Insider Selling: La-Z-Boy (NYSE:LZB) CAO Sells $138,446.00 in Stock

La-Z-Boy Incorporated (NYSE:LZB) CAO Jennifer Lynn Mccurry sold 3,410 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $40.60, for a total transaction of $138,446.00. Following the completion of the transaction, the chief accounting officer owned 15,453 shares in the company, valued at approximately $627,391.80. This represents a 18.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

La-Z-Boy Trading Up 0.3%

La-Z-Boy stock traded up $0.13 during trading on Tuesday, hitting $40.12. The company had a trading volume of 778,369 shares, compared to its average volume of 456,111. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 1.21 and a beta of 1.26. La-Z-Boy Incorporated has a 1-year low of $29.03 and a 1-year high of $44.90. The company’s 50 day simple moving average is $36.25 and its 200-day simple moving average is $36.40.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings results on Tuesday, June 16th. The company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.44. The company had revenue of $570.34 million for the quarter, compared to analysts’ expectations of $569.23 million. La-Z-Boy had a return on equity of 11.97% and a net margin of 4.80%.The firm’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. As a group, analysts forecast that La-Z-Boy Incorporated will post 2.98 earnings per share for the current fiscal year.

La-Z-Boy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, June 2nd were issued a dividend of $0.242 per share. This represents a $0.97 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Tuesday, June 2nd. La-Z-Boy’s dividend payout ratio (DPR) is 39.27%.

Institutional Investors Weigh In On La-Z-Boy

A number of hedge funds have recently bought and sold shares of LZB. Quarry LP boosted its stake in shares of La-Z-Boy by 4,785.7% in the 4th quarter. Quarry LP now owns 684 shares of the company’s stock valued at $25,000 after buying an additional 670 shares during the period. EverSource Wealth Advisors LLC raised its holdings in La-Z-Boy by 290.0% in the second quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock valued at $33,000 after acquiring an additional 670 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in La-Z-Boy by 99.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock valued at $42,000 after acquiring an additional 567 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in La-Z-Boy by 159.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company’s stock worth $43,000 after acquiring an additional 713 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in La-Z-Boy by 3,130.8% in the third quarter. CIBC Private Wealth Group LLC now owns 1,260 shares of the company’s stock worth $43,000 after acquiring an additional 1,221 shares during the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.

Wall Street Analyst Weigh In

LZB has been the subject of several recent research reports. Wall Street Zen raised shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. Weiss Ratings raised shares of La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, La-Z-Boy currently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

La-Z-Boy Company Profile

La-Z-Boy Incorporated (NYSE: LZB) is a leading U.S. manufacturer and marketer of residential furniture, best known for its upholstered recliners, sofas, stationary chairs and sleeper sofas. The company offers a broad range of products in both fabric and leather, complemented by occasional tables, desks, lamps and other home furnishings through its branded retail network.

Founded in 1927 by cousins Edward Knabusch and Edwin Shoemaker in Monroe, Michigan, La-Z-Boy pioneered the modern reclining chair.