Rhumbline Advisers boosted its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 19.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,582 shares of the company’s stock after acquiring an additional 19,585 shares during the period. Rhumbline Advisers owned 0.25% of La-Z-Boy worth $3,244,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Arizona State Retirement System lifted its position in La-Z-Boy by 0.4% during the 2nd quarter. Arizona State Retirement System now owns 25,485 shares of the company’s stock valued at $828,000 after acquiring an additional 100 shares during the period. Suntrust Banks Inc. raised its holdings in La-Z-Boy by 2.2% in the second quarter. Suntrust Banks Inc. now owns 8,419 shares of the company’s stock worth $273,000 after buying an additional 185 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its holdings in La-Z-Boy by 0.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 37,123 shares of the company’s stock worth $1,206,000 after buying an additional 200 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in La-Z-Boy by 7.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,240 shares of the company’s stock worth $138,000 after buying an additional 290 shares during the last quarter. Finally, Texas Permanent School Fund raised its holdings in La-Z-Boy by 0.8% in the second quarter. Texas Permanent School Fund now owns 35,642 shares of the company’s stock worth $1,158,000 after buying an additional 297 shares during the last quarter. 84.25% of the stock is owned by institutional investors.
Several research analysts have issued reports on the stock. ValuEngine raised shares of La-Z-Boy from a “hold” rating to a “buy” rating in a report on Thursday, November 30th. Stifel Nicolaus reissued a “hold” rating on shares of La-Z-Boy in a report on Friday, December 1st. Zacks Investment Research raised shares of La-Z-Boy from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 25th. KeyCorp reissued a “buy” rating and set a $36.00 price objective on shares of La-Z-Boy in a report on Friday, November 10th. Finally, BidaskClub cut shares of La-Z-Boy from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $33.00.
La-Z-Boy Incorporated (NYSE LZB) opened at $31.60 on Friday. The firm has a market cap of $1,514.16, a P/E ratio of 18.29 and a beta of 1.03. La-Z-Boy Incorporated has a twelve month low of $23.15 and a twelve month high of $34.25.
La-Z-Boy (NYSE:LZB) last announced its earnings results on Wednesday, November 29th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.45 by $0.02. The business had revenue of $393.20 million for the quarter, compared to the consensus estimate of $390.03 million. La-Z-Boy had a return on equity of 14.33% and a net margin of 5.53%. The company’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS. analysts anticipate that La-Z-Boy Incorporated will post 1.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Monday, December 11th will be given a $0.12 dividend. This is a positive change from La-Z-Boy’s previous quarterly dividend of $0.11. The ex-dividend date is Friday, December 8th. This represents a $0.48 annualized dividend and a dividend yield of 1.52%. La-Z-Boy’s dividend payout ratio (DPR) is presently 25.14%.
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La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstery furniture products. The Company also imports, distributes and retails accessories and casegoods (wood) furniture products. The Company’s segments include the Upholstery segment, the Casegoods segment and the Retail segment.
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