La-Z-Boy Incorporated (NYSE:LZB) Stock Position Raised by State Street Corp

State Street Corp boosted its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,672,009 shares of the company’s stock after purchasing an additional 6,925 shares during the period. State Street Corp owned 4.00% of La-Z-Boy worth $71,779,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LZB. Miller Howard Investments Inc. NY boosted its position in shares of La-Z-Boy by 2.3% in the second quarter. Miller Howard Investments Inc. NY now owns 11,356 shares of the company’s stock worth $423,000 after buying an additional 252 shares during the period. Louisiana State Employees Retirement System boosted its position in La-Z-Boy by 1.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 21,500 shares of the company’s stock worth $802,000 after acquiring an additional 300 shares during the period. SummerHaven Investment Management LLC grew its stake in La-Z-Boy by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 25,332 shares of the company’s stock valued at $944,000 after acquiring an additional 418 shares in the last quarter. Access Investment Management LLC increased its holdings in shares of La-Z-Boy by 0.6% in 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 during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of La-Z-Boy by 3.1% in the second quarter. The Manufacturers Life Insurance Company now owns 22,059 shares of the company’s stock worth $822,000 after purchasing an additional 672 shares in the last quarter. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

La-Z-Boy Stock Up 0.1 %

LZB stock opened at $44.65 on Wednesday. The firm has a 50 day moving average of $42.16 and a two-hundred day moving average of $40.81. La-Z-Boy Incorporated has a 12 month low of $32.00 and a 12 month high of $46.35. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 15.44 and a beta of 1.34.

La-Z-Boy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, December 5th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.97%. This is an increase from La-Z-Boy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, December 5th. La-Z-Boy’s dividend payout ratio is presently 30.45%.

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 target on the stock. in a research note on Wednesday, August 21st.

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.