La-Z-Boy Incorporated (LZB) Shares Bought by LSV Asset Management
LSV Asset Management boosted its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 5.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 670,556 shares of the company’s stock after buying an additional 32,200 shares during the period. LSV Asset Management owned 1.44% of La-Z-Boy worth $21,189,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. BlackRock Inc. raised its holdings in shares of La-Z-Boy by 9.6% in the 2nd quarter. BlackRock Inc. now owns 6,602,851 shares of the company’s stock worth $202,048,000 after purchasing an additional 579,379 shares during the period. Northern Trust Corp raised its holdings in shares of La-Z-Boy by 4.5% in the 2nd quarter. Northern Trust Corp now owns 1,272,785 shares of the company’s stock worth $38,948,000 after purchasing an additional 55,269 shares during the period. Royce & Associates LP raised its holdings in shares of La-Z-Boy by 12.2% in the 2nd quarter. Royce & Associates LP now owns 1,042,460 shares of the company’s stock worth $31,899,000 after purchasing an additional 113,502 shares during the period. Botty Investors LLC raised its holdings in shares of La-Z-Boy by 11.4% in the 3rd quarter. Botty Investors LLC now owns 604,435 shares of the company’s stock worth $19,100,000 after purchasing an additional 61,709 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of La-Z-Boy by 10.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 471,289 shares of the company’s stock worth $14,422,000 after purchasing an additional 45,664 shares during the period. 89.65% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on LZB shares. ValuEngine upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a report on Thursday, August 23rd. Stifel Nicolaus raised their price objective on La-Z-Boy from $33.00 to $35.00 and gave the stock a “hold” rating in a report on Thursday, August 23rd. Finally, Zacks Investment Research upgraded La-Z-Boy from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd.
La-Z-Boy (NYSE:LZB) last released its quarterly earnings data on Tuesday, August 21st. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.14. The company had revenue of $384.70 million for the quarter, compared to the consensus estimate of $368.17 million. La-Z-Boy had a return on equity of 15.33% and a net margin of 5.43%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $0.24 EPS. As a group, equities research analysts anticipate that La-Z-Boy Incorporated will post 1.98 earnings per share for the current year.
In related news, insider Otis S. Sawyer sold 88,806 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $34.62, for a total transaction of $3,074,463.72. Following the sale, the insider now directly owns 71,324 shares in the company, valued at approximately $2,469,236.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Kurt L. Darrow sold 45,720 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $34.66, for a total value of $1,584,655.20. Following the sale, the chairman now owns 549,302 shares in the company, valued at $19,038,807.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 217,635 shares of company stock worth $7,417,668. Company insiders own 4.55% of the company’s stock.
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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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