Principal Financial Group Inc. Has $10,127,000 Stake in La-Z-Boy Inc. (LZB)
Principal Financial Group Inc. raised its stake in La-Z-Boy Inc. (NYSE:LZB) by 2.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 364,019 shares of the company’s stock after buying an additional 8,221 shares during the period. Principal Financial Group Inc. owned about 0.74% of La-Z-Boy worth $10,127,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Capstone Asset Management Co. boosted its stake in shares of La-Z-Boy by 0.6% in the second quarter. Capstone Asset Management Co. now owns 14,703 shares of the company’s stock valued at $409,000 after buying an additional 90 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of La-Z-Boy by 20.6% in the second quarter. Prudential Financial Inc. now owns 553,990 shares of the company’s stock valued at $15,412,000 after buying an additional 94,800 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of La-Z-Boy by 2.4% in the first quarter. Wellington Management Group LLP now owns 2,175,316 shares of the company’s stock valued at $58,167,000 after buying an additional 50,884 shares in the last quarter. BlackRock Group LTD boosted its stake in shares of La-Z-Boy by 19.5% in the first quarter. BlackRock Group LTD now owns 109,630 shares of the company’s stock valued at $2,932,000 after buying an additional 17,922 shares in the last quarter. Finally, Aperio Group LLC acquired a new stake in shares of La-Z-Boy during the first quarter valued at $271,000. 86.05% of the stock is currently owned by institutional investors.
La-Z-Boy Inc. (NYSE:LZB) opened at 24.37 on Friday. The stock’s 50 day moving average is $25.59 and its 200-day moving average is $26.97. The company has a market cap of $1.20 billion, a PE ratio of 15.59 and a beta of 1.27. La-Z-Boy Inc. has a 52-week low of $19.56 and a 52-week high of $31.22.
La-Z-Boy (NYSE:LZB) last announced its earnings results on Tuesday, August 23rd. The company reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.01. La-Z-Boy had a net margin of 5.21% and a return on equity of 15.01%. The firm earned $340.80 million during the quarter, compared to analysts’ expectations of $358.79 million. During the same period in the prior year, the company posted $0.27 EPS. The company’s revenue was down .2% compared to the same quarter last year. Equities research analysts predict that La-Z-Boy Inc. will post $1.71 EPS for the current fiscal year.
Several analysts recently weighed in on LZB shares. Zacks Investment Research cut shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Tuesday, August 23rd. Longbow Research began coverage on shares of La-Z-Boy in a research report on Friday, August 5th. They set a “neutral” rating on the stock. Finally, KeyCorp reaffirmed a “buy” rating and set a $28.00 price target on shares of La-Z-Boy in a research report on Monday, October 10th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $30.33.
In related news, insider Otis S. Sawyer sold 5,935 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $27.46, for a total value of $162,975.10. Following the transaction, the insider now owns 62,216 shares of the company’s stock, valued at approximately $1,708,451.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Douglas Collier sold 26,874 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $26.17, for a total transaction of $703,292.58. Following the completion of the transaction, the insider now directly owns 98,849 shares in the company, valued at approximately $2,586,878.33. The disclosure for this sale can be found here. 3.57% of the stock is currently owned by corporate insiders.
La-Z-Boy Company Profile
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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