LSV Asset Management Sells 54,062 Shares of La-Z-Boy Incorporated (NYSE:LZB)

LSV Asset Management decreased its stake in La-Z-Boy Incorporated (NYSE:LZB) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,839,931 shares of the company’s stock after selling 54,062 shares during the period. LSV Asset Management owned 4.30% of La-Z-Boy worth $67,930,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of La-Z-Boy in the third quarter valued at $153,000. Brown Advisory Inc. grew its position in shares of La-Z-Boy by 2.7% in the 3rd quarter. Brown Advisory Inc. now owns 1,018,079 shares of the company’s stock valued at $31,438,000 after acquiring an additional 26,663 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of La-Z-Boy by 33.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,367 shares of the company’s stock worth $289,000 after purchasing an additional 2,345 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of La-Z-Boy in the 3rd quarter valued at about $305,000. Finally, TD Asset Management Inc acquired a new stake in La-Z-Boy in the 3rd quarter valued at about $204,000. Institutional investors and hedge funds own 99.62% of the company’s stock.

Insider Activity

In related news, SVP Michael Adam Leggett sold 3,077 shares of La-Z-Boy stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $37.08, for a total transaction of $114,095.16. Following the completion of the sale, the senior vice president now directly owns 21,519 shares of the company’s stock, valued at approximately $797,924.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.70% of the stock is owned by company insiders.

La-Z-Boy Stock Performance

LZB traded up $0.23 during trading hours on Friday, reaching $33.21. The company’s stock had a trading volume of 311,716 shares, compared to its average volume of 325,412. The company’s 50-day moving average is $35.53 and its 200-day moving average is $34.76. La-Z-Boy Incorporated has a 52 week low of $25.12 and a 52 week high of $39.87. The firm has a market cap of $1.42 billion, a PE ratio of 12.25 and a beta of 1.19.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.08). The company had revenue of $500.40 million during the quarter, compared to analyst estimates of $523.09 million. La-Z-Boy had a net margin of 5.73% and a return on equity of 13.55%. La-Z-Boy’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share. Equities analysts anticipate that La-Z-Boy Incorporated will post 2.72 earnings per share for the current fiscal year.

La-Z-Boy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Friday, May 31st. La-Z-Boy’s dividend payout ratio is presently 29.52%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th.

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 Wholesale, Retail, Corporate and Other segments. The Wholesale segment manufactures, and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas; and imports, distributes, and retails casegoods (wood) furniture, including occasional pieces, bedroom sets, dining room sets, entertainment centers, and occasional pieces.