La-Z-Boy (NYSE:LZB) Insider Sells 5,000 Shares

La-Z-Boy Incorporated (NYSE:LZB) insider Robert Sundy II sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $30.85, for a total transaction of $154,250.00. Following the completion of the transaction, the insider directly owned 59,297 shares in the company, valued at approximately $1,829,312.45. This represents a 7.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

La-Z-Boy Price Performance

LZB traded up $0.38 on Monday, reaching $31.02. 561,517 shares of the company’s stock were exchanged, compared to its average volume of 506,772. The stock has a market cap of $1.24 billion, a PE ratio of 15.74, a P/E/G ratio of 1.10 and a beta of 1.23. La-Z-Boy Incorporated has a twelve month low of $29.03 and a twelve month high of $44.90. The stock’s fifty day moving average price is $37.38 and its 200-day moving average price is $36.25.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings data on Tuesday, August 18th. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). La-Z-Boy had a net margin of 3.86% and a return on equity of 11.79%. The business had revenue of $475.69 million during the quarter, compared to analyst estimates of $501.44 million. During the same quarter in the previous year, the company posted $0.47 EPS. The firm’s revenue was down 3.4% on a year-over-year basis. As a group, research analysts predict that La-Z-Boy Incorporated will post 2.53 earnings per share for the current fiscal year.

La-Z-Boy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Thursday, September 3rd will be given a $0.242 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.1%. La-Z-Boy’s dividend payout ratio is 49.24%.

Institutional Trading of La-Z-Boy

Hedge funds and other institutional investors have recently made changes to their positions in the company. WINTON GROUP Ltd acquired a new position in La-Z-Boy in the second quarter valued at approximately $3,896,000. Integrated Wealth Concepts LLC purchased a new position in La-Z-Boy in the second quarter worth approximately $119,000. Squarepoint Ops LLC acquired a new stake in La-Z-Boy during the second quarter worth $2,052,000. Allworth Financial LP increased its stake in La-Z-Boy by 47.4% during the second quarter. Allworth Financial LP now owns 2,803 shares of the company’s stock worth $112,000 after acquiring an additional 902 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in La-Z-Boy in the second quarter valued at $534,000. Institutional investors and hedge funds own 99.62% of the company’s stock.

Analyst Ratings Changes

LZB has been the topic of a number of analyst reports. KeyCorp reduced their price objective on La-Z-Boy from $46.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, August 20th. Wall Street Zen downgraded La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research lowered La-Z-Boy from a “hold” rating to a “strong sell” rating in a report on Thursday, August 20th. Finally, Weiss Ratings cut shares of La-Z-Boy from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, August 20th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $39.50.

La-Z-Boy Company Profile

La-Z-Boy Incorporated is a residential furniture manufacturer and retailer best known for its upholstered recliners. The company offers a broad range of furniture for living rooms, family rooms, bedrooms and other areas of the home, including recliners, sofas, sectionals, chairs, ottomans, tables, beds and complementary home furnishings.

Founded in 1927 in Monroe, Michigan, La-Z-Boy built its reputation around its reclining chair and has expanded into a full-service home furnishings company.