Dimensional Fund Advisors LP Reduces Position in La-Z-Boy Incorporated (NYSE:LZB)

Dimensional Fund Advisors LP lessened its stake in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,975,857 shares of the company's stock after selling 79,599 shares during the period. Dimensional Fund Advisors LP owned approximately 7.17% of La-Z-Boy worth $129,659,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in LZB. Barclays PLC lifted its position in La-Z-Boy by 244.6% during the third quarter. Barclays PLC now owns 75,256 shares of the company's stock valued at $3,230,000 after purchasing an additional 53,419 shares during the period. World Investment Advisors LLC acquired a new stake in shares of La-Z-Boy in the third quarter worth approximately $352,000. Franklin Resources Inc. grew its holdings in shares of La-Z-Boy by 5.7% during the third quarter. Franklin Resources Inc. now owns 26,820 shares of the company's stock worth $1,074,000 after buying an additional 1,454 shares in the last quarter. Nordea Investment Management AB grew its stake in La-Z-Boy by 3.7% during the 4th quarter. Nordea Investment Management AB now owns 178,281 shares of the company's stock valued at $7,814,000 after acquiring an additional 6,388 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of La-Z-Boy by 8.3% in the fourth quarter. KBC Group NV now owns 9,593 shares of the company's stock valued at $418,000 after purchasing an additional 734 shares during the last quarter. 99.62% of the stock is owned by institutional investors and hedge funds.

La-Z-Boy Stock Performance

Shares of LZB traded up $0.39 during midday trading on Monday, hitting $39.34. 603,137 shares of the stock were exchanged, compared to its average volume of 486,373. The firm has a market cap of $1.62 billion, a P/E ratio of 13.52 and a beta of 1.31. The stock has a fifty day simple moving average of $39.90 and a 200 day simple moving average of $42.28. La-Z-Boy Incorporated has a 52-week low of $32.00 and a 52-week 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 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. La-Z-Boy had a return on equity of 12.38% and a net margin of 5.92%. The company had revenue of $521.78 million for the quarter, compared to the consensus estimate of $516.47 million. As a group, equities research analysts forecast that La-Z-Boy Incorporated will post 2.99 EPS for the current fiscal year.

La-Z-Boy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.88 annualized dividend and a dividend yield of 2.24%. La-Z-Boy's dividend payout ratio is currently 30.24%.

Wall Street Analysts Forecast Growth

Separately, KeyCorp upgraded shares of La-Z-Boy from a "sector weight" rating to an "overweight" rating and set a $46.00 target price on the stock in a report on Friday.

La-Z-Boy 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.