Landscape Capital Management L.L.C. Makes New Investment in La-Z-Boy Incorporated $LZB

Landscape Capital Management L.L.C. bought a new stake in La-Z-Boy Incorporated (NYSE:LZB – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 37,264 shares of the company’s stock, valued at approximately $1,495,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ieq Capital LLC bought a new position in shares of La-Z-Boy during the 2nd quarter valued at approximately $2,118,000. Allworth Financial LP bought a new stake in shares of La-Z-Boy in the 2nd quarter worth approximately $112,000. Meeder Asset Management Inc. bought a new stake in shares of La-Z-Boy in the 2nd quarter worth approximately $147,000. BlackRock Inc. bought a new stake in shares of La-Z-Boy in the 2nd quarter worth approximately $265,535,000. Finally, Deutsche Bank AG purchased a new position in La-Z-Boy in the second quarter valued at approximately $1,714,000. 99.62% of the stock is owned by institutional investors.

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Key La-Z-Boy News

Here are the key news stories impacting La-Z-Boy this week:

• Positive Sentiment: La-Z-Boy’s retail business showed momentum, with retail-segment sales reportedly rising 16% and the company returning $35 million to shareholders. La-Z-Boy Shatters Records: 16% Retail Segment Sales Growth and $35 Million Shareholder Returns
• Positive Sentiment: Management expects second-quarter sales of $500 million to $520 million while investing in supply-chain capacity and retail expansion, signaling confidence in longer-term growth. La-Z-Boy expects Q2 sales of $500M-$520M while investing in supply chain and retail expansion
• Neutral Sentiment: Recent coverage indicates that strong retail performance was offset by weaker wholesale results, highlighting uneven demand across La-Z-Boy’s distribution channels. La-Z-Boy’s retail momentum offset by wholesale numbers in Q1
• Negative Sentiment: Sidoti lowered its FY2027 EPS forecast to $2.55 from $2.66, cut Q2 2027 estimates to $0.48 from $0.73, and reduced Q3 and Q4 estimates to $0.59 and $1.04, respectively. Its Q2 2028 forecast fell to $0.58 from $0.87.
• Negative Sentiment: Sidoti also reduced FY2028 EPS expectations to $3.00 from $3.32. The repeated estimate cuts imply analysts see softer profitability ahead, which is likely weighing on LZB shares.
• Negative Sentiment: La-Z-Boy’s latest reported quarter missed expectations, with EPS of $0.43 versus $0.49 expected and revenue of $475.69 million versus $501.44 million forecast; revenue declined 3.4% year over year.

Insider Transactions at La-Z-Boy

In other news, CEO Melinda D. Whittington sold 26,639 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $40.24, for a total value of $1,071,953.36. Following the completion of the transaction, the chief executive officer directly owned 316,038 shares of the company’s stock, valued at $12,717,369.12. This trade represents a 7.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer Lynn Mccurry sold 3,715 shares of La-Z-Boy stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $41.05, for a total value of $152,500.75. Following the completion of the transaction, the chief accounting officer owned 16,763 shares of the company’s stock, valued at approximately $688,121.15. This trade represents a 18.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 66,299 shares of company stock valued at $2,677,491. 3.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on LZB. KeyCorp reduced their price objective on La-Z-Boy from $46.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday. Weiss Ratings lowered La-Z-Boy from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday. Zacks Research cut La-Z-Boy from a “hold” rating to a “strong sell” rating in a research report on Thursday. Finally, Wall Street Zen downgraded La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $39.50.

Read Our Latest Research Report on LZB

La-Z-Boy Stock Up 0.5%

NYSE LZB opened at $33.82 on Friday. The company’s 50 day moving average is $39.73 and its 200-day moving average is $36.85. La-Z-Boy Incorporated has a 12-month low of $29.03 and a 12-month high of $44.90. The firm has a market cap of $1.35 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 1.08 and a beta of 1.27.

La-Z-Boy (NYSE:LZB – Get Free Report) last announced its quarterly earnings results on Tuesday, August 18th. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). La-Z-Boy had a net margin of 3.86% and a return on equity of 11.79%. The business had revenue of $475.69 million for the quarter, compared to analysts’ expectations of $501.44 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. Equities analysts expect that La-Z-Boy Incorporated will post 2.7 EPS for the current year.

La-Z-Boy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Thursday, September 3rd will be given a dividend of $0.242 per share. The ex-dividend date is Thursday, September 3rd. This represents a $0.97 annualized dividend and a dividend yield of 2.9%. La-Z-Boy’s dividend payout ratio is currently 49.24%.

La-Z-Boy Profile

(Free Report)

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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