La-Z-Boy Inc. (LZB) Position Held by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can held its stake in shares of La-Z-Boy Inc. (NYSE:LZB) during the second quarter, Holdings Channel reports. The institutional investor owned 5,830 shares of the company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in La-Z-Boy were worth $156,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in the company. Quantbot Technologies LP increased its stake in shares of La-Z-Boy by 270.7% in the second quarter. Quantbot Technologies LP now owns 3,726 shares of the company’s stock valued at $103,000 after buying an additional 2,721 shares in the last quarter. BlackRock Inc. raised its stake in La-Z-Boy by 135.1% in the first quarter. BlackRock Inc. now owns 4,021 shares of the company’s stock valued at $108,000 after buying an additional 2,311 shares during the last quarter. Gray Financial Group GA ADV ADV purchased a new stake in La-Z-Boy during the second quarter valued at about $155,000. Fox Run Management L.L.C. purchased a new stake in La-Z-Boy during the second quarter valued at about $200,000. Finally, First Quadrant L P CA purchased a new stake in La-Z-Boy during the second quarter valued at about $206,000. 86.05% of the stock is currently owned by institutional investors.
Shares of La-Z-Boy Inc. (NYSE:LZB) traded up 1.49% on Wednesday, reaching $25.88. 209,243 shares of the company were exchanged. The stock has a 50 day moving average of $28.12 and a 200-day moving average of $27.09. La-Z-Boy Inc. has a 52-week low of $19.56 and a 52-week high of $31.22. The company has a market capitalization of $1.27 billion, a P/E ratio of 16.56 and a beta of 1.35.
La-Z-Boy (NYSE:LZB) last posted its quarterly earnings data on Tuesday, August 23rd. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by $0.01. The business earned $340.80 million during the quarter, compared to analyst estimates of $358.79 million. La-Z-Boy had a net margin of 5.21% and a return on equity of 15.01%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 earnings per share. On average, analysts predict that La-Z-Boy Inc. will post $1.71 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, September 2nd were paid a $0.10 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.40 dividend on an annualized basis and a yield of 1.55%. La-Z-Boy’s dividend payout ratio is presently 25.48%.
LZB has been the topic of several recent analyst reports. Zacks Investment Research raised shares of La-Z-Boy from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Friday, June 24th. Longbow Research initiated coverage on shares of La-Z-Boy in a research note on Friday, August 5th. They set a “neutral” rating on the stock.
In other La-Z-Boy news, SVP John Douglas Collier sold 15,000 shares of La-Z-Boy stock in a transaction on Monday, June 27th. The shares were sold at an average price of $26.86, for a total value of $402,900.00. Following the transaction, the senior vice president now directly owns 81,065 shares in the company, valued at $2,177,405.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Louis M. Riccio, Jr. sold 8,000 shares of La-Z-Boy stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $28.17, for a total transaction of $225,360.00. Following the completion of the transaction, the chief financial officer now owns 115,651 shares in the company, valued at $3,257,888.67. The disclosure for this sale can be found here. 3.57% of the stock is currently owned by company insiders.
La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstery furniture products. The Company also imports, distributes and retails accessories and casegoods (wood) furniture products. The Company’s segments include the Upholstery segment, the Casegoods segment and the Retail segment.
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