Wellington Management Group LLP Takes $3.18 Million Position in La-Z-Boy Incorporated (NYSE:LZB)

Wellington Management Group LLP purchased a new stake in La-Z-Boy Incorporated (NYSE:LZB - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 74,000 shares of the company's stock, valued at approximately $3,177,000. Wellington Management Group LLP owned about 0.18% of La-Z-Boy at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LZB. Weiss Asset Management LP purchased a new stake in La-Z-Boy in the third quarter valued at approximately $5,988,000. State Street Corp raised its position in La-Z-Boy by 0.4% in the 3rd quarter. State Street Corp now owns 1,672,009 shares of the company's stock valued at $71,779,000 after purchasing an additional 6,925 shares during the last quarter. Systematic Financial Management LP boosted its stake in La-Z-Boy by 9.4% during the 3rd quarter. Systematic Financial Management LP now owns 563,684 shares of the company's stock worth $24,199,000 after purchasing an additional 48,263 shares during the period. Edgestream Partners L.P. purchased a new position in La-Z-Boy during the 3rd quarter worth $822,000. Finally, Verition Fund Management LLC grew its position in La-Z-Boy by 233.9% during the 3rd quarter. Verition Fund Management LLC now owns 62,518 shares of the company's stock worth $2,684,000 after purchasing an additional 43,797 shares during the last quarter. Institutional investors and hedge funds own 99.62% of the company's stock.

Analyst Ratings Changes

Separately, Sidoti cut shares of 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 Price Performance

Shares of LZB stock traded down $1.24 during midday trading on Wednesday, hitting $43.41. The company had a trading volume of 564,000 shares, compared to its average volume of 438,372. La-Z-Boy Incorporated has a 52-week low of $32.00 and a 52-week high of $46.47. The company's 50 day simple moving average is $42.24 and its 200 day simple moving average is $40.86. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 15.02 and a beta of 1.34.

La-Z-Boy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, December 5th were paid a $0.22 dividend. This is a boost from La-Z-Boy's previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Thursday, December 5th. La-Z-Boy's payout ratio is currently 30.45%.

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.