Russell Investments Group Ltd. Sells 2,322 Shares of La-Z-Boy Incorporated (LZB)
Russell Investments Group Ltd. lowered its position in La-Z-Boy Incorporated (NYSE:LZB) by 4.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,870 shares of the company’s stock after selling 2,322 shares during the quarter. Russell Investments Group Ltd.’s holdings in La-Z-Boy were worth $1,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in LZB. BlackRock Inc. boosted its holdings in La-Z-Boy by 9.6% in the second quarter. BlackRock Inc. now owns 6,602,851 shares of the company’s stock valued at $202,048,000 after acquiring an additional 579,379 shares during the last quarter. LSV Asset Management boosted its holdings in La-Z-Boy by 101.4% in the second quarter. LSV Asset Management now owns 638,356 shares of the company’s stock valued at $19,533,000 after acquiring an additional 321,456 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in La-Z-Boy by 729.1% in the second quarter. Renaissance Technologies LLC now owns 143,440 shares of the company’s stock valued at $4,389,000 after acquiring an additional 126,140 shares during the last quarter. Royce & Associates LP boosted its holdings in La-Z-Boy by 12.2% in the second quarter. Royce & Associates LP now owns 1,042,460 shares of the company’s stock valued at $31,899,000 after acquiring an additional 113,502 shares during the last quarter. Finally, Hammer Asset Management LLC bought a new stake in La-Z-Boy in the second quarter valued at approximately $2,683,000. Institutional investors and hedge funds own 90.74% of the company’s stock.
LZB has been the topic of several analyst reports. Zacks Investment Research upgraded La-Z-Boy from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. ValuEngine upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a report on Thursday, August 23rd. Finally, Stifel Nicolaus upped their target price on La-Z-Boy from $33.00 to $35.00 and gave the company a “hold” rating in a report on Thursday, August 23rd.
Shares of LZB stock opened at $27.06 on Friday. La-Z-Boy Incorporated has a one year low of $26.70 and a one year high of $39.15. The company has a market capitalization of $1.30 billion, a P/E ratio of 13.98 and a beta of 1.01.
La-Z-Boy (NYSE:LZB) last announced its earnings results on Wednesday, November 28th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.05. La-Z-Boy had a return on equity of 15.07% and a net margin of 5.11%. The business had revenue of $439.30 million for the quarter, compared to analysts’ expectations of $434.04 million. During the same period in the prior year, the business posted $0.47 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. On average, equities analysts predict that La-Z-Boy Incorporated will post 2.11 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Monday, December 10th will be issued a $0.13 dividend. The ex-dividend date is Friday, December 7th. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.92%. La-Z-Boy’s dividend payout ratio is presently 26.52%.
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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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