Vest Financial LLC Acquires Shares of 6,516 La-Z-Boy Incorporated (NYSE:LZB)

Vest Financial LLC acquired a new position in La-Z-Boy Incorporated (NYSE:LZBFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,516 shares of the company’s stock, valued at approximately $241,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Advisor Group Holdings Inc. grew its holdings in La-Z-Boy by 8.9% in the first quarter. Advisor Group Holdings Inc. now owns 8,820 shares of the company’s stock worth $233,000 after purchasing an additional 723 shares during the period. Raymond James & Associates increased its position in shares of La-Z-Boy by 16.1% during the first quarter. Raymond James & Associates now owns 76,721 shares of the company’s stock valued at $2,023,000 after acquiring an additional 10,642 shares in the last quarter. HighTower Advisors LLC bought a new position in La-Z-Boy in the 1st quarter valued at approximately $369,000. Citigroup Inc. increased its holdings in shares of La-Z-Boy by 1.2% in the 1st quarter. Citigroup Inc. now owns 42,834 shares of the company’s stock worth $1,129,000 after purchasing an additional 500 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of La-Z-Boy by 53.6% in the first quarter. MetLife Investment Management LLC now owns 24,960 shares of the company’s stock worth $658,000 after purchasing an additional 8,710 shares during the last quarter. 96.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, downgraded shares of La-Z-Boy from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th.

View Our Latest Research Report on LZB

La-Z-Boy Stock Up 1.4 %

NYSE LZB opened at $37.19 on Friday. La-Z-Boy Incorporated has a 52 week low of $25.12 and a 52 week high of $39.87. The firm has a market capitalization of $1.59 billion, a P/E ratio of 13.72 and a beta of 1.17. The company has a 50-day moving average price of $36.50 and a 200-day moving average price of $33.86.

La-Z-Boy (NYSE:LZBGet Free Report) last released its earnings results on Wednesday, February 21st. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.08). La-Z-Boy had a net margin of 5.73% and a return on equity of 13.55%. The firm had revenue of $500.40 million for the quarter, compared to analysts’ expectations of $523.09 million. During the same quarter last year, the firm posted $0.91 EPS. The firm’s quarterly revenue was down 12.6% compared to the same quarter last year. As a group, equities research analysts anticipate that La-Z-Boy Incorporated will post 2.86 EPS for the current year.

La-Z-Boy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Monday, March 4th. La-Z-Boy’s payout ratio is 29.52%.

About La-Z-Boy

(Free Report)

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, entertainment centers, and occasional pieces.

Further Reading

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

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