La-Z-Boy Incorporated (NYSE:LZB - Get Free Report) saw a significant decrease in short interest in November. As of November 30th, there was short interest totalling 1,680,000 shares, a decrease of 16.8% from the November 15th total of 2,020,000 shares. Approximately 4.1% of the shares of the stock are short sold. Based on an average daily volume of 429,800 shares, the days-to-cover ratio is currently 3.9 days.
La-Z-Boy Stock Performance
Shares of LZB traded up $0.32 during mid-day trading on Friday, hitting $44.47. 380,954 shares of the company were exchanged, compared to its average volume of 438,685. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 15.39 and a beta of 1.34. La-Z-Boy has a 1-year low of $32.00 and a 1-year high of $46.35. The company has a 50 day moving average of $42.08 and a 200-day moving average of $40.72.
La-Z-Boy Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be paid a $0.22 dividend. The ex-dividend date is Thursday, December 5th. This is a positive change from La-Z-Boy's previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.98%. La-Z-Boy's payout ratio is currently 30.45%.
Analysts Set New Price Targets
Separately, Sidoti cut shares of La-Z-Boy from a "buy" rating to a "neutral" rating and set a $43.00 price target on the stock. in a research note on Wednesday, August 21st.
Get Our Latest Stock Analysis on LZB
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its stake in La-Z-Boy by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 26,820 shares of the company's stock worth $1,074,000 after purchasing an additional 1,454 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of La-Z-Boy in the third quarter worth about $352,000. TD Private Client Wealth LLC acquired a new position in La-Z-Boy during the third quarter worth about $43,000. Barclays PLC grew its stake in La-Z-Boy by 244.6% during the 3rd quarter. Barclays PLC now owns 75,256 shares of the company's stock valued at $3,230,000 after acquiring an additional 53,419 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in La-Z-Boy in the 3rd quarter valued at about $3,177,000. 99.62% of the stock is owned by institutional investors and hedge funds.
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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