O Shaughnessy Asset Management LLC Grows Stock Position in La-Z-Boy Incorporated (NYSE:LZB)

O Shaughnessy Asset Management LLC lifted its position in La-Z-Boy Incorporated (NYSE:LZB) by 36.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,447 shares of the company’s stock after purchasing an additional 384 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in La-Z-Boy were worth $54,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Berman Capital Advisors LLC raised its stake in shares of La-Z-Boy by 232.1% in the first quarter. Berman Capital Advisors LLC now owns 744 shares of the company’s stock worth $31,000 after purchasing an additional 520 shares during the last quarter. Harvest Fund Management Co. Ltd grew its holdings in La-Z-Boy by 40.4% during the first quarter. Harvest Fund Management Co. Ltd now owns 1,202 shares of the company’s stock worth $51,000 after acquiring an additional 346 shares during the period. Captrust Financial Advisors grew its holdings in La-Z-Boy by 2,513.9% during the first quarter. Captrust Financial Advisors now owns 2,823 shares of the company’s stock worth $120,000 after acquiring an additional 2,715 shares during the period. McIlrath & Eck LLC acquired a new stake in La-Z-Boy during the second quarter worth about $128,000. Finally, Eaton Vance Management acquired a new stake in La-Z-Boy during the first quarter worth about $196,000. Hedge funds and other institutional investors own 93.65% of the company’s stock.

Separately, Zacks Investment Research raised La-Z-Boy from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Friday, August 20th.

NYSE:LZB opened at $33.48 on Friday. The company has a fifty day moving average of $34.21 and a two-hundred day moving average of $38.98. The stock has a market capitalization of $1.48 billion, a PE ratio of 12.31 and a beta of 1.08. La-Z-Boy Incorporated has a fifty-two week low of $30.17 and a fifty-two week high of $46.74.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings data on Monday, August 16th. The company reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.01). The company had revenue of $524.78 million for the quarter, compared to analyst estimates of $485.94 million. La-Z-Boy had a return on equity of 17.87% and a net margin of 6.40%. The business’s revenue was up 83.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 earnings per share. Equities research analysts predict that La-Z-Boy Incorporated will post 3.36 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Thursday, September 2nd were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Wednesday, September 1st. La-Z-Boy’s dividend payout ratio is presently 22.90%.

In other news, SVP Otis S. Sawyer sold 18,000 shares of the stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $35.15, for a total value of $632,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.01% of the stock is owned by corporate insiders.

About La-Z-Boy

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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Institutional Ownership by Quarter for La-Z-Boy (NYSE:LZB)

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