JPMorgan Chase & Co. Has $8.92 Million Holdings in La-Z-Boy Incorporated (NYSE:LZB)

JPMorgan Chase & Co. cut its stake in shares of La-Z-Boy Incorporated (NYSE:LZB) by 24.2% in the third quarter, Holdings Channel reports. The firm owned 207,732 shares of the company’s stock after selling 66,341 shares during the quarter. JPMorgan Chase & Co.’s holdings in La-Z-Boy were worth $8,918,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Assetmark Inc. acquired a new stake in shares of La-Z-Boy during the third quarter worth $30,000. TD Private Client Wealth LLC acquired a new stake in shares of La-Z-Boy during the third quarter worth $43,000. Quarry LP grew its stake in shares of La-Z-Boy by 2,550.0% during the second quarter. Quarry LP now owns 1,378 shares of the company’s stock worth $51,000 after purchasing an additional 1,326 shares during the period. Canada Pension Plan Investment Board acquired a new position in La-Z-Boy in the second quarter valued at about $63,000. Finally, Quest Partners LLC acquired a new position in La-Z-Boy in the second quarter valued at about $91,000. 99.62% of the stock is owned by institutional investors and hedge funds.

La-Z-Boy Trading Up 1.1 %

NYSE:LZB opened at $43.90 on Tuesday. La-Z-Boy Incorporated has a 1 year low of $32.00 and a 1 year high of $46.47. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 15.19 and a beta of 1.35. The stock has a 50-day moving average price of $43.59 and a two-hundred day moving average price of $41.74.

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 paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.00%. This is a boost 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 payout ratio is presently 30.45%.

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.