Pacer Advisors Inc. Boosts Holdings in La-Z-Boy Incorporated (NYSE:LZB)

Pacer Advisors Inc. raised its position in La-Z-Boy Incorporated (NYSE:LZB) by 7.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,394,677 shares of the company’s stock after acquiring an additional 97,680 shares during the quarter. Pacer Advisors Inc.’s holdings in La-Z-Boy were worth $51,994,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new position in shares of La-Z-Boy during the second quarter worth about $63,000. Intech Investment Management LLC acquired a new position in La-Z-Boy during the 2nd quarter worth approximately $609,000. XTX Topco Ltd purchased a new position in shares of La-Z-Boy during the 2nd quarter worth approximately $740,000. Hsbc Holdings PLC lifted its holdings in shares of La-Z-Boy by 45.3% in the 2nd quarter. Hsbc Holdings PLC now owns 8,959 shares of the company’s stock valued at $332,000 after buying an additional 2,794 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of La-Z-Boy in the second quarter valued at approximately $3,501,000. Hedge funds and other institutional investors own 99.62% of the company’s stock.

Insider Transactions at La-Z-Boy

In related 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 sale, the director now directly owns 3,372 shares of the company’s stock, valued at approximately $137,881.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other La-Z-Boy news, CAO Jennifer Lynn Mccurry sold 4,414 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.31, for a total transaction of $182,342.34. Following the completion of the transaction, the chief accounting officer now owns 13,236 shares of the company’s stock, valued at $546,779.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Janet Kerr sold 3,890 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $40.89, for a total value of $159,062.10. Following the completion of the transaction, the director now directly owns 3,372 shares of the company’s stock, valued at $137,881.08. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

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

La-Z-Boy Stock Down 1.1 %

Shares of NYSE LZB opened at $43.45 on Friday. The firm has a 50-day moving average price of $41.63 and a 200 day moving average price of $37.88. La-Z-Boy Incorporated has a 52 week low of $27.92 and a 52 week high of $45.23. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 15.35 and a beta of 1.28.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings results on Tuesday, August 20th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The company had revenue of $495.50 million during the quarter, compared to the consensus estimate of $482.23 million. La-Z-Boy had a net margin of 5.89% and a return on equity of 12.90%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $0.62 EPS. Equities research analysts expect that La-Z-Boy Incorporated will post 2.98 EPS for the current fiscal year.

La-Z-Boy Announces Dividend

The company also recently declared 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 1.84%. The ex-dividend date of this dividend was Thursday, September 5th. La-Z-Boy’s dividend payout ratio is currently 28.27%.

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.