GAMMA Investing LLC Grows Stock Holdings in La-Z-Boy Incorporated (NYSE:LZB)

GAMMA Investing LLC grew its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 6,396.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 13,447 shares of the company’s stock after purchasing an additional 13,240 shares during the period. GAMMA Investing LLC’s holdings in La-Z-Boy were worth $526,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in LZB. Smartleaf Asset Management LLC lifted its holdings in shares of La-Z-Boy by 244.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 658 shares of the company’s stock valued at $29,000 after purchasing an additional 467 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of La-Z-Boy during the fourth quarter valued at approximately $51,000. Johnson Financial Group Inc. increased its position in shares of La-Z-Boy by 2,394.1% during the fourth quarter. Johnson Financial Group Inc. now owns 1,696 shares of the company’s stock valued at $80,000 after acquiring an additional 1,628 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of La-Z-Boy during the fourth quarter valued at approximately $203,000. Finally, iSAM Funds UK Ltd bought a new stake in shares of La-Z-Boy during the fourth quarter valued at approximately $205,000. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

La-Z-Boy Stock Down 1.5%

Shares of LZB opened at $38.17 on Thursday. The company has a market capitalization of $1.58 billion, a P/E ratio of 19.28 and a beta of 1.31. The firm has a 50 day moving average of $40.60 and a 200 day moving average of $42.23. La-Z-Boy Incorporated has a twelve month low of $35.18 and a twelve month high of $48.31.

La-Z-Boy (NYSE:LZB) last posted its earnings results on Tuesday, June 17th. The company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.01). La-Z-Boy had a return on equity of 8.20% and a net margin of 5.92%. The company had revenue of $570.87 million during the quarter, compared to the consensus estimate of $557.44 million. During the same period last year, the firm posted $0.95 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, sell-side analysts expect that La-Z-Boy Incorporated will post 2.99 EPS for the current year.

La-Z-Boy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Tuesday, June 3rd were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Tuesday, June 3rd. La-Z-Boy’s dividend payout ratio (DPR) is presently 30.24%.

Wall Street Analyst Weigh In

LZB has been the subject of several analyst reports. Wall Street Zen raised shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. KeyCorp raised shares of La-Z-Boy from a “sector weight” rating to an “overweight” rating and set a $46.00 price target for the company in a research report on Friday, April 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.