Janney Montgomery Scott LLC Sells 1,205 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Janney Montgomery Scott LLC lowered its holdings in shares of La-Z-Boy Incorporated (NYSE:LZBGet Rating) by 7.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 14,906 shares of the company’s stock after selling 1,205 shares during the period. Janney Montgomery Scott LLC’s holdings in La-Z-Boy were worth $336,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of LZB. Captrust Financial Advisors grew its holdings in La-Z-Boy by 84.7% during the first quarter. Captrust Financial Advisors now owns 3,290 shares of the company’s stock worth $87,000 after purchasing an additional 1,509 shares during the period. Counterpoint Mutual Funds LLC bought a new stake in shares of La-Z-Boy during the second quarter worth approximately $109,000. Point72 Hong Kong Ltd boosted its holdings in shares of La-Z-Boy by 540.7% during the first quarter. Point72 Hong Kong Ltd now owns 4,363 shares of the company’s stock worth $115,000 after acquiring an additional 3,682 shares during the period. Heritage Wealth Management LLC bought a new stake in shares of La-Z-Boy during the second quarter worth approximately $147,000. Finally, Mutual of America Capital Management LLC boosted its holdings in shares of La-Z-Boy by 14.7% during the second quarter. Mutual of America Capital Management LLC now owns 7,259 shares of the company’s stock worth $172,000 after acquiring an additional 932 shares during the period. Institutional investors own 96.55% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on La-Z-Boy in a report on Wednesday, October 12th. They set a “buy” rating for the company.

La-Z-Boy Trading Down 0.5 %

NYSE LZB opened at $26.86 on Wednesday. La-Z-Boy Incorporated has a 1-year low of $21.92 and a 1-year high of $37.76. The company has a 50 day moving average of $24.89 and a 200-day moving average of $25.45. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 6.82 and a beta of 1.07.

La-Z-Boy (NYSE:LZBGet Rating) last released its quarterly earnings results on Wednesday, November 30th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.19. La-Z-Boy had a net margin of 6.90% and a return on equity of 19.30%. The company had revenue of $611.33 million during the quarter, compared to the consensus estimate of $598.50 million. On average, equities research 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 disclosed a quarterly dividend, which was paid on Tuesday, December 20th. Shareholders of record on Monday, December 12th were given a dividend of $0.1815 per share. This is an increase from La-Z-Boy’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Friday, December 9th. La-Z-Boy’s payout ratio is currently 18.53%.

About La-Z-Boy

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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.

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

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