La-Z-Boy Incorporated (NYSE:LZB - Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 2,830,000 shares, a growth of 22.5% from the March 15th total of 2,310,000 shares. Based on an average daily volume of 573,400 shares, the days-to-cover ratio is presently 4.9 days. Currently, 6.9% of the shares of the stock are sold short.
La-Z-Boy Stock Performance
LZB traded up $0.57 on Friday, reaching $39.11. The company had a trading volume of 71,625 shares, compared to its average volume of 538,970. La-Z-Boy has a 52-week low of $32.00 and a 52-week high of $48.31. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 13.45 and a beta of 1.31. The business has a 50 day simple moving average of $40.32 and a 200 day simple moving average of $42.27.
La-Z-Boy (NYSE:LZB - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. La-Z-Boy had a net margin of 5.92% and a return on equity of 12.38%. The firm had revenue of $521.78 million for the quarter, compared to analysts' expectations of $516.47 million. As a group, equities research analysts predict that La-Z-Boy will post 2.99 EPS for the current fiscal year.
La-Z-Boy Announces Dividend
The company 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 2.25%. La-Z-Boy's dividend payout ratio (DPR) is presently 30.24%.
Hedge Funds Weigh In On La-Z-Boy
Large investors have recently modified their holdings of the company. American Century Companies Inc. grew its position in La-Z-Boy by 3.0% during the fourth quarter. American Century Companies Inc. now owns 1,149,236 shares of the company's stock valued at $50,072,000 after acquiring an additional 33,416 shares during the last quarter. William Blair Investment Management LLC boosted its stake in shares of La-Z-Boy by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 999,523 shares of the company's stock valued at $43,549,000 after purchasing an additional 24,125 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of La-Z-Boy by 2.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 960,023 shares of the company's stock valued at $41,828,000 after purchasing an additional 23,329 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of La-Z-Boy by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 801,140 shares of the company's stock valued at $34,906,000 after purchasing an additional 22,168 shares during the last quarter. Finally, Systematic Financial Management LP raised its position in La-Z-Boy by 4.0% in the 4th quarter. Systematic Financial Management LP now owns 586,107 shares of the company's stock worth $25,537,000 after purchasing an additional 22,423 shares during the period. 99.62% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, KeyCorp upgraded La-Z-Boy from a "sector weight" rating to an "overweight" rating and set a $46.00 price objective on the stock in a research report on Friday.
View Our Latest Report on La-Z-Boy
La-Z-Boy Company Profile
(
Get 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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