La-Z-Boy Incorporated $LZB Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA lessened its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 8.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 246,956 shares of the company’s stock after selling 23,654 shares during the quarter. Glenmede Trust Co. NA’s holdings in La-Z-Boy were worth $7,937,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Franklin Resources Inc. grew its position in shares of La-Z-Boy by 208.8% in the third quarter. Franklin Resources Inc. now owns 1,492,928 shares of the company’s stock valued at $51,237,000 after purchasing an additional 1,009,428 shares during the period. M&T Bank Corp purchased a new position in La-Z-Boy during the fourth quarter worth about $18,433,000. Goldman Sachs Group Inc. lifted its position in La-Z-Boy by 100.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 627,638 shares of the company’s stock worth $23,392,000 after buying an additional 313,932 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in La-Z-Boy by 46.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 895,003 shares of the company’s stock worth $33,357,000 after buying an additional 283,364 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in La-Z-Boy by 64.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 391,470 shares of the company’s stock worth $14,551,000 after buying an additional 153,498 shares during the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.

Insider Activity

In other news, SVP Michael Adam Leggett sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $41.66, for a total value of $374,940.00. Following the transaction, the senior vice president directly owned 47,551 shares in the company, valued at $1,980,974.66. This trade represents a 15.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jennifer Lynn Mccurry sold 3,715 shares of La-Z-Boy stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $41.05, for a total value of $152,500.75. Following the completion of the transaction, the chief accounting officer directly owned 16,763 shares in the company, valued at $688,121.15. This represents a 18.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 66,299 shares of company stock valued at $2,677,491 in the last 90 days. 3.12% of the stock is owned by corporate insiders.

La-Z-Boy Stock Up 4.1%

Shares of NYSE LZB opened at $41.01 on Tuesday. The stock has a market capitalization of $1.64 billion, a PE ratio of 16.60, a P/E/G ratio of 1.20 and a beta of 1.25. The firm has a fifty day moving average of $39.03 and a 200-day moving average of $36.68. La-Z-Boy Incorporated has a 52-week low of $29.03 and a 52-week high of $44.90.

La-Z-Boy (NYSE:LZB) last issued its earnings results on Tuesday, June 16th. The company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.44. The business had revenue of $570.34 million for the quarter, compared to analyst estimates of $569.23 million. La-Z-Boy had a return on equity of 11.97% and a net margin of 4.80%.The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS. Equities research analysts expect that La-Z-Boy Incorporated will post 2.98 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the company. Wall Street Zen upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a report on Sunday, July 5th. Weiss Ratings upgraded shares of La-Z-Boy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

About La-Z-Boy

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.