La-Z-Boy Incorporated (NYSE:LZB) Holdings Cut by Vanguard Group Inc.

Vanguard Group Inc. trimmed its stake in shares of La-Z-Boy Incorporated (NYSE:LZB) by 0.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,107,664 shares of the company’s stock after selling 12,531 shares during the quarter. Vanguard Group Inc. owned about 11.94% of La-Z-Boy worth $157,725,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in LZB. American Century Companies Inc. lifted its stake in La-Z-Boy by 22.7% in the third quarter. American Century Companies Inc. now owns 588,258 shares of the company’s stock valued at $18,165,000 after buying an additional 108,945 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of La-Z-Boy by 13.5% in the 3rd quarter. Deutsche Bank AG now owns 21,404 shares of the company’s stock worth $661,000 after acquiring an additional 2,548 shares during the period. Comerica Bank bought a new stake in La-Z-Boy in the 3rd quarter valued at about $629,000. The Manufacturers Life Insurance Company boosted its stake in La-Z-Boy by 24.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,839 shares of the company’s stock valued at $674,000 after purchasing an additional 4,352 shares during the period. Finally, Royal Bank of Canada grew its position in La-Z-Boy by 11.9% in the 3rd quarter. Royal Bank of Canada now owns 26,292 shares of the company’s stock worth $812,000 after purchasing an additional 2,797 shares during the last quarter. Institutional investors own 99.62% of the company’s stock.

La-Z-Boy Price Performance

Shares of La-Z-Boy stock opened at $36.86 on Tuesday. La-Z-Boy Incorporated has a 1-year low of $25.12 and a 1-year high of $39.87. The company has a market capitalization of $1.57 billion, a P/E ratio of 13.60 and a beta of 1.16. The business’s fifty day moving average price is $36.75 and its two-hundred day moving average price is $34.19.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.08). The company had revenue of $500.40 million during the quarter, compared to analyst estimates of $523.09 million. La-Z-Boy had a return on equity of 13.55% and a net margin of 5.73%. The business’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 EPS. On average, research analysts expect that La-Z-Boy Incorporated will post 2.72 earnings per share for the current fiscal year.

La-Z-Boy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.17%. The ex-dividend date was Monday, March 4th. La-Z-Boy’s dividend payout ratio is 29.52%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut La-Z-Boy from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th.

Insider Buying and Selling at La-Z-Boy

In other news, SVP Michael Adam Leggett sold 3,077 shares of La-Z-Boy stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $37.08, for a total transaction of $114,095.16. Following the completion of the sale, the senior vice president now owns 21,519 shares in the company, valued at approximately $797,924.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.70% of the company’s stock.

La-Z-Boy Company Profile

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.