Squarepoint Ops LLC Buys 109,188 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Squarepoint Ops LLC grew its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 263.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,617 shares of the company's stock after buying an additional 109,188 shares during the quarter. Squarepoint Ops LLC owned approximately 0.36% of La-Z-Boy worth $5,615,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LZB. Allianz Asset Management GmbH increased its stake in shares of La-Z-Boy by 34.9% during the 4th quarter. Allianz Asset Management GmbH now owns 167,776 shares of the company's stock worth $6,194,000 after purchasing an additional 43,404 shares during the last quarter. Quantbot Technologies LP acquired a new position in La-Z-Boy in the 1st quarter valued at about $1,077,000. Texas Permanent School Fund Corp grew its stake in La-Z-Boy by 32.0% in the 2nd quarter. Texas Permanent School Fund Corp now owns 49,422 shares of the company's stock valued at $1,842,000 after buying an additional 11,981 shares during the last quarter. XTX Topco Ltd acquired a new position in La-Z-Boy in the 2nd quarter valued at about $740,000. Finally, Price T Rowe Associates Inc. MD grew its stake in La-Z-Boy by 4.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,436 shares of the company's stock valued at $2,425,000 after buying an additional 2,717 shares during the last quarter. 99.62% of the stock is owned by institutional investors.

Insider Activity at La-Z-Boy

In related news, CAO Jennifer Lynn Mccurry sold 4,414 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.31, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Jennifer Lynn Mccurry sold 4,414 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.31, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Janet Kerr sold 3,890 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $40.89, for a total transaction of $159,062.10. Following the completion of the transaction, the director now directly owns 3,372 shares of the company's stock, valued at approximately $137,881.08. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

La-Z-Boy Stock Performance

Shares of La-Z-Boy stock traded up $0.38 on Monday, reaching $42.95. 448,276 shares of the stock were exchanged, compared to its average volume of 457,154. The firm's 50 day moving average is $41.68 and its 200-day moving average is $38.09. La-Z-Boy Incorporated has a one year low of $27.92 and a one year high of $45.23. The firm has a market cap of $1.80 billion, a PE ratio of 15.17 and a beta of 1.28.

La-Z-Boy (NYSE:LZB - Get Free Report) last issued its quarterly earnings results on Tuesday, August 20th. The company reported $0.62 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $482.23 million. During the same quarter in the prior year, the firm posted $0.62 EPS. The firm's quarterly revenue was up 2.9% on a year-over-year basis. On average, equities 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 disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Thursday, September 5th. La-Z-Boy's payout ratio is 28.27%.

Wall Street Analysts Forecast Growth

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

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.