Maverick Capital Ltd. trimmed its holdings in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 53.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,508 shares of the company's stock after selling 44,841 shares during the period. Maverick Capital Ltd. owned about 0.09% of La-Z-Boy worth $1,696,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Miller Howard Investments Inc. NY lifted its position in La-Z-Boy by 2.3% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 11,356 shares of the company's stock valued at $423,000 after acquiring an additional 252 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of La-Z-Boy by 1.4% during the second quarter. Louisiana State Employees Retirement System now owns 21,500 shares of the company's stock valued at $802,000 after buying an additional 300 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of La-Z-Boy by 0.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 36,639 shares of the company's stock valued at $1,379,000 after buying an additional 307 shares during the last quarter. SummerHaven Investment Management LLC grew its holdings in La-Z-Boy by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 25,332 shares of the company's stock worth $944,000 after buying an additional 418 shares in the last quarter. Finally, Access Investment Management LLC raised its position in La-Z-Boy by 0.6% in the 2nd quarter. Access Investment Management LLC now owns 115,795 shares of the company's stock valued at $4,317,000 after buying an additional 640 shares during the last quarter. 99.62% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, Sidoti lowered shares of La-Z-Boy from a "buy" rating to a "neutral" rating and set a $43.00 target price for the company. in a research note on Wednesday, August 21st.
Get Our Latest Research Report on La-Z-Boy
Insiders Place Their Bets
In other news, Director Janet Kerr sold 3,890 shares of the company's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $40.89, for a total transaction of $159,062.10. Following the transaction, the director now owns 3,372 shares of the company's stock, valued at $137,881.08. This represents a 53.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.70% of the company's stock.
La-Z-Boy Stock Up 0.3 %
LZB stock traded up $0.13 during midday trading on Friday, hitting $45.27. The company's stock had a trading volume of 223,217 shares, compared to its average volume of 454,945. La-Z-Boy Incorporated has a 1 year low of $32.00 and a 1 year high of $46.35. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 15.66 and a beta of 1.29. The stock's 50-day moving average price is $41.48 and its 200 day moving average price is $40.11.
La-Z-Boy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.88 annualized dividend and a yield of 1.94%. This is a positive change from La-Z-Boy's previous quarterly dividend of $0.20. La-Z-Boy's dividend payout ratio is presently 27.68%.
About La-Z-Boy
(
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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