Pacer Advisors Inc. lifted its position in La-Z-Boy Incorporated (NYSE:LZB – Get Rating) by 40.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,411 shares of the company’s stock after purchasing an additional 58,370 shares during the quarter. Pacer Advisors Inc. owned 0.47% of La-Z-Boy worth $5,390,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Marshall Wace LLP bought a new stake in La-Z-Boy in the third quarter valued at $276,000. Eaton Vance Management grew its position in La-Z-Boy by 8.3% in the third quarter. Eaton Vance Management now owns 5,257 shares of the company’s stock valued at $128,000 after acquiring an additional 404 shares during the period. Point72 Asset Management L.P. bought a new stake in La-Z-Boy in the third quarter valued at $29,000. Voloridge Investment Management LLC bought a new stake in La-Z-Boy in the third quarter valued at $1,470,000. Finally, UBS Group AG grew its position in La-Z-Boy by 25.0% in the third quarter. UBS Group AG now owns 113,469 shares of the company’s stock valued at $3,657,000 after acquiring an additional 22,677 shares during the period. Institutional investors and hedge funds own 96.00% of the company’s stock.
Several analysts have recently commented on the company. TheStreet cut La-Z-Boy from a “b” rating to a “c+” rating in a report on Friday, March 4th. StockNews.com upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a report on Wednesday, May 11th.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Thursday, June 2nd were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 2.69%. The ex-dividend date was Wednesday, June 1st. La-Z-Boy’s dividend payout ratio is 22.84%.
La-Z-Boy Company Profile (Get Rating)
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 and Retail 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, and entertainment centers.
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