Kingsview Wealth Management LLC Invests $245,000 in La-Z-Boy Incorporated (NYSE:LZB)

Kingsview Wealth Management LLC bought a new stake in La-Z-Boy Incorporated (NYSE:LZB) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 5,703 shares of the company’s stock, valued at approximately $245,000.

Several other large investors have also modified their holdings of LZB. abrdn plc bought a new stake in La-Z-Boy in the third quarter valued at about $10,809,000. American Century Companies Inc. grew its position in shares of La-Z-Boy by 14.5% in the 2nd quarter. American Century Companies Inc. now owns 982,668 shares of the company’s stock worth $36,634,000 after acquiring an additional 124,409 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of La-Z-Boy by 263.6% during the 2nd quarter. Squarepoint Ops LLC now owns 150,617 shares of the company’s stock valued at $5,615,000 after acquiring an additional 109,188 shares in the last quarter. Pacer Advisors Inc. lifted its stake in La-Z-Boy by 7.5% during the second quarter. Pacer Advisors Inc. now owns 1,394,677 shares of the company’s stock worth $51,994,000 after purchasing an additional 97,680 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in La-Z-Boy by 125.6% during the second quarter. Millennium Management LLC now owns 174,249 shares of the company’s stock worth $6,496,000 after purchasing an additional 97,023 shares during the last quarter. Institutional investors own 99.62% of the company’s stock.

La-Z-Boy Trading Up 0.3 %

NYSE:LZB opened at $45.27 on Friday. The stock has a 50 day moving average of $41.48 and a 200-day moving average of $40.05. The firm has a market capitalization of $1.88 billion, a PE ratio of 15.66 and a beta of 1.29. La-Z-Boy Incorporated has a 52 week low of $32.00 and a 52 week high of $46.35.

La-Z-Boy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be paid a dividend of $0.22 per share. This is an increase from La-Z-Boy’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, December 5th. La-Z-Boy’s dividend payout ratio is presently 30.45%.

Analyst Ratings Changes

Separately, Sidoti cut shares of La-Z-Boy from a “buy” rating to a “neutral” rating and set a $43.00 target price on the stock. in a report on Wednesday, August 21st.

Insiders Place Their Bets

In other La-Z-Boy news, Director Janet Kerr sold 3,890 shares of the company’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 transaction, the director now owns 3,372 shares in the company, valued at approximately $137,881.08. This represents a 53.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is 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.