Pacer Advisors Inc. Raises Stake in La-Z-Boy Incorporated (NYSE:LZB)

Pacer Advisors Inc. lifted its holdings in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 7.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,394,677 shares of the company's stock after buying an additional 97,680 shares during the period. Pacer Advisors Inc. owned approximately 3.32% of La-Z-Boy worth $51,994,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new position in La-Z-Boy during the second quarter worth $63,000. Intech Investment Management LLC purchased a new position in shares of La-Z-Boy during the 2nd quarter worth $609,000. XTX Topco Ltd acquired a new position in shares of La-Z-Boy during the 2nd quarter valued at about $740,000. Hsbc Holdings PLC grew its holdings in shares of La-Z-Boy by 45.3% in the second quarter. Hsbc Holdings PLC now owns 8,959 shares of the company's stock valued at $332,000 after purchasing an additional 2,794 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in La-Z-Boy during the second quarter worth about $3,501,000. 99.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

La-Z-Boy Trading Down 1.1 %

LZB stock traded down $0.47 during midday trading on Friday, hitting $43.45. 2,827,234 shares of the company's stock were exchanged, compared to its average volume of 458,872. La-Z-Boy Incorporated has a 1-year low of $27.92 and a 1-year high of $45.23. The stock has a market capitalization of $1.82 billion, a PE ratio of 15.35 and a beta of 1.28. The business has a 50-day simple moving average of $41.63 and a two-hundred day simple moving average of $37.88.

La-Z-Boy (NYSE:LZB - Get Free Report) last posted its earnings results on Tuesday, August 20th. The company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.02. La-Z-Boy had a net margin of 5.89% and a return on equity of 12.90%. The company had revenue of $495.50 million for the quarter, compared to analysts' expectations of $482.23 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. La-Z-Boy's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, research analysts expect that La-Z-Boy Incorporated will post 2.98 EPS for the current fiscal year.

La-Z-Boy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.80 annualized dividend and a yield of 1.84%. La-Z-Boy's dividend payout ratio (DPR) is presently 28.27%.

Insider Activity at La-Z-Boy

In related 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 in the company, valued at approximately $137,881.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Janet Kerr sold 3,890 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $40.89, for a total value of $159,062.10. Following the completion of the transaction, the director now owns 3,372 shares of the company's stock, valued at $137,881.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Jennifer Lynn Mccurry sold 4,414 shares of La-Z-Boy stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.31, for a total transaction of $182,342.34. Following the completion of the transaction, the chief accounting officer now owns 13,236 shares of the company's stock, valued at approximately $546,779.16. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

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.