Vident Investment Advisory LLC Has $2,581,000 Stake in La-Z-Boy Incorporated (LZB)
Vident Investment Advisory LLC raised its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 7.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 83,116 shares of the company’s stock after buying an additional 6,101 shares during the period. Vident Investment Advisory LLC’s holdings in La-Z-Boy were worth $2,581,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of LZB. Icon Advisers Inc. Co. purchased a new stake in La-Z-Boy during the third quarter worth $332,000. UBS Asset Management Americas Inc. boosted its stake in La-Z-Boy by 9.1% in the third quarter. UBS Asset Management Americas Inc. now owns 25,098 shares of the company’s stock worth $616,000 after buying an additional 2,100 shares in the last quarter. Lucus Advisors LLC purchased a new stake in La-Z-Boy during the third quarter worth $394,000. Bank of New York Mellon Corp boosted its stake in La-Z-Boy by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 742,381 shares of the company’s stock worth $18,232,000 after buying an additional 11,293 shares in the last quarter. Finally, Aperio Group LLC boosted its stake in La-Z-Boy by 15.6% in the third quarter. Aperio Group LLC now owns 11,339 shares of the company’s stock worth $278,000 after buying an additional 1,534 shares in the last quarter. 87.94% of the stock is currently owned by institutional investors and hedge funds.
La-Z-Boy Incorporated (NYSE:LZB) traded down 0.18% during mid-day trading on Friday, hitting $28.10. 98,988 shares of the stock were exchanged. La-Z-Boy Incorporated has a 12-month low of $22.09 and a 12-month high of $32.90. The firm has a market cap of $1.37 billion, a P/E ratio of 17.55 and a beta of 0.89. The company has a 50 day moving average of $28.05 and a 200 day moving average of $27.44.
La-Z-Boy (NYSE:LZB) last posted its earnings results on Tuesday, February 21st. The company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. La-Z-Boy had a net margin of 5.22% and a return on equity of 14.79%. The company had revenue of $390 million for the quarter, compared to analysts’ expectations of $392.84 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. La-Z-Boy’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities analysts anticipate that La-Z-Boy Incorporated will post $1.65 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Monday, March 6th were given a $0.11 dividend. The ex-dividend date of this dividend was Thursday, March 2nd. This represents a $0.44 dividend on an annualized basis and a yield of 1.56%. La-Z-Boy’s payout ratio is currently 27.85%.
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A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of La-Z-Boy from a “sell” rating to a “hold” rating in a report on Wednesday. Stifel Nicolaus cut shares of La-Z-Boy from a “buy” rating to a “hold” rating and lowered their price target for the company from $33.00 to $30.00 in a report on Wednesday, February 22nd. Finally, Raymond James Financial, Inc. restated a “market perform” rating on shares of La-Z-Boy in a report on Thursday, January 5th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $29.67.
In other La-Z-Boy news, Director Janet Kerr sold 2,350 shares of the company’s stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $32.38, for a total value of $76,093.00. Following the transaction, the director now owns 350 shares of the company’s stock, valued at $11,333. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP John Douglas Collier sold 12,000 shares of the company’s stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $32.53, for a total transaction of $390,360.00. Following the completion of the transaction, the senior vice president now directly owns 81,065 shares in the company, valued at approximately $2,637,044.45. The disclosure for this sale can be found here. Corporate insiders own 3.57% of the company’s stock.
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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