JPMorgan Chase & Co. reduced its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 24.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 207,732 shares of the company's stock after selling 66,341 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.50% of La-Z-Boy worth $8,918,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the business. Franklin Resources Inc. grew its stake in shares of La-Z-Boy by 5.7% in the third quarter. Franklin Resources Inc. now owns 26,820 shares of the company's stock valued at $1,074,000 after buying an additional 1,454 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of La-Z-Boy in the 3rd quarter valued at about $352,000. TD Private Client Wealth LLC acquired a new position in shares of La-Z-Boy during the 3rd quarter worth about $43,000. Barclays PLC lifted its position in shares of La-Z-Boy by 244.6% in the third quarter. Barclays PLC now owns 75,256 shares of the company's stock valued at $3,230,000 after buying an additional 53,419 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in shares of La-Z-Boy in the third quarter valued at $3,177,000. Institutional investors own 99.62% of the company's stock.
La-Z-Boy Stock Performance
Shares of NYSE LZB traded up $0.02 during trading hours on Tuesday, reaching $43.92. 164,342 shares of the stock were exchanged, compared to its average volume of 333,130. The stock's fifty day simple moving average is $43.69 and its 200 day simple moving average is $41.79. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 15.20 and a beta of 1.35. La-Z-Boy Incorporated has a 52 week low of $32.00 and a 52 week high of $46.47.
La-Z-Boy Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.00%. This is an increase from La-Z-Boy's previous quarterly dividend of $0.20. La-Z-Boy's dividend payout ratio (DPR) is currently 30.45%.
La-Z-Boy Company 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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