Millennium Management LLC grew its holdings in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 125.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 174,249 shares of the company's stock after purchasing an additional 97,023 shares during the period. Millennium Management LLC owned approximately 0.42% of La-Z-Boy worth $6,496,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of LZB. Canada Pension Plan Investment Board acquired a new stake in shares of La-Z-Boy during the second quarter worth approximately $63,000. Innealta Capital LLC acquired a new stake in shares of La-Z-Boy during the 2nd quarter valued at $69,000. Allspring Global Investments Holdings LLC purchased a new position in shares of La-Z-Boy during the 1st quarter valued at $70,000. Quest Partners LLC purchased a new position in shares of La-Z-Boy during the 2nd quarter valued at $91,000. Finally, Gallacher Capital Management LLC purchased a new stake in shares of La-Z-Boy during the second quarter worth $232,000. Hedge funds and other institutional investors own 99.62% of the company's stock.
La-Z-Boy Trading Up 0.1 %
NYSE LZB traded up $0.02 during trading on Friday, reaching $39.45. The company's stock had a trading volume of 273,230 shares, compared to its average volume of 449,697. The stock has a market capitalization of $1.65 billion, a PE ratio of 14.02 and a beta of 1.28. La-Z-Boy Incorporated has a 1-year low of $27.92 and a 1-year high of $45.23. The business has a 50-day moving average price of $41.34 and a 200-day moving average price of $38.36.
La-Z-Boy (NYSE:LZB - Get Free Report) last released its quarterly earnings data on Tuesday, August 20th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. The business had revenue of $495.50 million during the quarter, compared to analyst estimates of $482.23 million. La-Z-Boy had a net margin of 5.89% and a return on equity of 12.90%. La-Z-Boy's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 EPS. As a group, analysts expect that La-Z-Boy Incorporated will post 2.98 earnings per share for the current year.
La-Z-Boy Dividend Announcement
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 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Thursday, September 5th. La-Z-Boy's payout ratio is 28.47%.
Analysts Set New Price Targets
Separately, Sidoti downgraded La-Z-Boy from a "buy" rating to a "neutral" rating and set a $43.00 target price on the stock. in a research note on Wednesday, August 21st.
Check Out Our Latest Research Report on La-Z-Boy
Insider Buying and Selling
In related news, Director Janet Kerr sold 3,890 shares of La-Z-Boy stock in a transaction 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 transaction, the director now owns 3,372 shares in the company, valued at $137,881.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other La-Z-Boy news, Director Janet Kerr sold 3,890 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $137,881.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Jennifer Lynn Mccurry sold 4,414 shares of La-Z-Boy stock in a transaction that occurred 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 approximately $546,779.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company's stock.
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.
Featured Articles
Before you consider La-Z-Boy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and La-Z-Boy wasn't on the list.
While La-Z-Boy currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
