Walleye Capital LLC acquired a new position in La-Z-Boy Incorporated (NYSE:LZB – Get Rating) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 14,074 shares of the company’s stock, valued at approximately $334,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Citigroup Inc. increased its stake 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 acquiring an additional 500 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in La-Z-Boy by 6.5% in the first quarter. Teacher Retirement System of Texas now owns 9,116 shares of the company’s stock worth $240,000 after purchasing an additional 556 shares during the period. Verity Asset Management Inc. grew its holdings in La-Z-Boy by 7.8% in the first quarter. Verity Asset Management Inc. now owns 7,775 shares of the company’s stock worth $205,000 after purchasing an additional 563 shares during the period. Strs Ohio increased its stake in shares of La-Z-Boy by 5.9% during the second quarter. Strs Ohio now owns 10,700 shares of the company’s stock valued at $253,000 after purchasing an additional 600 shares in the last quarter. Finally, Pinnacle Holdings LLC lifted its holdings in shares of La-Z-Boy by 1.9% during the first quarter. Pinnacle Holdings LLC now owns 32,770 shares of the company’s stock valued at $864,000 after purchasing an additional 610 shares during the last quarter. Hedge funds and other institutional investors own 95.93% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on LZB shares. Raymond James downgraded La-Z-Boy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 25th. StockNews.com initiated coverage on La-Z-Boy in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock.
La-Z-Boy Stock Performance
La-Z-Boy (NYSE:LZB – Get Rating) last announced its quarterly earnings data on Tuesday, August 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.23. La-Z-Boy had a net margin of 6.73% and a return on equity of 18.96%. The company had revenue of $604.09 million during the quarter, compared to analyst estimates of $566.55 million. As a group, equities research analysts forecast that La-Z-Boy Incorporated will post 3.26 EPS for the current fiscal year.
La-Z-Boy Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, September 7th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, September 6th. This represents a $0.66 annualized dividend and a dividend yield of 2.51%. La-Z-Boy’s dividend payout ratio (DPR) is presently 17.55%.
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, and entertainment centers.
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