Allspring Global Investments Holdings LLC Makes New $3.68 Million Investment in La-Z-Boy Incorporated (NYSE:LZB)

Allspring Global Investments Holdings LLC acquired a new stake in shares of La-Z-Boy Incorporated (NYSE:LZB) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 85,803 shares of the company’s stock, valued at approximately $3,684,000. Allspring Global Investments Holdings LLC owned about 0.20% of La-Z-Boy at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Quarry LP raised its position in shares of La-Z-Boy by 2,550.0% in the second quarter. Quarry LP now owns 1,378 shares of the company’s stock worth $51,000 after acquiring an additional 1,326 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of La-Z-Boy in the 2nd quarter valued at approximately $63,000. Innealta Capital LLC purchased a new stake in shares of La-Z-Boy in the 2nd quarter valued at approximately $69,000. Quest Partners LLC purchased a new stake in shares of La-Z-Boy in the 2nd quarter valued at approximately $91,000. Finally, Gallacher Capital Management LLC acquired a new position in shares of La-Z-Boy in the 2nd quarter worth approximately $232,000. 99.62% of the stock is owned by hedge funds and other institutional investors.

La-Z-Boy Stock Performance

Shares of La-Z-Boy stock opened at $39.83 on Tuesday. La-Z-Boy Incorporated has a 1 year low of $28.22 and a 1 year high of $45.23. The company has a market capitalization of $1.67 billion, a P/E ratio of 14.07 and a beta of 1.28. The company’s fifty day moving average is $41.01 and its two-hundred day moving average is $38.67.

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

La-Z-Boy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were issued a $0.20 dividend. The ex-dividend date was Thursday, September 5th. This represents a $0.80 dividend on an annualized basis and a yield of 2.01%. La-Z-Boy’s payout ratio is 28.27%.

Insider Activity at La-Z-Boy

In other La-Z-Boy news, Director Janet Kerr sold 3,890 shares of the business’s 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 completion of the sale, the director now directly owns 3,372 shares in the company, valued at $137,881.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Janet Kerr sold 3,890 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $40.89, for a total value of $159,062.10. Following the sale, the director now directly owns 3,372 shares of the company’s stock, valued at $137,881.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jennifer Lynn Mccurry sold 4,414 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.31, for a total transaction of $182,342.34. Following the sale, the chief accounting officer now owns 13,236 shares of the company’s stock, valued at approximately $546,779.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Sidoti lowered shares of 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.

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.