Janet Kerr Sells 3,890 Shares of La-Z-Boy Incorporated (NYSE:LZB) Stock

La-Z-Boy Incorporated (NYSE:LZB) Director Janet Kerr sold 3,890 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $40.89, for a total value of $159,062.10. Following the completion of the transaction, the director now owns 3,372 shares of the company’s stock, valued at $137,881.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

La-Z-Boy Stock Performance

Shares of LZB stock traded up $0.28 during trading hours on Friday, hitting $40.47. The company had a trading volume of 466,670 shares, compared to its average volume of 441,508. La-Z-Boy Incorporated has a 12 month low of $27.92 and a 12 month high of $45.23. The firm’s fifty day moving average is $40.76 and its 200 day moving average is $37.54. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 14.29 and a beta of 1.29.

La-Z-Boy (NYSE:LZB) last issued its earnings results on Tuesday, August 20th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. The company had revenue of $495.50 million for the quarter, compared to the consensus estimate of $482.23 million. La-Z-Boy had a net margin of 5.89% and a return on equity of 12.90%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 EPS. On average, sell-side analysts expect that La-Z-Boy Incorporated will post 2.98 EPS for the current fiscal year.

La-Z-Boy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, September 5th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, September 5th. La-Z-Boy’s payout ratio is currently 28.27%.

Analyst Upgrades and Downgrades

Separately, Sidoti cut shares of La-Z-Boy from a “buy” rating to a “neutral” rating and set a $43.00 price objective for the company. in a research note on Wednesday, August 21st.

Institutional Investors Weigh In On La-Z-Boy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Trust Advisors LP increased its stake in shares of La-Z-Boy by 31.8% in the fourth quarter. First Trust Advisors LP now owns 789,342 shares of the company’s stock valued at $29,143,000 after buying an additional 190,651 shares in the last quarter. American Century Companies Inc. increased its position in La-Z-Boy by 14.5% in the 2nd quarter. American Century Companies Inc. now owns 982,668 shares of the company’s stock valued at $36,634,000 after acquiring an additional 124,409 shares in the last quarter. Access Investment Management LLC bought a new position in shares of La-Z-Boy in the fourth quarter worth about $4,248,000. Squarepoint Ops LLC lifted its position in shares of La-Z-Boy by 263.6% during the second quarter. Squarepoint Ops LLC now owns 150,617 shares of the company’s stock worth $5,615,000 after purchasing an additional 109,188 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of La-Z-Boy by 7.5% during the second quarter. Pacer Advisors Inc. now owns 1,394,677 shares of the company’s stock valued at $51,994,000 after purchasing an additional 97,680 shares during the last quarter. 99.62% of the stock is owned by institutional investors and hedge funds.

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.