MetLife Investment Management LLC Grows Position in La-Z-Boy Incorporated (NYSE:LZB)

MetLife Investment Management LLC raised its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 5.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 25,856 shares of the company’s stock after purchasing an additional 1,231 shares during the period. MetLife Investment Management LLC owned 0.06% of La-Z-Boy worth $1,127,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in La-Z-Boy by 244.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 658 shares of the company’s stock valued at $29,000 after buying an additional 467 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of La-Z-Boy in the 4th quarter valued at $51,000. Bank of Montreal Can purchased a new stake in shares of La-Z-Boy during the 4th quarter worth $203,000. O Shaughnessy Asset Management LLC boosted its position in La-Z-Boy by 7.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,282 shares of the company’s stock valued at $274,000 after purchasing an additional 457 shares in the last quarter. Finally, Verity Asset Management Inc. purchased a new position in La-Z-Boy in the fourth quarter valued at about $275,000. Institutional investors own 99.62% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, KeyCorp raised shares of La-Z-Boy from a “sector weight” rating to an “overweight” rating and set a $46.00 price target for the company in a research report on Friday, April 25th.

La-Z-Boy Price Performance

La-Z-Boy stock opened at $39.97 on Friday. La-Z-Boy Incorporated has a 1-year low of $32.52 and a 1-year high of $48.31. The business has a fifty day moving average price of $39.60 and a 200-day moving average price of $42.25. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 13.74 and a beta of 1.31.

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

La-Z-Boy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Tuesday, June 3rd will be issued a $0.22 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.20%. La-Z-Boy’s dividend payout ratio is currently 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.