La-Z-Boy Incorporated (NYSE:LZB) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its position in La-Z-Boy Incorporated (NYSE:LZB) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,410 shares of the company’s stock after selling 649 shares during the period. The Manufacturers Life Insurance Company’s holdings in La-Z-Boy were worth $919,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Miller Howard Investments Inc. NY grew its position in La-Z-Boy by 2.3% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 11,356 shares of the company’s stock valued at $423,000 after buying an additional 252 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in La-Z-Boy by 1.4% during the second quarter. Louisiana State Employees Retirement System now owns 21,500 shares of the company’s stock worth $802,000 after purchasing an additional 300 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in La-Z-Boy by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 25,332 shares of the company’s stock worth $944,000 after purchasing an additional 418 shares during the period. Access Investment Management LLC boosted its stake in La-Z-Boy by 0.6% during the 2nd quarter. Access Investment Management LLC now owns 115,795 shares of the company’s stock valued at $4,317,000 after purchasing an additional 640 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of La-Z-Boy by 4.5% during the 2nd quarter. Sei Investments Co. now owns 15,991 shares of the company’s stock valued at $596,000 after purchasing an additional 682 shares during the period. Institutional investors and hedge funds own 99.62% of the company’s stock.

La-Z-Boy Stock Down 2.0 %

Shares of NYSE LZB opened at $44.18 on Friday. The stock’s fifty day simple moving average is $42.02 and its 200 day simple moving average is $40.63. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 15.29 and a beta of 1.34. 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 company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.99%. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, December 5th. La-Z-Boy’s dividend payout ratio (DPR) is presently 30.45%.

Analyst Ratings Changes

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

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.