La-Z-Boy (NYSE:LZB) Shares Gap Down to $40.70

La-Z-Boy Incorporated (NYSE:LZB) shares gapped down prior to trading on Thursday . The stock had previously closed at $40.70, but opened at $39.88. La-Z-Boy shares last traded at $40.01, with a volume of 132,861 shares trading hands.

La-Z-Boy Stock Performance

The company has a fifty day simple moving average of $35.16 and a two-hundred day simple moving average of $36.02. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 13.39 and a beta of 1.25.

La-Z-Boy (NYSE:LZB) last issued its quarterly earnings results on Tuesday, June 18th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.25. The company had revenue of $553.54 million during the quarter, compared to the consensus estimate of $516.44 million. La-Z-Boy had a return on equity of 13.10% and a net margin of 5.99%. La-Z-Boy’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 EPS. As a group, analysts expect that La-Z-Boy Incorporated will post 2.8 EPS for the current year.

La-Z-Boy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, June 4th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.80 annualized dividend and a dividend yield of 2.11%. La-Z-Boy’s dividend payout ratio is presently 28.27%.

Institutional Trading of La-Z-Boy

Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in shares of La-Z-Boy by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,184,810 shares of the company’s stock valued at $117,584,000 after buying an additional 35,961 shares during the period. Pacer Advisors Inc. grew its stake in shares of La-Z-Boy by 21.1% during the 4th quarter. Pacer Advisors Inc. now owns 1,106,430 shares of the company’s stock valued at $40,849,000 after buying an additional 192,546 shares during the period. First Trust Advisors LP grew its stake in shares of La-Z-Boy by 31.8% during the 4th quarter. First Trust Advisors LP now owns 789,342 shares of the company’s stock valued at $29,143,000 after buying an additional 190,651 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of La-Z-Boy by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 763,900 shares of the company’s stock valued at $23,589,000 after buying an additional 20,309 shares during the period. Finally, Schroder Investment Management Group grew its stake in shares of La-Z-Boy by 1.3% during the 4th quarter. Schroder Investment Management Group now owns 692,004 shares of the company’s stock valued at $25,549,000 after buying an additional 8,722 shares during the period. 99.62% of the stock is owned by hedge funds and other institutional investors.

About La-Z-Boy

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States, Canada, and internationally. It operates through Wholesale, Retail, Corporate and Other segments. The Wholesale segment manufactures, and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas; and imports, distributes, and retails casegoods (wood) furniture, including occasional pieces, bedroom sets, dining room sets, entertainment centers, and occasional pieces.