. Bridge City Capital LLC now owns 82,642 shares of the company’s stock worth $3,109,000 after acquiring an additional 647 shares during the period. 99.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Sidoti lowered 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 Performance

NYSE:LZB opened at $41.33 on Friday. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 14.60 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. The stock has a fifty day moving average of $41.62 and a 200 day moving average of $38.26.

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

La-Z-Boy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders 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 1.94%. The ex-dividend date of this dividend was Thursday, September 5th. La-Z-Boy’s dividend payout ratio (DPR) is currently 28.27%.

Insiders Place Their Bets

In other La-Z-Boy news, Director Janet Kerr sold 3,890 shares of La-Z-Boy stock in a transaction dated 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 sale, the director now owns 3,372 shares of the company’s stock, valued at $137,881.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other La-Z-Boy news, CAO Jennifer Lynn Mccurry sold 4,414 shares of La-Z-Boy stock in a transaction dated Monday, August 26th. The stock was 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 owns 13,236 shares of the company’s stock, valued at $546,779.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Janet Kerr sold 3,890 shares of La-Z-Boy stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $40.89, for a total value of $159,062.10. Following the sale, the director now directly owns 3,372 shares of the company’s stock, valued at approximately $137,881.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

About La-Z-Boy

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.