Chicago Equity Partners LLC acquired a new stake in shares of La-Z-Boy (NYSE:LZB) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 16,910 shares of the company’s stock, valued at approximately $506,000.
Several other hedge funds also recently bought and sold shares of the company. LSV Asset Management lifted its position in shares of La-Z-Boy by 23.3% during the 1st quarter. LSV Asset Management now owns 316,900 shares of the company’s stock valued at $9,491,000 after buying an additional 59,900 shares in the last quarter. Swiss National Bank lifted its position in shares of La-Z-Boy by 4.2% during the 1st quarter. Swiss National Bank now owns 83,800 shares of the company’s stock valued at $2,510,000 after buying an additional 3,400 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of La-Z-Boy by 37.5% during the 1st quarter. Prudential Financial Inc. now owns 598,540 shares of the company’s stock valued at $17,926,000 after buying an additional 163,260 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of La-Z-Boy by 64.1% during the 1st quarter. SG Americas Securities LLC now owns 16,178 shares of the company’s stock valued at $485,000 after buying an additional 6,321 shares in the last quarter. Finally, Algert Global LLC lifted its position in shares of La-Z-Boy by 14.4% during the 1st quarter. Algert Global LLC now owns 97,897 shares of the company’s stock valued at $2,932,000 after buying an additional 12,297 shares in the last quarter. 88.71% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on LZB shares. Zacks Investment Research cut La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. ValuEngine raised La-Z-Boy from a “hold” rating to a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. La-Z-Boy has a consensus rating of “Hold” and a consensus price target of $33.50.
NYSE LZB opened at $31.50 on Monday. La-Z-Boy has a 12 month low of $23.15 and a 12 month high of $34.25. The company has a market capitalization of $1.48 billion, a P/E ratio of 18.21 and a beta of 0.87.
La-Z-Boy (NYSE:LZB) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.21). La-Z-Boy had a return on equity of 13.96% and a net margin of 4.74%. The business had revenue of $413.64 million during the quarter, compared to analysts’ expectations of $402.67 million. During the same period in the prior year, the firm posted $0.47 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. analysts anticipate that La-Z-Boy will post 1.85 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, June 1st will be issued a $0.12 dividend. The ex-dividend date is Thursday, May 31st. This represents a $0.48 dividend on an annualized basis and a yield of 1.52%. La-Z-Boy’s dividend payout ratio is presently 27.75%.
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 Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.
Receive News & Ratings for La-Z-Boy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La-Z-Boy and related companies with MarketBeat.com's FREE daily email newsletter.