Principal Financial Group Inc. lessened its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB – Free Report) by 1.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 265,921 shares of the company’s stock after selling 3,388 shares during the period. Principal Financial Group Inc. owned 0.62% of La-Z-Boy worth $7,733,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the business. Advisor Group Holdings Inc. grew its stake in shares of La-Z-Boy by 8.9% during the first quarter. Advisor Group Holdings Inc. now owns 8,820 shares of the company’s stock valued at $233,000 after purchasing an additional 723 shares during the last quarter. Raymond James & Associates boosted its holdings in La-Z-Boy by 16.1% in the first quarter. Raymond James & Associates now owns 76,721 shares of the company’s stock valued at $2,023,000 after acquiring an additional 10,642 shares during the last quarter. HighTower Advisors LLC bought a new position in La-Z-Boy in the first quarter valued at about $369,000. Citigroup Inc. boosted its holdings in La-Z-Boy by 1.2% in the first quarter. Citigroup Inc. now owns 42,834 shares of the company’s stock valued at $1,129,000 after acquiring an additional 500 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in La-Z-Boy by 53.6% in the first quarter. MetLife Investment Management LLC now owns 24,960 shares of the company’s stock valued at $658,000 after acquiring an additional 8,710 shares during the last quarter. Institutional investors own 96.31% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, StockNews.com started coverage on shares of La-Z-Boy in a research note on Thursday, August 17th. They issued a “buy” rating on the stock.
La-Z-Boy Trading Up 0.1 %
Shares of LZB opened at $30.83 on Thursday. La-Z-Boy Incorporated has a 1 year low of $21.92 and a 1 year high of $33.92. The stock has a market cap of $1.33 billion, a P/E ratio of 9.54 and a beta of 1.13. The stock’s 50-day moving average price is $30.23 and its two-hundred day moving average price is $29.16.
La-Z-Boy (NYSE:LZB – Get Free Report) last issued its earnings results on Wednesday, August 23rd. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.07. La-Z-Boy had a return on equity of 16.64% and a net margin of 6.27%. The firm had revenue of $481.65 million for the quarter, compared to analysts’ expectations of $474.58 million. During the same quarter last year, the business earned $0.91 earnings per share. The company’s revenue was down 20.3% compared to the same quarter last year. As a group, equities analysts forecast that La-Z-Boy Incorporated will post 2.86 EPS for the current year.
La-Z-Boy Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, September 6th will be given a dividend of $0.1815 per share. The ex-dividend date is Tuesday, September 5th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 2.35%. La-Z-Boy’s dividend payout ratio is 22.60%.
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.
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