Principal Financial Group Inc. Grows Stake in La-Z-Boy Incorporated (NYSE:LZB)

Principal Financial Group Inc. boosted its stake in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 223,683 shares of the company's stock after acquiring an additional 6,908 shares during the period. Principal Financial Group Inc. owned 0.54% of La-Z-Boy worth $9,746,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. abrdn plc bought a new stake in shares of La-Z-Boy in the 3rd quarter worth approximately $10,809,000. Assetmark Inc. purchased a new position in shares of La-Z-Boy during the 3rd quarter valued at $30,000. Versor Investments LP bought a new position in shares of La-Z-Boy during the 3rd quarter worth $446,000. Victory Capital Management Inc. increased its holdings in La-Z-Boy by 85.8% in the 3rd quarter. Victory Capital Management Inc. now owns 45,267 shares of the company's stock worth $1,943,000 after acquiring an additional 20,900 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in La-Z-Boy by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 202,786 shares of the company's stock valued at $8,706,000 after acquiring an additional 10,318 shares during the period. 99.62% of the stock is owned by institutional investors.

La-Z-Boy Price Performance

NYSE:LZB traded down $0.69 on Tuesday, reaching $42.60. 185,887 shares of the company's stock were exchanged, compared to its average volume of 440,009. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 14.65 and a beta of 1.35. The stock has a fifty day simple moving average of $44.91 and a 200-day simple moving average of $42.97. La-Z-Boy Incorporated has a 52 week low of $32.00 and a 52 week high of $48.31.

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La-Z-Boy (NYSE:LZB - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. La-Z-Boy had a net margin of 5.92% and a return on equity of 12.38%. The company had revenue of $521.78 million during the quarter, compared to the consensus estimate of $516.47 million. As a group, sell-side analysts predict that La-Z-Boy Incorporated will post 2.99 EPS for the current year.

La-Z-Boy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.88 dividend on an annualized basis and a yield of 2.07%. La-Z-Boy's dividend payout ratio (DPR) is 30.24%.

About La-Z-Boy

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.