La-Z-Boy Incorporated $LZB Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its position in La-Z-Boy Incorporated (NYSE:LZB) by 69.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,124 shares of the company’s stock after acquiring an additional 47,626 shares during the period. Sei Investments Co.’s holdings in La-Z-Boy were worth $3,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

La-Z-Boy Stock Down 2.0%

NYSE:LZB opened at $40.63 on Friday. La-Z-Boy Incorporated has a 52 week low of $29.03 and a 52 week high of $44.90. The stock has a market capitalization of $1.63 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 1.27 and a beta of 1.27. The stock’s 50-day moving average price is $39.24 and its 200-day moving average price is $36.73.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings results on Tuesday, June 16th. The company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.44. The company had revenue of $570.34 million during 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%.La-Z-Boy’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. Sell-side analysts expect that La-Z-Boy Incorporated will post 2.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LZB has been the topic of several recent research reports. Weiss Ratings upgraded La-Z-Boy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. Wall Street Zen raised shares of La-Z-Boy from a “hold” rating to a “buy” rating in a report on Sunday, July 5th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Insider Buying and Selling

In other news, VP Raphaell Z. Richmond sold 13,671 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $39.83, for a total value of $544,515.93. Following the completion of the sale, the vice president directly owned 51,695 shares in the company, valued at $2,059,011.85. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Terrence James Linz sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $40.23, for a total value of $100,575.00. Following the transaction, the insider directly owned 64,383 shares of the company’s stock, valued at approximately $2,590,128.09. The trade was a 3.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 66,299 shares of company stock valued at $2,677,491 in the last 90 days. Corporate insiders own 3.12% of the company’s stock.

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.