LSV Asset Management Sells 97,768 Shares of La-Z-Boy Incorporated (NYSE:LZB)

LSV Asset Management reduced its stake in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 6.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,527,537 shares of the company's stock after selling 97,768 shares during the quarter. LSV Asset Management owned approximately 3.68% of La-Z-Boy worth $66,555,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of LZB. Charles Schwab Investment Management Inc. increased its position in shares of La-Z-Boy by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 801,140 shares of the company's stock valued at $34,906,000 after buying an additional 22,168 shares during the period. Verity Asset Management Inc. bought a new position in La-Z-Boy in the 4th quarter worth about $275,000. Rhumbline Advisers increased its position in shares of La-Z-Boy by 1.1% in the fourth quarter. Rhumbline Advisers now owns 160,292 shares of the company's stock worth $6,984,000 after purchasing an additional 1,818 shares during the last quarter. Principal Financial Group Inc. raised its stake in La-Z-Boy by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 223,683 shares of the company's stock valued at $9,746,000 after purchasing an additional 6,908 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in La-Z-Boy by 67.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 143,949 shares of the company's stock valued at $6,272,000 after purchasing an additional 58,146 shares during the last quarter. Hedge funds and other institutional investors own 99.62% of the company's stock.

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La-Z-Boy Price Performance

LZB stock traded down $0.43 during mid-day trading on Tuesday, hitting $38.02. 312,101 shares of the stock were exchanged, compared to its average volume of 557,487. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 13.07 and a beta of 1.31. The business has a fifty day moving average price of $41.33 and a 200 day moving average price of $42.46. La-Z-Boy Incorporated has a 12 month low of $32.00 and a 12 month high of $48.31.

La-Z-Boy (NYSE:LZB - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.68 earnings per share for the quarter, topping 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 business had revenue of $521.78 million during the quarter, compared to the consensus estimate of $516.47 million. As a group, equities analysts forecast that La-Z-Boy Incorporated will post 2.99 EPS for the current fiscal year.

La-Z-Boy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.31%. La-Z-Boy's dividend payout ratio is currently 30.24%.

La-Z-Boy Company 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.