American Century Companies Inc. increased its position in shares of La-Z-Boy Incorporated (NYSE:LZB – Free Report) by 14.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 982,668 shares of the company’s stock after buying an additional 124,409 shares during the period. American Century Companies Inc. owned 2.34% of La-Z-Boy worth $36,634,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its stake in shares of La-Z-Boy by 31.8% during the 4th quarter. First Trust Advisors LP now owns 789,342 shares of the company’s stock worth $29,143,000 after acquiring an additional 190,651 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in La-Z-Boy by 34.9% in the fourth quarter. Allianz Asset Management GmbH now owns 167,776 shares of the company’s stock valued at $6,194,000 after purchasing an additional 43,404 shares during the period. Jackson Creek Investment Advisors LLC acquired a new stake in La-Z-Boy in the second quarter valued at approximately $1,136,000. Quantbot Technologies LP purchased a new stake in shares of La-Z-Boy in the first quarter valued at approximately $1,077,000. Finally, Chatham Capital Group Inc. raised its stake in shares of La-Z-Boy by 43.4% during the 2nd quarter. Chatham Capital Group Inc. now owns 74,236 shares of the company’s stock worth $2,768,000 after buying an additional 22,450 shares during the period. 99.62% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, Sidoti lowered 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.
La-Z-Boy Trading Up 0.3 %
Shares of La-Z-Boy stock opened at $43.05 on Wednesday. La-Z-Boy Incorporated has a twelve month low of $27.92 and a twelve month high of $45.23. The firm has a market capitalization of $1.81 billion, a PE ratio of 15.21 and a beta of 1.28. The firm’s 50-day moving average price is $41.39 and its 200 day moving average price is $37.75.
La-Z-Boy (NYSE:LZB – Get Free Report) last released its earnings results on Tuesday, August 20th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. La-Z-Boy had a return on equity of 12.90% and a net margin of 5.89%. The business had revenue of $495.50 million for the quarter, compared to the consensus estimate of $482.23 million. During the same quarter last year, the business posted $0.62 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, sell-side analysts predict that La-Z-Boy Incorporated will post 2.98 EPS for the current fiscal year.
La-Z-Boy Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Thursday, September 5th. La-Z-Boy’s dividend payout ratio (DPR) is 28.27%.
Insider Transactions at La-Z-Boy
In other La-Z-Boy news, Director Janet Kerr sold 3,890 shares of the 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 sale, the director now owns 3,372 shares in the company, valued at approximately $137,881.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Jennifer Lynn Mccurry sold 4,414 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $41.31, for a total transaction of $182,342.34. Following the transaction, the chief accounting officer now owns 13,236 shares of the company’s stock, valued at approximately $546,779.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Janet Kerr sold 3,890 shares of La-Z-Boy stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $40.89, for a total transaction of $159,062.10. Following the transaction, the director now directly owns 3,372 shares in the company, valued at $137,881.08. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
La-Z-Boy 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.
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