Wellington Management Group LLP Makes New Investment in La-Z-Boy Incorporated (NYSE:LZB)

Wellington Management Group LLP acquired a new stake in La-Z-Boy Incorporated (NYSE:LZB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 74,000 shares of the company’s stock, valued at approximately $3,177,000. Wellington Management Group LLP owned 0.18% of La-Z-Boy as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Assetmark Inc. bought a new stake in La-Z-Boy in the 3rd quarter valued at $30,000. Quarry LP increased its holdings in shares of La-Z-Boy by 2,550.0% in the second quarter. Quarry LP now owns 1,378 shares of the company’s stock valued at $51,000 after purchasing an additional 1,326 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of La-Z-Boy in the second quarter valued at about $63,000. Innealta Capital LLC acquired a new stake in shares of La-Z-Boy during the 2nd quarter worth about $69,000. Finally, Quest Partners LLC bought a new stake in shares of La-Z-Boy during the 2nd quarter worth about $91,000. 99.62% of the stock is owned by institutional investors and hedge funds.

La-Z-Boy Price Performance

LZB opened at $44.65 on Wednesday. The company has a market capitalization of $1.85 billion, a PE ratio of 15.45 and a beta of 1.34. The business has a fifty day simple moving average of $42.16 and a 200 day simple moving average of $40.81. La-Z-Boy Incorporated has a 1 year low of $32.00 and a 1 year high of $46.35.

La-Z-Boy Increases Dividend

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

Analyst Upgrades and Downgrades

Separately, Sidoti cut 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 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.