Victory Capital Management Inc. Decreases Stake in La-Z-Boy Incorporated (NYSE:LZB)

Victory Capital Management Inc. decreased its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,412 shares of the company’s stock after selling 855 shares during the quarter. Victory Capital Management Inc. owned about 0.11% of La-Z-Boy worth $1,935,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Assetmark Inc. acquired a new position in La-Z-Boy during the third quarter worth about $30,000. Natixis Advisors LLC grew its holdings in shares of La-Z-Boy by 11.4% in the 3rd 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 during the period. Quest Partners LLC increased its stake in La-Z-Boy by 382.4% in the 3rd quarter. Quest Partners LLC now owns 11,837 shares of the company’s stock valued at $508,000 after purchasing an additional 9,383 shares in the last quarter. Meeder Asset Management Inc. raised its holdings 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 purchasing an additional 23,510 shares during the last quarter. Finally, Commerce Bank purchased a new stake in La-Z-Boy during the third quarter worth $264,000. Hedge funds and other institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Up 0.2 %

Shares of LZB stock opened at $38.45 on Tuesday. The stock has a market cap of $1.59 billion, a P/E ratio of 13.21 and a beta of 1.38. La-Z-Boy Incorporated has a fifty-two week low of $32.00 and a fifty-two week high of $48.31. The business has a fifty day simple moving average of $44.38 and a 200-day simple moving average of $42.94.

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

La-Z-Boy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.29%. The ex-dividend date was Tuesday, March 4th. La-Z-Boy’s payout ratio is 30.24%.

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.