New York State Teachers Retirement System Trims Stock Position in La-Z-Boy Incorporated (NYSE:LZB)

New York State Teachers Retirement System lessened its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 3.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,789 shares of the company’s stock after selling 3,094 shares during the period. New York State Teachers Retirement System owned 0.23% of La-Z-Boy worth $3,573,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of La-Z-Boy during the fourth quarter valued at approximately $35,000. Pacer Advisors Inc. lifted its stake in shares of La-Z-Boy by 21.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,106,430 shares of the company’s stock valued at $40,849,000 after buying an additional 192,546 shares during the period. Vest Financial LLC purchased a new position in shares of La-Z-Boy during the fourth quarter valued at approximately $241,000. American Century Companies Inc. lifted its stake in shares of La-Z-Boy by 22.7% during 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 period. Finally, Deutsche Bank AG lifted its stake in shares of La-Z-Boy by 13.5% during the third quarter. Deutsche Bank AG now owns 21,404 shares of the company’s stock valued at $661,000 after buying an additional 2,548 shares during the period. Hedge funds and other institutional investors own 99.62% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Michael Adam Leggett sold 3,077 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $37.08, for a total value of $114,095.16. Following the completion of the sale, the senior vice president now owns 21,519 shares of the company’s stock, valued at $797,924.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

La-Z-Boy Stock Down 2.3 %

NYSE:LZB opened at $33.97 on Monday. The company has a market cap of $1.45 billion, a P/E ratio of 12.54 and a beta of 1.16. La-Z-Boy Incorporated has a fifty-two week low of $25.12 and a fifty-two week high of $39.87. The firm’s 50 day moving average is $36.73 and its two-hundred day moving average is $34.46.

La-Z-Boy (NYSE:LZB) last posted its quarterly 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). The company had revenue of $500.40 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 EPS. Research analysts forecast that La-Z-Boy Incorporated will post 2.72 earnings per share for the current fiscal year.

La-Z-Boy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Monday, March 4th. La-Z-Boy’s dividend payout ratio is currently 29.52%.

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.