La-Z-Boy Incorporated (NYSE:LZB) Position Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 85.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,267 shares of the company's stock after acquiring an additional 20,900 shares during the quarter. Victory Capital Management Inc. owned 0.11% of La-Z-Boy worth $1,943,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. raised 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 buying an additional 97,680 shares in the last quarter. American Century Companies Inc. boosted its holdings in 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 purchasing an additional 124,409 shares during the period. abrdn plc bought a new stake in La-Z-Boy during the third quarter valued at $10,809,000. Millennium Management LLC raised its holdings in shares of La-Z-Boy by 125.6% during the second quarter. Millennium Management LLC now owns 174,249 shares of the company's stock worth $6,496,000 after purchasing an additional 97,023 shares during the period. Finally, Squarepoint Ops LLC lifted its position in shares of La-Z-Boy by 263.6% in the 2nd quarter. Squarepoint Ops LLC now owns 150,617 shares of the company's stock worth $5,615,000 after buying an additional 109,188 shares during the last quarter. Institutional investors and hedge funds own 99.62% of the company's stock.

Insider Activity

In other news, Director Janet Kerr sold 3,890 shares of the business's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $40.89, for a total value of $159,062.10. Following the sale, the director now owns 3,372 shares of the company's stock, valued at approximately $137,881.08. The trade was a 53.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

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

La-Z-Boy Stock Performance

Shares of La-Z-Boy stock traded up $2.65 during trading on Monday, hitting $46.34. 421,071 shares of the stock were exchanged, compared to its average volume of 443,159. La-Z-Boy Incorporated has a 12 month low of $30.76 and a 12 month high of $46.34. The stock's fifty day moving average is $41.27 and its 200 day moving average is $39.77. The stock has a market cap of $1.92 billion, a PE ratio of 15.99 and a beta of 1.29.

La-Z-Boy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.88 annualized dividend and a dividend yield of 1.90%. This is a positive change from La-Z-Boy's previous quarterly dividend of $0.20. La-Z-Boy's dividend payout ratio (DPR) is presently 30.45%.

About La-Z-Boy

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.