Phocas Financial Corp. Cuts Stake in La-Z-Boy Incorporated (NYSE:LZB)

Phocas Financial Corp. cut its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 85.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,876 shares of the company’s stock after selling 96,079 shares during the period. Phocas Financial Corp.’s holdings in La-Z-Boy were worth $735,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. bought a new position in shares of La-Z-Boy during the third quarter worth $30,000. TD Private Client Wealth LLC purchased a new stake in La-Z-Boy in the 3rd quarter worth $43,000. Venturi Wealth Management LLC bought a new position in shares of La-Z-Boy during the 4th quarter valued at about $51,000. Advisors Asset Management Inc. grew its position in shares of La-Z-Boy by 176.5% during the third quarter. Advisors Asset Management Inc. now owns 3,973 shares of the company’s stock valued at $171,000 after purchasing an additional 2,536 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in shares of La-Z-Boy in the third quarter worth about $245,000. 99.62% of the stock is currently owned by institutional investors.

La-Z-Boy Price Performance

NYSE:LZB opened at $45.93 on Wednesday. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 15.78 and a beta of 1.35. La-Z-Boy Incorporated has a 1 year low of $32.00 and a 1 year high of $48.31. The stock’s 50 day simple moving average is $44.77 and its two-hundred day simple moving average is $42.87.

La-Z-Boy (NYSE:LZB) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. The company had revenue of $521.78 million for the quarter, compared to analysts’ expectations of $516.47 million. La-Z-Boy had a return on equity of 12.38% and a net margin of 5.92%. As a group, analysts anticipate that La-Z-Boy Incorporated will post 2.99 EPS for the current year.

La-Z-Boy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.88 dividend on an annualized basis and a yield of 1.92%. La-Z-Boy’s payout ratio is 30.24%.

La-Z-Boy Company Profile

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.