La-Z-Boy Incorporated (NYSE:LZB) Holdings Lowered by Shell Asset Management Co.

Shell Asset Management Co. trimmed its stake in shares of La-Z-Boy Incorporated (NYSE:LZBGet Rating) by 12.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,218 shares of the company’s stock after selling 2,973 shares during the quarter. Shell Asset Management Co.’s holdings in La-Z-Boy were worth $533,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State of New Jersey Common Pension Fund D raised its holdings in shares of La-Z-Boy by 16.0% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 90,580 shares of the company’s stock worth $2,389,000 after purchasing an additional 12,476 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of La-Z-Boy in the 1st quarter worth approximately $202,000. Gladius Capital Management LP bought a new stake in shares of La-Z-Boy in the 1st quarter worth approximately $82,000. Sciencast Management LP raised its holdings in shares of La-Z-Boy by 135.8% in the 1st quarter. Sciencast Management LP now owns 12,727 shares of the company’s stock worth $326,000 after purchasing an additional 7,329 shares in the last quarter. Finally, Tributary Capital Management LLC raised its holdings in shares of La-Z-Boy by 5.1% in the 1st quarter. Tributary Capital Management LLC now owns 422,430 shares of the company’s stock worth $11,139,000 after purchasing an additional 20,662 shares in the last quarter. 96.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on LZB. StockNews.com upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a report on Wednesday, May 11th. Raymond James reiterated an “outperform” rating and issued a $32.00 target price (down from $40.00) on shares of La-Z-Boy in a report on Friday, June 24th.

La-Z-Boy Price Performance

La-Z-Boy stock opened at $28.02 on Wednesday. The firm’s 50 day simple moving average is $25.35 and its 200-day simple moving average is $27.90. The company has a market cap of $1.22 billion, a P/E ratio of 8.22 and a beta of 1.03. La-Z-Boy Incorporated has a fifty-two week low of $22.21 and a fifty-two week high of $39.99.

La-Z-Boy (NYSE:LZBGet Rating) last released its earnings results on Tuesday, June 21st. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.14. The business had revenue of $684.57 million for the quarter, compared to the consensus estimate of $668.85 million. La-Z-Boy had a net margin of 6.37% and a return on equity of 17.59%. On average, analysts expect that La-Z-Boy Incorporated will post 3.13 EPS for the current fiscal year.

La-Z-Boy Company Profile

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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, and entertainment centers.

See Also

Institutional Ownership by Quarter for La-Z-Boy (NYSE:LZB)

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