Raymond James Financial Inc. purchased a new position in La-Z-Boy Incorporated (NYSE:LZB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,211 shares of the company's stock, valued at approximately $619,000.
Other hedge funds have also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its position in La-Z-Boy by 244.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 658 shares of the company's stock worth $29,000 after purchasing an additional 467 shares during the period. TD Private Client Wealth LLC bought a new stake in shares of La-Z-Boy in the third quarter worth $43,000. Venturi Wealth Management LLC purchased a new stake in La-Z-Boy during the fourth quarter valued at $51,000. Verity Asset Management Inc. bought a new position in La-Z-Boy in the fourth quarter valued at about $275,000. Finally, World Investment Advisors LLC purchased a new position in La-Z-Boy in the third quarter worth about $352,000. 99.62% of the stock is owned by hedge funds and other institutional investors.
La-Z-Boy Stock Performance
Shares of NYSE LZB traded up $0.10 during midday trading on Friday, hitting $38.51. 558,688 shares of the company's stock traded hands, compared to its average volume of 482,122. The firm has a fifty day moving average of $41.67 and a 200 day moving average of $42.51. La-Z-Boy Incorporated has a 1 year low of $32.00 and a 1 year high of $48.31. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 13.23 and a beta of 1.31.
La-Z-Boy (NYSE:LZB - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.01. The business had revenue of $521.78 million during the quarter, compared to analysts' expectations of $516.47 million. La-Z-Boy had a net margin of 5.92% and a return on equity of 12.38%. On average, equities analysts anticipate that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.
La-Z-Boy Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.88 annualized dividend and a yield of 2.29%. La-Z-Boy's dividend payout ratio (DPR) is presently 30.24%.
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.
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