Public Employees Retirement Association of Colorado decreased its position in La-Z-Boy (NYSE:LZB) by 21.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,880 shares of the company’s stock after selling 2,407 shares during the period. Public Employees Retirement Association of Colorado’s holdings in La-Z-Boy were worth $266,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of LZB. Royce & Associates LP grew its position in La-Z-Boy by 739.0% in the 4th quarter. Royce & Associates LP now owns 836,248 shares of the company’s stock worth $26,091,000 after purchasing an additional 736,578 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in La-Z-Boy in the 4th quarter worth about $6,796,000. BlackRock Inc. grew its position in La-Z-Boy by 2.5% in the 4th quarter. BlackRock Inc. now owns 6,075,719 shares of the company’s stock worth $189,563,000 after purchasing an additional 148,474 shares during the last quarter. Boston Partners grew its position in La-Z-Boy by 11.1% in the 4th quarter. Boston Partners now owns 1,176,610 shares of the company’s stock worth $36,710,000 after purchasing an additional 117,104 shares during the last quarter. Finally, Brandywine Global Investment Management LLC bought a new position in La-Z-Boy in the 4th quarter worth about $2,912,000. Hedge funds and other institutional investors own 86.53% of the company’s stock.
LZB has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Wednesday, January 31st. ValuEngine upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. La-Z-Boy has an average rating of “Hold” and an average price target of $33.50.
In other news, VP Louis M. Riccio, Jr. sold 65,910 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $31.72, for a total value of $2,090,665.20. Following the completion of the transaction, the vice president now directly owns 95,342 shares in the company, valued at $3,024,248.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.17% of the company’s stock.
La-Z-Boy stock opened at $32.20 on Tuesday. The company has a market capitalization of $1.48 billion, a PE ratio of 18.21 and a beta of 0.87. La-Z-Boy has a 12-month low of $23.15 and a 12-month high of $34.25.
La-Z-Boy (NYSE:LZB) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.21). The company had revenue of $413.64 million during the quarter, compared to the consensus estimate of $402.67 million. La-Z-Boy had a net margin of 4.74% and a return on equity of 13.96%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business earned $0.47 earnings per share. analysts anticipate that La-Z-Boy will post 1.85 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Thursday, May 31st. La-Z-Boy’s dividend payout ratio (DPR) is presently 27.75%.
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 Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.
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