Pacer Advisors Inc. boosted its stake in shares of La-Z-Boy Incorporated (NYSE:LZB – Free Report) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,394,677 shares of the company’s stock after purchasing an additional 97,680 shares during the quarter. Pacer Advisors Inc. owned approximately 3.32% of La-Z-Boy worth $51,994,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of LZB. Canada Pension Plan Investment Board purchased a new stake in shares of La-Z-Boy during the second quarter worth approximately $63,000. Innealta Capital LLC acquired a new position in La-Z-Boy during the 2nd quarter worth approximately $69,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of La-Z-Boy in the 1st quarter valued at approximately $70,000. 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 stake in shares of La-Z-Boy in the 2nd quarter valued at $232,000. Institutional investors and hedge funds own 99.62% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Sidoti lowered 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.
Insider Transactions at La-Z-Boy
In other news, Director Janet Kerr sold 3,890 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $40.89, for a total value 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Janet Kerr sold 3,890 shares of La-Z-Boy 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 transaction, the director now directly owns 3,372 shares of the company’s stock, valued at approximately $137,881.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jennifer Lynn Mccurry sold 4,414 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 13,236 shares of the company’s stock, valued at approximately $546,779.16. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
La-Z-Boy Stock Performance
Shares of NYSE LZB opened at $43.45 on Friday. The stock’s 50-day simple moving average is $41.63 and its 200-day simple moving average is $37.88. The firm has a market capitalization of $1.82 billion, a PE ratio of 15.35 and a beta of 1.28. La-Z-Boy Incorporated has a fifty-two week low of $27.92 and a fifty-two week high of $45.23.
La-Z-Boy (NYSE:LZB – Get Free Report) last released its quarterly earnings data on Tuesday, August 20th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. La-Z-Boy had a net margin of 5.89% and a return on equity of 12.90%. The company had revenue of $495.50 million for the quarter, compared to analysts’ expectations of $482.23 million. During the same quarter last year, the company earned $0.62 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, sell-side analysts forecast that La-Z-Boy Incorporated will post 2.98 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 Monday, September 16th. Shareholders of record on Thursday, September 5th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.84%. The ex-dividend date was Thursday, September 5th. La-Z-Boy’s payout ratio is 28.27%.
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.
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