Cwm LLC lessened its holdings in La-Z-Boy Incorporated (NYSE:LZB – Free Report) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,960 shares of the company’s stock after selling 3,685 shares during the quarter. Cwm LLC owned approximately 0.08% of La-Z-Boy worth $1,328,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. LSV Asset Management boosted its holdings in La-Z-Boy by 0.4% in the third quarter. LSV Asset Management now owns 1,893,993 shares of the company’s stock worth $58,487,000 after purchasing an additional 7,300 shares during the period. Pacer Advisors Inc. boosted its holdings in La-Z-Boy by 21.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,106,430 shares of the company’s stock worth $40,849,000 after purchasing an additional 192,546 shares during the period. Brown Advisory Inc. boosted its holdings in shares of La-Z-Boy by 2.7% during the third 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. Charles Schwab Investment Management Inc. grew its position in shares of La-Z-Boy by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 763,900 shares of the company’s stock worth $23,589,000 after acquiring an additional 20,309 shares during the last quarter. Finally, Schroder Investment Management Group bought a new position in shares of La-Z-Boy during the third quarter worth about $21,100,000. Institutional investors and hedge funds own 99.62% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, StockNews.com lowered shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th.
La-Z-Boy Stock Performance
La-Z-Boy stock opened at $33.09 on Friday. The company has a 50-day simple moving average of $36.01 and a 200-day simple moving average of $34.58. The firm has a market capitalization of $1.41 billion, a P/E ratio of 12.21 and a beta of 1.16. La-Z-Boy Incorporated has a one year low of $25.12 and a one year high of $39.87.
La-Z-Boy (NYSE:LZB – Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.08). The firm had revenue of $500.40 million for the quarter, compared to the consensus estimate of $523.09 million. La-Z-Boy had a return on equity of 13.55% and a net margin of 5.73%. The firm’s revenue was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 EPS. As a group, sell-side analysts forecast that La-Z-Boy Incorporated will post 2.72 earnings per share for the current year.
La-Z-Boy Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a $0.20 dividend. The ex-dividend date was Monday, March 4th. This represents a $0.80 dividend on an annualized basis and a yield of 2.42%. La-Z-Boy’s dividend payout ratio is presently 29.52%.
Insider Activity at La-Z-Boy
In related news, SVP Michael Adam Leggett sold 3,077 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $37.08, for a total value of $114,095.16. Following the completion of the transaction, the senior vice president now owns 21,519 shares in the company, valued at approximately $797,924.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is currently owned by insiders.
About La-Z-Boy
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.
Recommended Stories
- Five stocks we like better than La-Z-Boy
- How to buy stock: A step-by-step guide for beginners
- 3 Stocks Leading the U.S. Agriculture Comeback
- What is a Special Dividend?
- How to Use Put Debit Spreads to Profit From Falling Stocks
- What Investors Need to Know to Beat the Market
- Alphabet Changes the Narrative with Its First-Ever Dividend
Want to see what other hedge funds are holding LZB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for La-Z-Boy Incorporated (NYSE:LZB – Free Report).
Receive News & Ratings for La-Z-Boy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La-Z-Boy and related companies with MarketBeat.com's FREE daily email newsletter.
