Victory Capital Management Inc. increased its stake in La-Z-Boy Incorporated (NYSE:LZB) by 32.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,447 shares of the company’s stock after purchasing an additional 4,746 shares during the quarter. Victory Capital Management Inc.’s holdings in La-Z-Boy were worth $721,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Berman Capital Advisors LLC increased its holdings in shares of La-Z-Boy by 232.1% in the 1st quarter. Berman Capital Advisors LLC now owns 744 shares of the company’s stock valued at $31,000 after purchasing an additional 520 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of La-Z-Boy by 1,131.7% in the 1st quarter. Meeder Asset Management Inc. now owns 776 shares of the company’s stock valued at $33,000 after purchasing an additional 713 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of La-Z-Boy by 110.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,063 shares of the company’s stock valued at $45,000 after purchasing an additional 557 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings in shares of La-Z-Boy by 40.4% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 1,202 shares of the company’s stock valued at $51,000 after purchasing an additional 346 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of La-Z-Boy by 2,513.9% in the 1st quarter. Captrust Financial Advisors now owns 2,823 shares of the company’s stock valued at $120,000 after purchasing an additional 2,715 shares in the last quarter. Institutional investors and hedge funds own 93.65% of the company’s stock.
In other La-Z-Boy news, SVP Otis S. Sawyer sold 18,000 shares of La-Z-Boy stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $35.15, for a total transaction of $632,700.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kurt L. Darrow sold 2,753 shares of La-Z-Boy stock in a transaction dated Thursday, June 17th. The shares were sold at an average price of $36.02, for a total value of $99,163.06. Following the transaction, the director now directly owns 423,341 shares in the company, valued at approximately $15,248,742.82. The disclosure for this sale can be found here. 4.01% of the stock is owned by company insiders.
Shares of NYSE LZB opened at $33.17 on Wednesday. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 12.19 and a beta of 1.08. La-Z-Boy Incorporated has a 52 week low of $29.87 and a 52 week high of $46.74. The company’s 50-day moving average price is $34.59 and its 200 day moving average price is $39.46.
La-Z-Boy (NYSE:LZB) last issued its quarterly earnings data on Monday, August 16th. The company reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.01). The business had revenue of $524.78 million during the quarter, compared to analyst estimates of $485.94 million. La-Z-Boy had a net margin of 6.40% and a return on equity of 17.87%. La-Z-Boy’s revenue was up 83.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 earnings per share. On average, analysts predict that La-Z-Boy Incorporated will post 3.36 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Thursday, September 2nd will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, September 1st. This represents a $0.60 annualized dividend and a dividend yield of 1.81%. La-Z-Boy’s dividend payout ratio is currently 22.90%.
La-Z-Boy, Inc engages in the production of reclining chairs and manufacture and distribution of residential furniture. It operates through the following segments: Wholesale, Retail, and Corporate and Other. 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 casegoods (wood) furniture, such as occasional pieces, bedroom sets, dining room sets and entertainment centers.
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