Silvercrest Asset Management Group LLC Sells 83,539 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Silvercrest Asset Management Group LLC decreased its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 5.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,509,423 shares of the company’s stock after selling 83,539 shares during the period. Silvercrest Asset Management Group LLC’s holdings in La-Z-Boy were worth $65,766,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Barclays PLC grew its stake in shares of La-Z-Boy by 244.6% in the 3rd quarter. Barclays PLC now owns 75,256 shares of the company’s stock worth $3,230,000 after buying an additional 53,419 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of La-Z-Boy by 5.7% in the third quarter. Franklin Resources Inc. now owns 26,820 shares of the company’s stock worth $1,074,000 after acquiring an additional 1,454 shares during the last quarter. KBC Group NV increased its holdings in shares of La-Z-Boy by 8.3% during the fourth quarter. KBC Group NV now owns 9,593 shares of the company’s stock valued at $418,000 after acquiring an additional 734 shares in the last quarter. abrdn plc raised its position in shares of La-Z-Boy by 38.1% in the 4th quarter. abrdn plc now owns 347,589 shares of the company’s stock worth $15,148,000 after purchasing an additional 95,812 shares during the last quarter. Finally, Verity Asset Management Inc. purchased a new position in shares of La-Z-Boy in the 4th quarter worth about $275,000. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, KeyCorp raised shares of La-Z-Boy from a “sector weight” rating to an “overweight” rating and set a $46.00 price objective on the stock in a research report on Friday, April 25th.

La-Z-Boy Stock Up 1.9%

Shares of NYSE LZB opened at $44.06 on Friday. The firm has a market cap of $1.82 billion, a P/E ratio of 15.14 and a beta of 1.33. La-Z-Boy Incorporated has a twelve month low of $33.34 and a twelve month high of $48.31. The company has a 50 day moving average of $39.38 and a 200 day moving average of $42.40.

La-Z-Boy (NYSE:LZB) last posted its earnings results on Tuesday, February 18th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $521.78 million during the quarter, compared to analyst estimates of $516.47 million. La-Z-Boy had a return on equity of 12.38% and a net margin of 5.92%. As a group, equities analysts expect that La-Z-Boy Incorporated will post 2.99 earnings per share for the current fiscal year.

La-Z-Boy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.00%. The ex-dividend date is Tuesday, June 3rd. La-Z-Boy’s dividend payout ratio is currently 30.24%.

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.