Allspring Global Investments Holdings LLC Takes $3.68 Million Position in La-Z-Boy Incorporated (NYSE:LZB)

Allspring Global Investments Holdings LLC bought a new stake in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 85,803 shares of the company's stock, valued at approximately $3,684,000. Allspring Global Investments Holdings LLC owned approximately 0.20% of La-Z-Boy at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Miller Howard Investments Inc. NY grew its stake in shares of 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 buying an additional 252 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of La-Z-Boy by 1.4% in the 2nd 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 in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of La-Z-Boy by 0.8% in the 1st 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 in the last quarter. SummerHaven Investment Management LLC grew its stake in shares of La-Z-Boy by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 25,332 shares of the company's stock valued at $944,000 after buying an additional 418 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in La-Z-Boy by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 8,742 shares of the company's stock worth $329,000 after purchasing an additional 599 shares during the last quarter. Hedge funds and other institutional investors own 99.62% of the company's stock.

La-Z-Boy Price Performance

LZB traded down $0.73 on Tuesday, hitting $39.08. The company had a trading volume of 307,284 shares, compared to its average volume of 441,364. The company's fifty day moving average price is $40.95 and its 200 day moving average price is $38.71. La-Z-Boy Incorporated has a 1-year low of $28.22 and a 1-year high of $45.23. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 13.89 and a beta of 1.28.

La-Z-Boy (NYSE:LZB - Get Free Report) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. La-Z-Boy had a return on equity of 12.90% and a net margin of 5.89%. The company had revenue of $495.50 million during the quarter, compared to analysts' expectations of $482.23 million. During the same period in the prior year, the business earned $0.62 earnings per share. La-Z-Boy's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, sell-side analysts forecast that La-Z-Boy Incorporated will post 2.98 EPS for the current year.

La-Z-Boy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.80 annualized dividend and a dividend yield of 2.05%. La-Z-Boy's dividend payout ratio is 28.27%.

Insider Activity

In other news, CAO Jennifer Lynn Mccurry sold 4,414 shares of the 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 sale, the chief accounting officer now directly owns 13,236 shares of the company's stock, valued at approximately $546,779.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Janet Kerr sold 3,890 shares of the firm'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 completion of the transaction, the director now directly owns 3,372 shares of the company's stock, valued at $137,881.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jennifer Lynn Mccurry sold 4,414 shares of the firm'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 of the company's stock, valued at approximately $546,779.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Sidoti lowered La-Z-Boy from a "buy" rating to a "neutral" rating and set a $43.00 target price for the company. in a 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.