Algert Global LLC reduced its holdings in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 24.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 70,910 shares of the company's stock after selling 23,450 shares during the period. Algert Global LLC owned 0.17% of La-Z-Boy worth $3,044,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LZB. Sei Investments Co. boosted its position in La-Z-Boy by 26.6% during the first quarter. Sei Investments Co. now owns 15,309 shares of the company's stock valued at $576,000 after purchasing an additional 3,219 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in La-Z-Boy by 0.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 36,639 shares of the company's stock valued at $1,379,000 after acquiring an additional 307 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of La-Z-Boy by 4.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,436 shares of the company's stock valued at $2,425,000 after acquiring an additional 2,717 shares during the period. Cardinal Capital Management increased its stake in shares of La-Z-Boy by 4.4% during the 2nd quarter. Cardinal Capital Management now owns 36,998 shares of the company's stock worth $1,379,000 after purchasing an additional 1,556 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of La-Z-Boy by 122.7% in the 2nd quarter. SG Americas Securities LLC now owns 6,778 shares of the company's stock valued at $253,000 after purchasing an additional 3,734 shares during the period. 99.62% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Separately, Sidoti downgraded La-Z-Boy from a "buy" rating to a "neutral" rating and set a $43.00 target price for the company. in a research note on Wednesday, August 21st.
Read Our Latest Research Report on LZB
La-Z-Boy Stock Performance
Shares of LZB stock traded down $0.07 during midday trading on Wednesday, hitting $45.19. 276,609 shares of the company were exchanged, compared to its average volume of 444,018. The firm's 50 day moving average price is $41.37 and its two-hundred day moving average price is $39.91. The firm has a market capitalization of $1.87 billion, a P/E ratio of 15.66 and a beta of 1.29. La-Z-Boy Incorporated has a 52 week low of $30.76 and a 52 week high of $46.35.
La-Z-Boy Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.95%. This is an increase from La-Z-Boy's previous quarterly dividend of $0.20. The ex-dividend date is Thursday, December 5th. La-Z-Boy's payout ratio is presently 27.68%.
Insider Activity at La-Z-Boy
In other news, Director Janet Kerr sold 3,890 shares of the business's stock in a transaction that occurred 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 directly owns 3,372 shares in the company, valued at approximately $137,881.08. The trade was a 53.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.
La-Z-Boy Profile
(
Free Report)
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.
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