Verition Fund Management LLC Boosts Holdings in La-Z-Boy Incorporated (NYSE:LZB)

Verition Fund Management LLC grew its position in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 233.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,518 shares of the company's stock after buying an additional 43,797 shares during the period. Verition Fund Management LLC owned 0.15% of La-Z-Boy worth $2,684,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Captrust Financial Advisors purchased a new stake in shares of La-Z-Boy during the 3rd quarter valued at approximately $370,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in La-Z-Boy by 9.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,146 shares of the company's stock valued at $478,000 after acquiring an additional 1,008 shares during the period. BNP Paribas Financial Markets lifted its position in shares of La-Z-Boy by 157.4% during the third quarter. BNP Paribas Financial Markets now owns 37,657 shares of the company's stock worth $1,617,000 after acquiring an additional 23,028 shares in the last quarter. FMR LLC boosted its holdings in shares of La-Z-Boy by 16.0% in the third quarter. FMR LLC now owns 74,009 shares of the company's stock worth $3,177,000 after acquiring an additional 10,195 shares during the period. Finally, Kingsview Wealth Management LLC purchased a new position in shares of La-Z-Boy in the third quarter valued at $245,000. Institutional investors own 99.62% of the company's stock.

La-Z-Boy Trading Down 1.8 %

Shares of LZB stock traded down $0.83 during trading hours on Thursday, reaching $45.06. The stock had a trading volume of 106,557 shares, compared to its average volume of 441,307. La-Z-Boy Incorporated has a 12 month low of $32.00 and a 12 month high of $46.35. The firm has a market capitalization of $1.87 billion, a PE ratio of 15.96 and a beta of 1.34. The stock's fifty day simple moving average is $41.68 and its 200 day simple moving average is $40.28.

La-Z-Boy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Thursday, December 5th. This is an increase from La-Z-Boy's previous quarterly dividend of $0.20. La-Z-Boy's dividend payout ratio (DPR) is 27.68%.

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 objective on the stock. in a report on Wednesday, August 21st.

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.