Royce & Associates LP lifted its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 739.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 836,248 shares of the company’s stock after acquiring an additional 736,578 shares during the quarter. Royce & Associates LP’s holdings in La-Z-Boy were worth $26,091,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Ameritas Investment Partners Inc. increased its stake in shares of La-Z-Boy by 7.3% during the second quarter. Ameritas Investment Partners Inc. now owns 4,240 shares of the company’s stock worth $138,000 after acquiring an additional 290 shares during the period. American International Group Inc. increased its stake in shares of La-Z-Boy by 5.5% during the third quarter. American International Group Inc. now owns 38,244 shares of the company’s stock worth $1,029,000 after acquiring an additional 2,006 shares during the period. Vident Investment Advisory LLC grew its position in La-Z-Boy by 3.7% during the third quarter. Vident Investment Advisory LLC now owns 80,614 shares of the company’s stock worth $2,169,000 after buying an additional 2,892 shares during the period. Bridge City Capital LLC grew its position in La-Z-Boy by 8.7% during the third quarter. Bridge City Capital LLC now owns 43,433 shares of the company’s stock worth $1,168,000 after buying an additional 3,471 shares during the period. Finally, SG Americas Securities LLC grew its position in La-Z-Boy by 31.1% during the third quarter. SG Americas Securities LLC now owns 16,117 shares of the company’s stock worth $434,000 after buying an additional 3,827 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.
In other La-Z-Boy news, insider John Douglas Collier sold 4,000 shares of the company’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $31.71, for a total value of $126,840.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Otis S. Sawyer sold 12,000 shares of the company’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $31.51, for a total transaction of $378,120.00. Following the completion of the sale, the senior vice president now directly owns 60,238 shares in the company, valued at approximately $1,898,099.38. The disclosure for this sale can be found here. Corporate insiders own 3.17% of the company’s stock.
Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Wednesday, January 31st. ValuEngine upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Thursday, November 30th. Stifel Nicolaus restated a “hold” rating on shares of La-Z-Boy in a research report on Friday, December 1st. Finally, KeyCorp restated a “buy” rating and set a $36.00 target price on shares of La-Z-Boy in a research report on Friday, November 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $33.50.
La-Z-Boy Incorporated (LZB) opened at $29.10 on Tuesday. La-Z-Boy Incorporated has a 1 year low of $23.15 and a 1 year high of $34.25. The firm has a market cap of $1,376.94, a PE ratio of 16.63 and a beta of 0.89.
La-Z-Boy (NYSE:LZB) last issued its earnings results on Wednesday, November 29th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.02. La-Z-Boy had a net margin of 5.53% and a return on equity of 14.33%. The company had revenue of $393.20 million for the quarter, compared to analyst estimates of $390.03 million. During the same period in the prior year, the business posted $0.42 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. research analysts forecast that La-Z-Boy Incorporated will post 1.79 EPS for the current fiscal year.
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La-Z-Boy Company Profile
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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