Nuveen Asset Management LLC Decreases Stock Position in La-Z-Boy Incorporated (NYSE:LZB)

Nuveen Asset Management LLC trimmed its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 16.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 276,522 shares of the company’s stock after selling 53,501 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.67% of La-Z-Boy worth $12,048,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of LZB. Charles Schwab Investment Management Inc. grew its position in shares of La-Z-Boy by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 801,140 shares of the company’s stock valued at $34,906,000 after purchasing an additional 22,168 shares in the last quarter. Verity Asset Management Inc. purchased a new position in shares of La-Z-Boy during the 4th quarter worth $275,000. Rhumbline Advisers increased its position in shares of La-Z-Boy by 1.1% during the 4th quarter. Rhumbline Advisers now owns 160,292 shares of the company’s stock worth $6,984,000 after purchasing an additional 1,818 shares during the last quarter. Amundi increased its position in shares of La-Z-Boy by 174.5% during the fourth quarter. Amundi now owns 20,325 shares of the company’s stock valued at $876,000 after acquiring an additional 12,921 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of La-Z-Boy by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 223,683 shares of the company’s stock valued at $9,746,000 after acquiring an additional 6,908 shares during the period. Hedge funds and other institutional investors own 99.62% of the company’s stock.

La-Z-Boy Trading Down 0.5%

La-Z-Boy stock opened at $41.97 on Tuesday. The firm has a market capitalization of $1.73 billion, a P/E ratio of 14.42 and a beta of 1.33. La-Z-Boy Incorporated has a twelve month low of $33.34 and a twelve month high of $48.31. The stock’s fifty day simple moving average is $39.92 and its 200-day simple moving average is $42.60.

La-Z-Boy Dividend Announcement

The business 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 dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Tuesday, June 3rd. La-Z-Boy’s dividend payout ratio is presently 30.24%.

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 objective for the company in a research note on Friday, April 25th.

About La-Z-Boy

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.