19,137 Shares in La-Z-Boy Incorporated (NYSE:LZB) Bought by Edgestream Partners L.P.

Edgestream Partners L.P. acquired a new stake in La-Z-Boy Incorporated (NYSE:LZB - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,137 shares of the company's stock, valued at approximately $822,000.

A number of other hedge funds have also recently made changes to their positions in the business. abrdn plc purchased a new position in La-Z-Boy in the 3rd quarter worth approximately $10,809,000. American Century Companies Inc. lifted its holdings in shares of La-Z-Boy by 14.5% in the second quarter. American Century Companies Inc. now owns 982,668 shares of the company's stock worth $36,634,000 after buying an additional 124,409 shares in the last quarter. Squarepoint Ops LLC boosted 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 acquiring an additional 109,188 shares during the last quarter. Pacer Advisors Inc. grew its stake in 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 acquiring an additional 97,680 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in La-Z-Boy by 125.6% in the 2nd quarter. Millennium Management LLC now owns 174,249 shares of the company's stock valued at $6,496,000 after acquiring an additional 97,023 shares during the last quarter. Institutional investors own 99.62% of the company's stock.

Wall Street Analyst Weigh In

Separately, Sidoti cut La-Z-Boy from a "buy" rating to a "neutral" rating and set a $43.00 price target for the company. in a report on Wednesday, August 21st.

La-Z-Boy Stock Performance

La-Z-Boy stock traded down $1.28 during midday trading on Thursday, hitting $44.83. 227,633 shares of the company's stock were exchanged, compared to its average volume of 441,837. La-Z-Boy Incorporated has a 12 month low of $32.00 and a 12 month high of $46.35. The company has a market cap of $1.86 billion, a PE ratio of 15.96 and a beta of 1.34. The firm has a 50-day moving average of $41.68 and a two-hundred day moving average of $40.28.

La-Z-Boy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be paid a $0.22 dividend. This is an increase from La-Z-Boy's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.88 dividend on an annualized basis and a yield of 1.96%. La-Z-Boy's payout ratio is 27.68%.

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.