Renaissance Technologies LLC lifted its stake in La-Z-Boy Incorporated (NYSE:LZB – Free Report) by 177.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 223,600 shares of the company’s stock after acquiring an additional 142,900 shares during the quarter. Renaissance Technologies LLC owned approximately 0.55% of La-Z-Boy worth $7,187,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of LZB. Vanguard Group Inc. boosted its position in La-Z-Boy by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 4,814,114 shares of the company’s stock valued at $179,422,000 after purchasing an additional 38,513 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of La-Z-Boy by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,694,255 shares of the company’s stock worth $86,594,000 after purchasing an additional 38,870 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of La-Z-Boy by 24.0% during the 4th quarter. Franklin Resources Inc. now owns 1,851,873 shares of the company’s stock worth $69,019,000 after purchasing an additional 358,945 shares in the last quarter. LSV Asset Management raised its stake in shares of La-Z-Boy by 0.8% during the 4th quarter. LSV Asset Management now owns 1,476,882 shares of the company’s stock worth $55,043,000 after purchasing an additional 11,983 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in shares of La-Z-Boy by 46.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 895,003 shares of the company’s stock valued at $33,357,000 after buying an additional 283,364 shares during the last quarter. Institutional investors own 99.62% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Sunday, July 5th. Weiss Ratings raised shares of La-Z-Boy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.
La-Z-Boy Stock Performance
La-Z-Boy stock opened at $41.74 on Wednesday. La-Z-Boy Incorporated has a 52 week low of $29.03 and a 52 week high of $44.90. The stock has a market capitalization of $1.67 billion, a P/E ratio of 16.90, a PEG ratio of 1.25 and a beta of 1.27. The stock has a 50-day simple moving average of $39.12 and a 200 day simple moving average of $36.71.
La-Z-Boy (NYSE:LZB – Get Free Report) last announced its quarterly earnings results on Tuesday, June 16th. The company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.44. The firm had revenue of $570.34 million for the quarter, compared to the consensus estimate of $569.23 million. La-Z-Boy had a return on equity of 11.97% and a net margin of 4.80%.The business’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 earnings per share. Research analysts forecast that La-Z-Boy Incorporated will post 2.98 earnings per share for the current year.
Insider Buying and Selling at La-Z-Boy
In related news, CAO Jennifer Lynn Mccurry sold 3,715 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $41.05, for a total transaction of $152,500.75. Following the transaction, the chief accounting officer directly owned 16,763 shares of the company’s stock, valued at approximately $688,121.15. The trade was a 18.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Raphaell Z. Richmond sold 13,671 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $39.83, for a total value of $544,515.93. Following the completion of the sale, the vice president owned 51,695 shares in the company, valued at approximately $2,059,011.85. This trade represents a 20.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 66,299 shares of company stock worth $2,677,491 in the last three months. 3.12% of the stock is owned by insiders.
La-Z-Boy Profile
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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