New York State Common Retirement Fund Sells 5,093 Shares of La-Z-Boy Incorporated (NYSE:LZB)

New York State Common Retirement Fund lessened its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,201 shares of the company’s stock after selling 5,093 shares during the period. New York State Common Retirement Fund owned 0.13% of La-Z-Boy worth $2,112,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new stake in shares of La-Z-Boy during the 4th quarter worth about $35,000. SG Americas Securities LLC acquired a new stake in La-Z-Boy during the third quarter worth approximately $153,000. TD Asset Management Inc bought a new stake in shares of La-Z-Boy during the third quarter worth approximately $204,000. Vest Financial LLC acquired a new position in shares of La-Z-Boy in the fourth quarter valued at approximately $241,000. Finally, Quadrature Capital Ltd bought a new position in shares of La-Z-Boy during the third quarter worth approximately $251,000. Institutional investors and hedge funds own 99.62% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, SVP Michael Adam Leggett sold 3,077 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $37.08, for a total value of $114,095.16. Following the completion of the transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by company insiders.

La-Z-Boy Stock Performance

NYSE:LZB opened at $33.98 on Wednesday. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 12.54 and a beta of 1.19. La-Z-Boy Incorporated has a 52 week low of $25.12 and a 52 week high of $39.87. The firm’s 50-day simple moving average is $35.40 and its 200 day simple moving average is $34.87.

La-Z-Boy (NYSE:LZB) last announced its earnings results on Wednesday, February 21st. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.08). The business had revenue of $500.40 million for the quarter, compared to the consensus estimate of $523.09 million. La-Z-Boy had a return on equity of 13.55% and a net margin of 5.73%. The firm’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 earnings per share. Sell-side analysts anticipate that La-Z-Boy Incorporated will post 2.72 EPS for the current year.

La-Z-Boy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Friday, May 31st. La-Z-Boy’s dividend payout ratio (DPR) 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.