Landscape Capital Management L.L.C. Purchases New Stake in La-Z-Boy Incorporated $LZB

Landscape Capital Management L.L.C. purchased a new stake in shares of La-Z-Boy Incorporated (NYSE:LZB) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 37,264 shares of the company’s stock, valued at approximately $1,495,000. Landscape Capital Management L.L.C. owned approximately 0.09% of La-Z-Boy at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of LZB. Royal Bank of Canada lifted its stake in shares of La-Z-Boy by 11.1% in the first quarter. Royal Bank of Canada now owns 16,056 shares of the company’s stock valued at $628,000 after buying an additional 1,598 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of La-Z-Boy by 3.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,836 shares of the company’s stock worth $971,000 after acquiring an additional 769 shares in the last quarter. Norges Bank bought a new stake in shares of La-Z-Boy during the second quarter worth about $404,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of La-Z-Boy in the 2nd quarter worth about $736,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of La-Z-Boy by 290.0% in the 2nd 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 last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.

Insider Transactions at La-Z-Boy

In related news, SVP Michael Adam Leggett sold 9,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $41.66, for a total transaction of $374,940.00. Following the completion of the sale, the senior vice president directly owned 47,551 shares of the company’s stock, valued at approximately $1,980,974.66. This trade represents a 15.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Melinda D. Whittington sold 26,639 shares of La-Z-Boy stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $40.24, for a total value of $1,071,953.36. Following the sale, the chief executive officer owned 316,038 shares in the company, valued at $12,717,369.12. This trade represents a 7.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 66,299 shares of company stock worth $2,677,491. 3.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

La-Z-Boy News Summary

Here are the key news stories impacting La-Z-Boy this week:

• Positive Sentiment: La-Z-Boy’s retail business showed momentum, with retail-segment sales reportedly rising 16% and the company returning $35 million to shareholders. La-Z-Boy Shatters Records: 16% Retail Segment Sales Growth and $35 Million Shareholder Returns
• Positive Sentiment: Management expects second-quarter sales of $500 million to $520 million while investing in supply-chain capacity and retail expansion, signaling confidence in longer-term growth. La-Z-Boy expects Q2 sales of $500M-$520M while investing in supply chain and retail expansion
• Neutral Sentiment: Recent coverage indicates that strong retail performance was offset by weaker wholesale results, highlighting uneven demand across La-Z-Boy’s distribution channels. La-Z-Boy’s retail momentum offset by wholesale numbers in Q1
• Negative Sentiment: Sidoti lowered its FY2027 EPS forecast to $2.55 from $2.66, cut Q2 2027 estimates to $0.48 from $0.73, and reduced Q3 and Q4 estimates to $0.59 and $1.04, respectively. Its Q2 2028 forecast fell to $0.58 from $0.87.
• Negative Sentiment: Sidoti also reduced FY2028 EPS expectations to $3.00 from $3.32. The repeated estimate cuts imply analysts see softer profitability ahead, which is likely weighing on LZB shares.
• Negative Sentiment: La-Z-Boy’s latest reported quarter missed expectations, with EPS of $0.43 versus $0.49 expected and revenue of $475.69 million versus $501.44 million forecast; revenue declined 3.4% year over year.

La-Z-Boy Price Performance

LZB opened at $33.82 on Friday. The company’s 50-day moving average is $39.73 and its 200 day moving average is $36.85. La-Z-Boy Incorporated has a fifty-two week low of $29.03 and a fifty-two week high of $44.90. The firm has a market capitalization of $1.35 billion, a P/E ratio of 17.17, a PEG ratio of 1.08 and a beta of 1.27.

La-Z-Boy (NYSE:LZB) last issued its quarterly earnings data on Tuesday, August 18th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). La-Z-Boy had a return on equity of 11.79% and a net margin of 3.86%.The firm had revenue of $475.69 million during the quarter, compared to the consensus estimate of $501.44 million. During the same period in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, equities research analysts expect that La-Z-Boy Incorporated will post 2.7 earnings per share for the current year.

La-Z-Boy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Thursday, September 3rd will be paid a $0.242 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Thursday, September 3rd. La-Z-Boy’s payout ratio is presently 49.24%.

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.