Choreo LLC Takes Position in La-Z-Boy Incorporated (NYSE:LZB)

Choreo LLC bought a new position in shares of La-Z-Boy Incorporated (NYSE:LZB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,766 shares of the company’s stock, valued at approximately $433,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LZB. First Trust Advisors LP raised its holdings in La-Z-Boy by 31.8% during the fourth quarter. First Trust Advisors LP now owns 789,342 shares of the company’s stock worth $29,143,000 after purchasing an additional 190,651 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in La-Z-Boy by 34.9% during the fourth quarter. Allianz Asset Management GmbH now owns 167,776 shares of the company’s stock worth $6,194,000 after purchasing an additional 43,404 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in La-Z-Boy by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,184,810 shares of the company’s stock worth $117,584,000 after purchasing an additional 35,961 shares in the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in La-Z-Boy during the second quarter worth approximately $1,136,000. Finally, Quantbot Technologies LP bought a new stake in La-Z-Boy during the first quarter worth approximately $1,077,000. Institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Performance

La-Z-Boy stock opened at $42.55 on Monday. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 15.04 and a beta of 1.28. La-Z-Boy Incorporated has a 1 year low of $27.92 and a 1 year high of $45.23. The firm’s 50 day moving average price is $41.17 and its two-hundred day moving average price is $37.68.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings results on Tuesday, August 20th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. The firm had revenue of $495.50 million for the quarter, compared to analyst estimates of $482.23 million. La-Z-Boy had a net margin of 5.89% and a return on equity of 12.90%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.62 earnings per share. As a group, equities analysts predict that La-Z-Boy Incorporated will post 2.98 EPS for the current fiscal year.

La-Z-Boy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, September 5th. La-Z-Boy’s payout ratio is 28.27%.

Insiders Place Their Bets

In other La-Z-Boy news, Director Janet Kerr sold 3,890 shares of La-Z-Boy stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $40.89, for a total transaction of $159,062.10. Following the transaction, the director now directly owns 3,372 shares in the company, valued at approximately $137,881.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other La-Z-Boy news, Director Janet Kerr sold 3,890 shares of La-Z-Boy stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $40.89, for a total transaction of $159,062.10. Following the transaction, the director now directly owns 3,372 shares in the company, valued at approximately $137,881.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Jennifer Lynn Mccurry sold 4,414 shares of La-Z-Boy stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $41.31, for a total transaction of $182,342.34. Following the transaction, the chief accounting officer now owns 13,236 shares in the company, valued at $546,779.16. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

Separately, Sidoti cut La-Z-Boy from a “buy” rating to a “neutral” rating and set a $43.00 target price on the stock. in a report on Wednesday, August 21st.

La-Z-Boy Profile

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.