Terrence James Linz Sells 2,500 Shares of La-Z-Boy (NYSE:LZB) Stock

La-Z-Boy Incorporated (NYSE:LZB) insider Terrence James Linz sold 2,500 shares of La-Z-Boy stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $40.23, for a total transaction of $100,575.00. Following the completion of the sale, the insider owned 64,383 shares of the company’s stock, valued at $2,590,128.09. This trade represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

La-Z-Boy Stock Up 0.1%

Shares of LZB opened at $39.80 on Friday. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 1.21 and a beta of 1.25. The company’s fifty day moving average is $37.16 and its 200-day moving average is $36.47. La-Z-Boy Incorporated has a 12 month low of $29.03 and a 12 month high of $44.90.

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

La-Z-Boy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd were paid a dividend of $0.242 per share. This represents a $0.97 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, June 2nd. La-Z-Boy’s dividend payout ratio is 39.27%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in La-Z-Boy by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 4,814,114 shares of the company’s stock valued at $179,422,000 after purchasing an additional 38,513 shares during the period. Dimensional Fund Advisors LP grew its position in La-Z-Boy by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,694,255 shares of the company’s stock worth $86,594,000 after buying an additional 38,870 shares in the last quarter. Franklin Resources Inc. increased its stake in La-Z-Boy by 24.0% during the fourth quarter. Franklin Resources Inc. now owns 1,851,873 shares of the company’s stock valued at $69,019,000 after acquiring an additional 358,945 shares during the period. LSV Asset Management raised its holdings in La-Z-Boy by 0.8% in the 4th quarter. LSV Asset Management now owns 1,476,882 shares of the company’s stock valued at $55,043,000 after acquiring an additional 11,983 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in La-Z-Boy by 7.2% in the 3rd quarter. American Century Companies Inc. now owns 1,434,642 shares of the company’s stock valued at $49,237,000 after acquiring an additional 95,737 shares in the last quarter. 99.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LZB. Wall Street Zen lowered La-Z-Boy from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Weiss Ratings raised shares of La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.