D. E. Shaw & Co. Inc. Grows Stake in La-Z-Boy Incorporated (NYSE:LZB)

D. E. Shaw & Co. Inc. boosted its position in La-Z-Boy Incorporated (NYSE:LZB) by 6.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,692 shares of the company’s stock after purchasing an additional 2,792 shares during the period. D. E. Shaw & Co. Inc. owned about 0.11% of La-Z-Boy worth $1,947,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Alliancebernstein L.P. increased its stake in La-Z-Boy by 0.6% in the 4th quarter. Alliancebernstein L.P. now owns 48,545 shares of the company’s stock valued at $2,115,000 after purchasing an additional 301 shares in the last quarter. State of Tennessee Department of Treasury raised its holdings in shares of La-Z-Boy by 1.5% in the fourth quarter. State of Tennessee Department of Treasury now owns 24,504 shares of the company’s stock worth $1,068,000 after acquiring an additional 359 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of La-Z-Boy by 7.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,282 shares of the company’s stock worth $274,000 after acquiring an additional 457 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of La-Z-Boy by 244.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 658 shares of the company’s stock worth $29,000 after acquiring an additional 467 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of La-Z-Boy by 4.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,887 shares of the company’s stock worth $605,000 after acquiring an additional 556 shares during the last quarter. 99.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, KeyCorp raised La-Z-Boy from a “sector weight” rating to an “overweight” rating and set a $46.00 price target for the company in a report on Friday, April 25th.

La-Z-Boy Stock Down 2.7%

NYSE LZB opened at $42.23 on Thursday. La-Z-Boy Incorporated has a fifty-two week low of $33.34 and a fifty-two week high of $48.31. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 14.51 and a beta of 1.33. The business has a fifty day moving average of $39.70 and a 200-day moving average of $42.53.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. La-Z-Boy had a return on equity of 12.38% and a net margin of 5.92%. The company had revenue of $521.78 million during the quarter, compared to analysts’ expectations of $516.47 million. As a group, analysts anticipate that La-Z-Boy Incorporated will post 2.99 EPS for the current year.

La-Z-Boy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, June 3rd will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Tuesday, June 3rd. La-Z-Boy’s dividend payout ratio is currently 30.24%.

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.