La-Z-Boy Incorporated (NYSE:LZB) Stock Position Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in La-Z-Boy Incorporated (NYSE:LZB) by 85.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,267 shares of the company’s stock after acquiring an additional 20,900 shares during the period. Victory Capital Management Inc. owned 0.11% of La-Z-Boy worth $1,943,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in LZB. abrdn plc bought a new stake in La-Z-Boy during the third quarter worth approximately $10,809,000. American Century Companies Inc. boosted its holdings in shares of La-Z-Boy by 14.5% during the second quarter. American Century Companies Inc. now owns 982,668 shares of the company’s stock worth $36,634,000 after purchasing an additional 124,409 shares during the period. Squarepoint Ops LLC increased its stake in La-Z-Boy by 263.6% in the 2nd quarter. Squarepoint Ops LLC now owns 150,617 shares of the company’s stock valued at $5,615,000 after buying an additional 109,188 shares during the period. Pacer Advisors Inc. lifted its position in La-Z-Boy by 7.5% in the 2nd quarter. Pacer Advisors Inc. now owns 1,394,677 shares of the company’s stock worth $51,994,000 after buying an additional 97,680 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of La-Z-Boy by 125.6% during the 2nd quarter. Millennium Management LLC now owns 174,249 shares of the company’s stock valued at $6,496,000 after acquiring an additional 97,023 shares in the last quarter. 99.62% of the stock is currently owned by institutional investors.

La-Z-Boy Stock Performance

Shares of LZB opened at $43.69 on Monday. The firm has a market cap of $1.81 billion, a PE ratio of 15.12 and a beta of 1.29. The firm’s 50 day moving average price is $41.27 and its 200 day moving average price is $39.73. La-Z-Boy Incorporated has a twelve month low of $30.76 and a twelve month high of $45.23.

La-Z-Boy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be issued a $0.22 dividend. The ex-dividend date is Thursday, December 5th. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 2.01%. La-Z-Boy’s dividend payout ratio is currently 27.68%.

Insiders Place Their Bets

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 transaction of $159,062.10. Following the completion of the sale, the director now directly owns 3,372 shares of the company’s stock, valued at approximately $137,881.08. This represents a 53.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

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

La-Z-Boy Company 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.