Allspring Global Investments Holdings LLC boosted its stake in shares of La-Z-Boy Incorporated (NYSE:LZB – Get Rating) by 34,872.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 119,957 shares of the company’s stock after buying an additional 119,614 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.28% of La-Z-Boy worth $2,707,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in La-Z-Boy by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 4,991,590 shares of the company’s stock worth $131,629,000 after buying an additional 233,569 shares during the period. Dimensional Fund Advisors LP lifted its holdings in La-Z-Boy by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,446,367 shares of the company’s stock worth $64,513,000 after buying an additional 32,185 shares during the period. Macquarie Group Ltd. raised its position in shares of La-Z-Boy by 3.1% in the 2nd quarter. Macquarie Group Ltd. now owns 1,630,275 shares of the company’s stock worth $38,654,000 after acquiring an additional 49,471 shares in the last quarter. State Street Corp raised its position in shares of La-Z-Boy by 1.1% in the 2nd quarter. State Street Corp now owns 1,619,898 shares of the company’s stock worth $38,408,000 after acquiring an additional 17,999 shares in the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of La-Z-Boy by 5.0% in the 2nd quarter. William Blair Investment Management LLC now owns 1,381,873 shares of the company’s stock worth $32,764,000 after acquiring an additional 66,361 shares in the last quarter. 96.55% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, StockNews.com initiated coverage on La-Z-Boy in a research report on Wednesday, October 12th. They issued a “buy” rating for the company.
La-Z-Boy Trading Down 1.9 %
La-Z-Boy (NYSE:LZB – Get Rating) last issued its earnings results on Wednesday, November 30th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.19. La-Z-Boy had a return on equity of 19.30% and a net margin of 6.90%. The business had revenue of $611.33 million during the quarter, compared to analyst estimates of $598.50 million. On average, analysts forecast that La-Z-Boy Incorporated will post 3.28 earnings per share for the current year.
La-Z-Boy Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 20th. Investors of record on Monday, December 12th were given a $0.1815 dividend. This represents a $0.73 dividend on an annualized basis and a yield of 2.78%. This is a positive change from La-Z-Boy’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, December 9th. La-Z-Boy’s payout ratio is presently 18.53%.
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.
- Get a free copy of the StockNews.com research report on La-Z-Boy (LZB)
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