Dimensional Fund Advisors LP lifted its stake in shares of La-Z-Boy Incorporated (NYSE:LZB – Free Report) by 1.5% during the first quarter, HoldingsChannel reports. The firm owned 2,694,255 shares of the company’s stock after acquiring an additional 38,870 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.07% of La-Z-Boy worth $86,594,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in LZB. Royal Bank of Canada increased its holdings in La-Z-Boy by 11.1% during the first quarter. Royal Bank of Canada now owns 16,056 shares of the company’s stock worth $628,000 after buying an additional 1,598 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in La-Z-Boy by 3.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,836 shares of the company’s stock valued at $971,000 after acquiring an additional 769 shares during the last quarter. Norges Bank acquired a new stake in La-Z-Boy in the second quarter valued at $404,000. Arrowstreet Capital Limited Partnership bought a new position in shares of La-Z-Boy in the 2nd quarter valued at about $736,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of La-Z-Boy by 290.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock valued at $33,000 after acquiring an additional 670 shares during the period. Institutional investors and hedge funds own 99.62% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on LZB. Weiss Ratings raised shares of La-Z-Boy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Wall Street Zen upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a report on Sunday, July 5th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, La-Z-Boy has an average rating of “Moderate Buy” and a consensus price target of $39.00.
Insider Buying and Selling at La-Z-Boy
In other La-Z-Boy news, CEO Melinda D. Whittington sold 7,364 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $40.00, for a total value of $294,560.00. Following the transaction, the chief executive officer directly owned 415,061 shares of the company’s stock, valued at $16,602,440. This represents a 1.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael Adam Leggett sold 9,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $41.66, for a total value of $374,940.00. Following the completion of the transaction, the senior vice president directly owned 47,551 shares in the company, valued at approximately $1,980,974.66. This represents a 15.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 66,299 shares of company stock worth $2,677,491 in the last 90 days. Company insiders own 3.12% of the company’s stock.
La-Z-Boy Stock Down 1.7%
La-Z-Boy stock opened at $40.23 on Friday. The stock has a market cap of $1.61 billion, a P/E ratio of 16.29, a P/E/G ratio of 1.25 and a beta of 1.25. La-Z-Boy Incorporated has a twelve month low of $29.03 and a twelve month high of $44.90. The company’s 50-day moving average price is $38.89 and its two-hundred day moving average price is $36.66.
La-Z-Boy (NYSE:LZB – Get Free Report) last issued its quarterly earnings data on Tuesday, June 16th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.44. La-Z-Boy had a net margin of 4.80% and a return on equity of 11.97%. The firm had revenue of $570.34 million during the quarter, compared to the consensus estimate of $569.23 million. During the same period last year, the business posted $0.36 earnings per share. The business’s revenue for the quarter was down .1% compared to the same quarter last year. Equities analysts anticipate that La-Z-Boy Incorporated will post 2.98 earnings per share for the current fiscal year.
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
- Microsoft Just Flipped the AI Spending Narrative Overnight
- Qualcomm’s Turnaround Is Working, So Why Is Wall Street Selling?
- Meta’s Earnings Show Why Wall Street Is Losing Patience With AI Spending
- Can Starbucks Keep This Turnaround Going? The Latest Results Say Yes
Want to see what other hedge funds are holding LZB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for La-Z-Boy Incorporated (NYSE:LZB – Free Report).
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.
