The Manufacturers Life Insurance Company Acquires 672 Shares of La-Z-Boy Incorporated (NYSE:LZB)

The Manufacturers Life Insurance Company grew its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,059 shares of the company’s stock after purchasing an additional 672 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of La-Z-Boy worth $822,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LZB. Canada Pension Plan Investment Board purchased a new position in La-Z-Boy during the second quarter valued at approximately $63,000. Innealta Capital LLC purchased a new position in shares of La-Z-Boy in the 2nd quarter valued at $69,000. Allspring Global Investments Holdings LLC purchased a new position in shares of La-Z-Boy in the 1st quarter valued at $70,000. Quest Partners LLC bought a new position in shares of La-Z-Boy in the 2nd quarter worth $91,000. Finally, Gallacher Capital Management LLC purchased a new stake in shares of La-Z-Boy during the 2nd quarter worth $232,000. Institutional investors own 99.62% of the company’s stock.

Analyst Ratings Changes

Separately, Sidoti lowered La-Z-Boy from a “buy” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research note on Wednesday, August 21st.

Insider Activity at La-Z-Boy

In other La-Z-Boy news, CAO Jennifer Lynn Mccurry sold 4,414 shares of La-Z-Boy stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 13,236 shares in the company, valued at approximately $546,779.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other La-Z-Boy news, Director Janet Kerr sold 3,890 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 3,372 shares in the company, valued at approximately $137,881.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Jennifer Lynn Mccurry sold 4,414 shares of La-Z-Boy stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 13,236 shares of the company’s stock, valued at approximately $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 owned by insiders.

La-Z-Boy Stock Up 0.1 %

NYSE:LZB opened at $39.45 on Monday. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 13.94 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 $41.28 and a 200 day moving average of $38.40.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $495.50 million during the quarter, compared to analysts’ expectations of $482.23 million. During the same quarter last year, the firm earned $0.62 EPS. The business’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, analysts expect that La-Z-Boy Incorporated will post 2.98 EPS for the current year.

La-Z-Boy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend 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%.

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.