MetLife Investment Advisors LLC Takes $676,000 Position in La-Z-Boy (LZB)
MetLife Investment Advisors LLC bought a new position in shares of La-Z-Boy (NYSE:LZB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 21,678 shares of the company’s stock, valued at approximately $676,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in LZB. Royce & Associates LP increased its stake in shares of La-Z-Boy by 739.0% during the fourth quarter. Royce & Associates LP now owns 836,248 shares of the company’s stock worth $26,091,000 after purchasing an additional 736,578 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in La-Z-Boy during the 4th quarter worth $6,796,000. BlackRock Inc. increased its stake in La-Z-Boy by 2.5% during the 4th quarter. BlackRock Inc. now owns 6,075,719 shares of the company’s stock worth $189,563,000 after acquiring an additional 148,474 shares during the period. Boston Partners increased its stake in La-Z-Boy by 11.1% during the 4th quarter. Boston Partners now owns 1,176,610 shares of the company’s stock worth $36,710,000 after acquiring an additional 117,104 shares during the period. Finally, Brandywine Global Investment Management LLC bought a new position in La-Z-Boy during the 4th quarter worth $2,912,000. Institutional investors own 88.56% of the company’s stock.
A number of equities analysts have commented on the company. ValuEngine lowered La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Monday, April 9th. Zacks Investment Research lowered La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $33.50.
La-Z-Boy stock opened at $29.95 on Tuesday. La-Z-Boy has a one year low of $23.15 and a one year high of $34.25. The firm has a market cap of $1,374.39, a price-to-earnings ratio of 17.31 and a beta of 0.85.
La-Z-Boy (NYSE:LZB) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.21). La-Z-Boy had a return on equity of 13.96% and a net margin of 4.74%. The company had revenue of $413.64 million for the quarter, compared to the consensus estimate of $402.67 million. During the same quarter last year, the business earned $0.47 EPS. La-Z-Boy’s revenue was up 6.1% on a year-over-year basis. equities analysts forecast that La-Z-Boy will post 1.85 earnings per share for the current year.
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La-Z-Boy Company 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 Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.
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