Algert Global LLC Raises Position in La-Z-Boy Incorporated (NYSE:LZB)

Algert Global LLC increased its position in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 657.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 94,360 shares of the company's stock after purchasing an additional 81,900 shares during the quarter. Algert Global LLC owned 0.22% of La-Z-Boy worth $3,518,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. raised its holdings 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 worth $51,994,000 after purchasing an additional 97,680 shares during the last quarter. American Century Companies Inc. raised its holdings in La-Z-Boy by 14.5% during 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 last quarter. First Trust Advisors LP raised its holdings in La-Z-Boy by 31.8% during the fourth quarter. First Trust Advisors LP now owns 789,342 shares of the company's stock worth $29,143,000 after purchasing an additional 190,651 shares during the last quarter. Schroder Investment Management Group raised its holdings in La-Z-Boy by 1.3% during the fourth quarter. Schroder Investment Management Group now owns 692,004 shares of the company's stock worth $25,549,000 after purchasing an additional 8,722 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in La-Z-Boy by 0.7% during the first quarter. Principal Financial Group Inc. now owns 235,072 shares of the company's stock worth $8,843,000 after purchasing an additional 1,739 shares during the last quarter. 99.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

La-Z-Boy Price Performance

La-Z-Boy stock traded down $0.84 during mid-day trading on Tuesday, hitting $42.09. 157,872 shares of the company were exchanged, compared to its average volume of 455,545. The business's 50 day simple moving average is $41.70 and its two-hundred day simple moving average is $38.14. The company has a market capitalization of $1.77 billion, a P/E ratio of 14.87 and a beta of 1.28. La-Z-Boy Incorporated has a 12-month low of $27.92 and a 12-month high of $45.23.

La-Z-Boy (NYSE:LZB - Get Free Report) last released its quarterly earnings results on Tuesday, August 20th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. The company had revenue of $495.50 million during the quarter, compared to the consensus estimate of $482.23 million. La-Z-Boy had a return on equity of 12.90% and a net margin of 5.89%. La-Z-Boy's revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 earnings per share. Equities research analysts predict that La-Z-Boy Incorporated will post 2.98 earnings per share for the current year.

La-Z-Boy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were paid a $0.20 dividend. The ex-dividend date was Thursday, September 5th. This represents a $0.80 annualized dividend and a yield of 1.90%. La-Z-Boy's payout ratio is currently 28.27%.

Insider Activity at La-Z-Boy

In related news, CAO Jennifer Lynn Mccurry sold 4,414 shares of the company's stock in a transaction on Monday, August 26th. The stock was 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 directly owns 13,236 shares in the company, valued at $546,779.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other La-Z-Boy news, CAO Jennifer Lynn Mccurry sold 4,414 shares of the company's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $41.31, for a total transaction of $182,342.34. Following the completion of the sale, the chief accounting officer now directly owns 13,236 shares in the company, valued at $546,779.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Janet Kerr sold 3,890 shares of the company's stock in a transaction dated 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 $137,881.08. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

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.