Intech Investment Management LLC boosted its stake in shares of La-Z-Boy Incorporated (NYSE:LZB – Free Report) by 100.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,241 shares of the company’s stock after buying an additional 64,265 shares during the quarter. Intech Investment Management LLC’s holdings in La-Z-Boy were worth $4,780,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Franklin Resources Inc. raised its position in shares of La-Z-Boy by 208.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,492,928 shares of the company’s stock worth $51,237,000 after acquiring an additional 1,009,428 shares in the last quarter. M&T Bank Corp bought a new position in shares of La-Z-Boy in the 4th quarter worth about $18,433,000. Qube Research & Technologies Ltd raised its position in shares of La-Z-Boy by 64.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 391,470 shares of the company’s stock worth $14,551,000 after acquiring an additional 153,498 shares in the last quarter. SG Americas Securities LLC raised its position in shares of La-Z-Boy by 595.1% in the 4th quarter. SG Americas Securities LLC now owns 148,226 shares of the company’s stock worth $5,524,000 after acquiring an additional 126,903 shares in the last quarter. Finally, CSM Advisors LLC bought a new position in shares of La-Z-Boy in the 3rd quarter worth about $3,958,000. 99.62% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on LZB. Wall Street Zen raised La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of La-Z-Boy in a report on Monday, May 18th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.00.
La-Z-Boy Stock Performance
Shares of LZB opened at $37.63 on Monday. The stock has a 50 day moving average price of $34.48 and a two-hundred day moving average price of $36.13. The firm has a market capitalization of $1.54 billion, a P/E ratio of 18.63 and a beta of 1.26. La-Z-Boy Incorporated has a 52 week low of $29.03 and a 52 week high of $42.44.
La-Z-Boy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd will be issued a dividend of $0.242 per share. This represents a $0.97 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, June 2nd. La-Z-Boy’s payout ratio is currently 48.02%.
About La-Z-Boy
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.
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