Geode Capital Management LLC Trims Stock Position in La-Z-Boy Incorporated (NYSE:LZB)

Geode Capital Management LLC decreased its stake in La-Z-Boy Incorporated (NYSE:LZB) by 0.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 982,854 shares of the company’s stock after selling 352 shares during the quarter. Geode Capital Management LLC owned approximately 2.35% of La-Z-Boy worth $42,202,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Assetmark Inc. purchased a new stake in La-Z-Boy in the 3rd quarter worth approximately $30,000. Quarry LP lifted its stake in shares of La-Z-Boy by 2,550.0% in the 2nd quarter. Quarry LP now owns 1,378 shares of the company’s stock valued at $51,000 after purchasing an additional 1,326 shares during the period. Canada Pension Plan Investment Board purchased a new stake in La-Z-Boy during the second quarter worth $63,000. Innealta Capital LLC purchased a new stake in La-Z-Boy during the second quarter worth $69,000. Finally, Quest Partners LLC acquired a new stake in La-Z-Boy during the second quarter valued at $91,000. 99.62% of the stock is owned by institutional investors and hedge funds.

La-Z-Boy Stock Performance

Shares of La-Z-Boy stock opened at $43.26 on Tuesday. The firm has a 50-day simple moving average of $42.50 and a two-hundred day simple moving average of $41.05. La-Z-Boy Incorporated has a fifty-two week low of $32.00 and a fifty-two week high of $46.47. The company has a market cap of $1.79 billion, a P/E ratio of 14.97 and a beta of 1.34.

La-Z-Boy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, December 5th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.88 dividend on an annualized basis and a yield of 2.03%. This is an increase from La-Z-Boy’s previous quarterly dividend of $0.20. La-Z-Boy’s dividend payout ratio is currently 30.45%.

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.