Principal Financial Group Inc. Boosts Stock Position in La-Z-Boy Incorporated (NYSE:LZB)

Principal Financial Group Inc. grew its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 3.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 223,683 shares of the company’s stock after buying an additional 6,908 shares during the period. Principal Financial Group Inc. owned 0.54% of La-Z-Boy worth $9,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in LZB. Verity Asset Management Inc. purchased a new stake in La-Z-Boy during the fourth quarter worth approximately $275,000. Victory Capital Management Inc. lifted its position in shares of La-Z-Boy by 85.8% during the 3rd quarter. Victory Capital Management Inc. now owns 45,267 shares of the company’s stock worth $1,943,000 after buying an additional 20,900 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of La-Z-Boy by 67.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 143,949 shares of the company’s stock worth $6,272,000 after buying an additional 58,146 shares during the last quarter. abrdn plc boosted its holdings in shares of La-Z-Boy by 38.1% in the 4th quarter. abrdn plc now owns 347,589 shares of the company’s stock valued at $15,148,000 after buying an additional 95,812 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of La-Z-Boy by 1.1% in the 4th quarter. Rhumbline Advisers now owns 160,292 shares of the company’s stock valued at $6,984,000 after buying an additional 1,818 shares during the last quarter. 99.62% of the stock is owned by institutional investors and hedge funds.

La-Z-Boy Price Performance

Shares of NYSE:LZB opened at $45.30 on Friday. La-Z-Boy Incorporated has a 12 month low of $32.00 and a 12 month high of $48.31. The firm has a market capitalization of $1.87 billion, a P/E ratio of 15.57 and a beta of 1.35. The company’s fifty day moving average price is $44.86 and its 200 day moving average price is $42.90.

La-Z-Boy (NYSE:LZB) last posted its earnings results on Tuesday, February 18th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $521.78 million for the quarter, compared to analysts’ expectations of $516.47 million. La-Z-Boy had a return on equity of 12.38% and a net margin of 5.92%. On average, sell-side analysts anticipate that La-Z-Boy Incorporated will post 2.99 EPS for the current year.

La-Z-Boy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Tuesday, March 4th. La-Z-Boy’s dividend payout ratio is currently 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.