SG Americas Securities LLC Raises Holdings in La-Z-Boy Incorporated (NYSE:LZB)

SG Americas Securities LLC lifted its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 159.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,588 shares of the company’s stock after purchasing an additional 10,810 shares during the period. SG Americas Securities LLC’s holdings in La-Z-Boy were worth $755,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Quarry LP boosted its position in 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 acquiring an additional 1,326 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in La-Z-Boy during the second quarter worth approximately $63,000. Innealta Capital LLC acquired a new stake in La-Z-Boy during the second quarter worth approximately $69,000. Allspring Global Investments Holdings LLC acquired a new stake in La-Z-Boy during the first quarter worth approximately $70,000. Finally, Quest Partners LLC acquired a new stake in La-Z-Boy during the second quarter worth approximately $91,000. 99.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Jennifer Lynn Mccurry sold 4,414 shares of La-Z-Boy stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.31, for a total transaction of $182,342.34. Following the sale, the chief accounting officer now owns 13,236 shares of the company’s stock, valued at $546,779.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Janet Kerr sold 3,890 shares of La-Z-Boy 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 transaction, the director now directly owns 3,372 shares of the company’s stock, valued at approximately $137,881.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Jennifer Lynn Mccurry sold 4,414 shares of La-Z-Boy 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 completion of the transaction, the chief accounting officer now directly owns 13,236 shares of the company’s stock, valued at $546,779.16. This trade represents 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 currently owned by insiders.

La-Z-Boy Stock Up 0.1 %

Shares of LZB opened at $39.45 on Friday. The firm has a market cap of $1.65 billion, a PE ratio of 13.94 and a beta of 1.28. The company’s fifty day moving average is $41.28 and its two-hundred day moving average is $38.39. La-Z-Boy Incorporated has a fifty-two week low of $27.92 and a fifty-two week high of $45.23.

La-Z-Boy (NYSE:LZB) last posted 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. The business had revenue of $495.50 million for the quarter, compared to analyst estimates of $482.23 million. La-Z-Boy had a net margin of 5.89% and a return on equity of 12.90%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 EPS. As a group, equities research analysts anticipate that La-Z-Boy Incorporated will post 2.98 earnings per share for the current year.

La-Z-Boy Announces Dividend

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

Wall Street Analyst Weigh In

Separately, Sidoti lowered 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.