Ieq Capital LLC bought a new position in shares of La-Z-Boy Incorporated (NYSE:LZB – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 52,781 shares of the company’s stock, valued at approximately $2,118,000. Ieq Capital LLC owned about 0.13% of La-Z-Boy at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the business. Quarry LP boosted its position in La-Z-Boy by 4,785.7% during the fourth quarter. Quarry LP now owns 684 shares of the company’s stock worth $25,000 after purchasing an additional 670 shares during the period. Versant Capital Management Inc lifted its stake in shares of La-Z-Boy by 172.8% during the 2nd quarter. Versant Capital Management Inc now owns 652 shares of the company’s stock worth $26,000 after buying an additional 413 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of La-Z-Boy during the 2nd quarter worth about $28,000. EverSource Wealth Advisors LLC boosted its holdings in shares of La-Z-Boy by 290.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock worth $33,000 after buying an additional 670 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of La-Z-Boy by 99.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock worth $42,000 after buying an additional 567 shares during the period. Institutional investors and hedge funds own 99.62% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on LZB shares. KeyCorp lowered their price target on shares of La-Z-Boy from $46.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, August 20th. Wall Street Zen cut La-Z-Boy from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Zacks Research downgraded La-Z-Boy from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 20th. Finally, Weiss Ratings lowered La-Z-Boy from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, August 20th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $39.50.
La-Z-Boy Stock Performance
LZB stock opened at $32.10 on Wednesday. La-Z-Boy Incorporated has a 52 week low of $29.03 and a 52 week high of $44.90. The company has a market capitalization of $1.29 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 1.08 and a beta of 1.27. The company’s 50-day simple moving average is $39.55 and its 200 day simple moving average is $36.77.
La-Z-Boy (NYSE:LZB – Get Free Report) last issued its quarterly earnings data on Tuesday, August 18th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). La-Z-Boy had a return on equity of 11.79% and a net margin of 3.86%.The business had revenue of $475.69 million during the quarter, compared to analyst estimates of $501.44 million. During the same quarter last year, the firm earned $0.47 EPS. La-Z-Boy’s revenue for the quarter was down 3.4% compared to the same quarter last year. On average, analysts forecast that La-Z-Boy Incorporated will post 2.7 EPS for the current year.
La-Z-Boy Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Thursday, September 3rd will be issued a $0.242 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $0.97 annualized dividend and a yield of 3.0%. La-Z-Boy’s payout ratio is currently 49.24%.
Insider Transactions at La-Z-Boy
In related news, SVP Michael Adam Leggett sold 9,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $41.66, for a total value of $374,940.00. Following the transaction, the senior vice president owned 47,551 shares in the company, valued at approximately $1,980,974.66. This trade represents a 15.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Raphaell Z. Richmond sold 13,671 shares of the business’s stock in a transaction dated 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 transaction, the vice president directly owned 51,695 shares of the company’s stock, valued at approximately $2,059,011.85. This trade represents a 20.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 66,299 shares of company stock worth $2,677,491. Corporate insiders own 3.12% of the company’s stock.
La-Z-Boy Company 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.
Featured Articles
- Five stocks we like better than La-Z-Boy
- Pathward’s Credit Scare Tests Its Comeback Story
- Wiring the AI Boom: Rumble’s $13.7B Pivot
- StoneX: Too Far Too Fast?
- DICK’s Sporting Goods Faces Pain Now for a Bigger Prize
Receive News & Ratings for La-Z-Boy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La-Z-Boy and related companies with MarketBeat.com's FREE daily email newsletter.
