Charles Schwab Investment Management Inc. Grows Stock Holdings in La-Z-Boy Incorporated (NYSE:LZB)

Charles Schwab Investment Management Inc. lifted its stake in shares of La-Z-Boy Incorporated (NYSE:LZB) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 801,140 shares of the company’s stock after buying an additional 22,168 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.93% of La-Z-Boy worth $34,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Assetmark Inc. bought a new stake in La-Z-Boy during the third quarter worth about $30,000. Victory Capital Management Inc. boosted its stake in La-Z-Boy by 85.8% during the third quarter. Victory Capital Management Inc. now owns 45,267 shares of the company’s stock worth $1,943,000 after acquiring an additional 20,900 shares in the last quarter. Natixis Advisors LLC boosted its stake in La-Z-Boy by 11.4% during the third quarter. Natixis Advisors LLC now owns 24,349 shares of the company’s stock worth $1,045,000 after acquiring an additional 2,489 shares in the last quarter. Quest Partners LLC boosted its stake in La-Z-Boy by 382.4% during the third quarter. Quest Partners LLC now owns 11,837 shares of the company’s stock worth $508,000 after acquiring an additional 9,383 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in La-Z-Boy by 228.2% during the third quarter. Meeder Asset Management Inc. now owns 33,811 shares of the company’s stock worth $1,452,000 after acquiring an additional 23,510 shares in the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Performance

Shares of NYSE LZB opened at $38.28 on Monday. The firm’s 50 day moving average price is $44.38 and its 200-day moving average price is $42.94. The company has a market cap of $1.58 billion, a PE ratio of 13.16 and a beta of 1.38. La-Z-Boy Incorporated has a 52-week low of $32.00 and a 52-week high of $48.31.

La-Z-Boy (NYSE:LZB) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The company had revenue of $521.78 million for the quarter, compared to the consensus estimate of $516.47 million. La-Z-Boy had a net margin of 5.92% and a return on equity of 12.38%. On average, analysts forecast that La-Z-Boy Incorporated will post 2.99 earnings per share for the current fiscal year.

La-Z-Boy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a $0.22 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.30%. La-Z-Boy’s dividend payout ratio (DPR) is presently 30.24%.

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.