Marshall Wace LLP Acquires Shares of 224,950 La-Z-Boy Incorporated (NYSE:LZB)

Marshall Wace LLP acquired a new stake in shares of La-Z-Boy Incorporated (NYSE:LZB – Get Rating) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 224,950 shares of the company’s stock, valued at approximately $5,078,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in La-Z-Boy by 4.9% during the first quarter. Vanguard Group Inc. now owns 4,991,590 shares of the company’s stock valued at $131,629,000 after buying an additional 233,569 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of La-Z-Boy by 5.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,691,171 shares of the company’s stock worth $60,741,000 after purchasing an additional 131,195 shares during the period. LSV Asset Management raised its position in shares of La-Z-Boy by 4.5% during the 3rd quarter. LSV Asset Management now owns 1,792,293 shares of the company’s stock worth $40,452,000 after purchasing an additional 76,800 shares during the period. Macquarie Group Ltd. raised its position in shares of La-Z-Boy by 1.1% during the 3rd quarter. Macquarie Group Ltd. now owns 1,648,269 shares of the company’s stock worth $37,217,000 after purchasing an additional 17,994 shares during the period. Finally, State Street Corp raised its position in shares of La-Z-Boy by 1.1% during the 2nd quarter. State Street Corp now owns 1,619,898 shares of the company’s stock worth $38,408,000 after purchasing an additional 17,999 shares during the period. Institutional investors and hedge funds own 96.55% of the company’s stock.

La-Z-Boy Stock Performance

Shares of NYSE LZB opened at $28.98 on Tuesday. The stock has a fifty day moving average price of $28.33 and a two-hundred day moving average price of $25.86. The firm has a market cap of $1.25 billion, a P/E ratio of 7.19 and a beta of 1.13. La-Z-Boy Incorporated has a 1 year low of $21.92 and a 1 year high of $33.06.

La-Z-Boy (NYSE:LZB – Get Rating) last issued its earnings results on Wednesday, February 22nd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.66 by $0.25. The business had revenue of $572.72 million during the quarter, compared to analysts’ expectations of $529.57 million. La-Z-Boy had a return on equity of 19.77% and a net margin of 7.03%. La-Z-Boy’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 earnings per share. On average, research analysts predict that La-Z-Boy Incorporated will post 3.6 earnings per share for the current fiscal year.

La-Z-Boy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Tuesday, March 7th will be issued a dividend of $0.182 per share. This is a positive change from La-Z-Boy’s previous quarterly dividend of $0.18. This represents a $0.73 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Monday, March 6th. La-Z-Boy’s dividend payout ratio (DPR) is 18.11%.

Analyst Upgrades and Downgrades

Separately, TheStreet upgraded La-Z-Boy from a “c+” rating to a “b-” rating in a research report on Thursday, January 26th.

About La-Z-Boy

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La-Z-Boy, Inc engages in the production of reclining chairs and manufacture and distribution of residential furniture. It operates through the following segments: Wholesale, Retail, and Corporate and Other. 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 casegoods (wood) furniture, such as occasional pieces, bedroom sets, dining room sets and entertainment centers.