Charles Schwab Investment Management Inc. Grows Position in La-Z-Boy Incorporated (NYSE:LZB)

Charles Schwab Investment Management Inc. increased its position in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 801,140 shares of the company's stock after purchasing an additional 22,168 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.93% of La-Z-Boy worth $34,906,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Verity Asset Management Inc. purchased a new position in shares of La-Z-Boy during the 4th quarter worth approximately $275,000. Rhumbline Advisers increased its position in La-Z-Boy by 1.1% during the fourth quarter. Rhumbline Advisers now owns 160,292 shares of the company's stock worth $6,984,000 after buying an additional 1,818 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of La-Z-Boy by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 223,683 shares of the company's stock worth $9,746,000 after acquiring an additional 6,908 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of La-Z-Boy by 85.8% in the third quarter. Victory Capital Management Inc. now owns 45,267 shares of the company's stock valued at $1,943,000 after acquiring an additional 20,900 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of La-Z-Boy by 67.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 143,949 shares of the company's stock valued at $6,272,000 after acquiring an additional 58,146 shares during the last quarter. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

La-Z-Boy Stock Performance

LZB stock traded up $0.45 during trading on Thursday, hitting $39.17. The stock had a trading volume of 728,955 shares, compared to its average volume of 437,629. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 13.47 and a beta of 1.38. The company's 50 day moving average price is $44.16 and its two-hundred day moving average price is $42.91. La-Z-Boy Incorporated has a 1-year low of $32.00 and a 1-year high of $48.31.

La-Z-Boy (NYSE:LZB - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.01. The business had revenue of $521.78 million during the quarter, compared to the consensus estimate of $516.47 million. La-Z-Boy had a net margin of 5.92% and a return on equity of 12.38%. As a group, sell-side analysts forecast that La-Z-Boy Incorporated will post 2.99 earnings per share for the current fiscal year.

La-Z-Boy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Tuesday, March 4th. La-Z-Boy's dividend payout ratio is presently 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.