Cwm LLC Sells 1,474 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Cwm LLC lessened its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 5.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,959 shares of the company’s stock after selling 1,474 shares during the period. Cwm LLC owned approximately 0.06% of La-Z-Boy worth $1,157,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. lifted its stake in La-Z-Boy by 14.5% in the second quarter. American Century Companies Inc. now owns 982,668 shares of the company’s stock valued at $36,634,000 after buying an additional 124,409 shares in the last quarter. Squarepoint Ops LLC lifted its position in La-Z-Boy by 263.6% in the 2nd quarter. Squarepoint Ops LLC now owns 150,617 shares of the company’s stock valued at $5,615,000 after acquiring an additional 109,188 shares in the last quarter. Pacer Advisors Inc. boosted its stake in La-Z-Boy by 7.5% in the 2nd quarter. Pacer Advisors Inc. now owns 1,394,677 shares of the company’s stock worth $51,994,000 after purchasing an additional 97,680 shares during the period. Millennium Management LLC increased its holdings in La-Z-Boy by 125.6% during the 2nd quarter. Millennium Management LLC now owns 174,249 shares of the company’s stock worth $6,496,000 after purchasing an additional 97,023 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in La-Z-Boy during the 2nd quarter worth about $3,501,000. 99.62% of the stock is currently owned by institutional investors and hedge funds.

La-Z-Boy Stock Up 1.6 %

Shares of LZB stock opened at $41.03 on Thursday. La-Z-Boy Incorporated has a 12 month low of $27.92 and a 12 month high of $45.23. The company’s fifty day simple moving average is $41.22 and its 200-day simple moving average is $38.44. The firm has a market cap of $1.72 billion, a PE ratio of 14.50 and a beta of 1.28.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $0.62 EPS for the quarter, topping 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 quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 EPS. On average, equities analysts predict that La-Z-Boy Incorporated will post 2.98 earnings per share for the current fiscal year.

La-Z-Boy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, September 5th. La-Z-Boy’s dividend payout ratio is currently 28.27%.

Insider Activity

In related news, CAO Jennifer Lynn Mccurry sold 4,414 shares of the business’s 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Janet Kerr sold 3,890 shares of the firm’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 completion of the sale, the director now directly owns 3,372 shares of the company’s stock, valued at $137,881.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 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 owns 13,236 shares of the company’s stock, valued at $546,779.16. This 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.

Analyst Ratings Changes

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 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.