Truist Financial Corp Sells 4,399 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Truist Financial Corp cut its stake in La-Z-Boy Incorporated (NYSE:LZB) by 15.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,970 shares of the company’s stock after selling 4,399 shares during the quarter. Truist Financial Corp owned 0.06% of La-Z-Boy worth $715,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP grew its position in shares of La-Z-Boy by 184.4% in the 1st quarter. Quarry LP now owns 1,018 shares of the company’s stock valued at $30,000 after purchasing an additional 660 shares during the period. Federated Hermes Inc. boosted its position in La-Z-Boy by 11,058.3% during the 1st quarter. Federated Hermes Inc. now owns 1,339 shares of the company’s stock worth $39,000 after acquiring an additional 1,327 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in shares of La-Z-Boy in the second quarter valued at $41,000. Point72 Middle East FZE bought a new position in shares of La-Z-Boy in the fourth quarter valued at $80,000. Finally, Captrust Financial Advisors grew its stake in shares of La-Z-Boy by 84.7% in the first quarter. Captrust Financial Advisors now owns 3,290 shares of the company’s stock valued at $87,000 after buying an additional 1,509 shares in the last quarter. 96.31% of the stock is owned by institutional investors.

Insider Transactions at La-Z-Boy

In other news, Director Janet Kerr sold 4,582 shares of La-Z-Boy stock in a transaction on Monday, September 25th. The stock was sold at an average price of $30.86, for a total transaction of $141,400.52. Following the completion of the sale, the director now owns 3,890 shares of the company’s stock, valued at $120,045.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

La-Z-Boy Trading Down 1.5 %

NYSE:LZB opened at $30.06 on Thursday. The firm has a fifty day simple moving average of $30.29 and a 200 day simple moving average of $29.50. La-Z-Boy Incorporated has a 1-year low of $22.65 and a 1-year high of $33.92. The stock has a market capitalization of $1.29 billion, a PE ratio of 9.31 and a beta of 1.08.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings results on Wednesday, August 23rd. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $481.65 million during the quarter, compared to the consensus estimate of $474.58 million. During the same quarter last year, the firm posted $0.91 EPS. The company’s quarterly revenue was down 20.3% on a year-over-year basis. On average, equities analysts predict that La-Z-Boy Incorporated will post 2.86 earnings per share for the current fiscal year.

La-Z-Boy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Wednesday, September 6th were issued a dividend of $0.1815 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Tuesday, September 5th. La-Z-Boy’s dividend payout ratio is currently 22.60%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th.

La-Z-Boy 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.