Millennium Management LLC Increases Position in La-Z-Boy Incorporated (NYSE:LZB)

Millennium Management LLC raised its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 125.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 174,249 shares of the company’s stock after buying an additional 97,023 shares during the period. Millennium Management LLC owned about 0.42% of La-Z-Boy worth $6,496,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Miller Howard Investments Inc. NY boosted its holdings 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 valued at $423,000 after purchasing an additional 252 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of La-Z-Boy by 1.4% in the second quarter. Louisiana State Employees Retirement System now owns 21,500 shares of the company’s stock valued at $802,000 after purchasing an additional 300 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in shares of La-Z-Boy by 0.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 36,639 shares of the company’s stock valued at $1,379,000 after purchasing an additional 307 shares during the period. SummerHaven Investment Management LLC boosted its holdings in shares of La-Z-Boy by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 25,332 shares of the company’s stock valued at $944,000 after purchasing an additional 418 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of La-Z-Boy by 7.4% in the first quarter. ProShare Advisors LLC now owns 8,742 shares of the company’s stock valued at $329,000 after purchasing an additional 599 shares during the period. Hedge funds and other institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Down 1.9 %

Shares of NYSE:LZB opened at $39.39 on Friday. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 13.92 and a beta of 1.28. La-Z-Boy Incorporated has a 52 week low of $27.92 and a 52 week high of $45.23. The firm has a 50 day moving average of $41.34 and a 200 day moving average of $38.36.

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

La-Z-Boy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Thursday, September 5th. La-Z-Boy’s payout ratio is 28.27%.

Insider Activity at La-Z-Boy

In related news, CAO Jennifer Lynn Mccurry sold 4,414 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.31, for a total value of $182,342.34. Following the transaction, the chief accounting officer now directly owns 13,236 shares of the company’s stock, valued at $546,779.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other La-Z-Boy news, CAO Jennifer Lynn Mccurry sold 4,414 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.31, for a total value of $182,342.34. Following the sale, the chief accounting officer now directly owns 13,236 shares of the company’s stock, valued at approximately $546,779.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Janet Kerr sold 3,890 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $40.89, for a total transaction of $159,062.10. Following the completion of the sale, the director now directly owns 3,372 shares in the company, valued at approximately $137,881.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Sidoti downgraded shares of La-Z-Boy from a “buy” rating to a “neutral” rating and set a $43.00 price objective for the company. 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.