Assetmark Inc. Purchases Shares of 699 La-Z-Boy Incorporated (NYSE:LZB)

Assetmark Inc. acquired a new position in La-Z-Boy Incorporated (NYSE:LZB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 699 shares of the company’s stock, valued at approximately $30,000.

Other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of La-Z-Boy during the 1st quarter valued at $70,000. Sei Investments Co. raised its holdings in La-Z-Boy by 26.6% during the first quarter. Sei Investments Co. now owns 15,309 shares of the company’s stock valued at $576,000 after acquiring an additional 3,219 shares during the period. Russell Investments Group Ltd. raised its holdings in La-Z-Boy by 26.5% during the first quarter. Russell Investments Group Ltd. now owns 46,019 shares of the company’s stock valued at $1,731,000 after acquiring an additional 9,635 shares during the period. ProShare Advisors LLC lifted its position in shares of La-Z-Boy by 7.4% in the first quarter. ProShare Advisors LLC now owns 8,742 shares of the company’s stock valued at $329,000 after acquiring an additional 599 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of La-Z-Boy by 7.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 27,479 shares of the company’s stock worth $1,034,000 after acquiring an additional 1,975 shares during the period. 99.62% of the stock is owned by hedge funds and other institutional investors.

La-Z-Boy Stock Performance

Shares of NYSE:LZB opened at $42.25 on Wednesday. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 15.04 and a beta of 1.29. The firm has a fifty day moving average price of $41.12 and a 200 day moving average price of $39.57. La-Z-Boy Incorporated has a fifty-two week low of $30.76 and a fifty-two week high of $45.23.

La-Z-Boy (NYSE:LZB) last issued its 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. La-Z-Boy had a return on equity of 12.90% and a net margin of 5.89%. The firm had revenue of $495.50 million for the quarter, compared to analysts’ expectations of $482.23 million. During the same period in the previous year, the firm posted $0.62 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year. As a group, research analysts predict that La-Z-Boy Incorporated will post 2.98 earnings per share for the current year.

Insider Activity

In other news, Director Janet Kerr sold 3,890 shares of La-Z-Boy stock in a transaction that occurred on 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 transaction, the director now owns 3,372 shares in the company, valued at approximately $137,881.08. The trade was a 53.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jennifer Lynn Mccurry sold 4,414 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.31, for a total value of $182,342.34. Following the sale, the chief accounting officer now owns 13,236 shares in the company, valued at $546,779.16. The trade was a 25.01 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Sidoti downgraded La-Z-Boy from a “buy” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research note 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.