Yousif Capital Management LLC Sells 452 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Yousif Capital Management LLC lowered its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 2.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,422 shares of the company’s stock after selling 452 shares during the period. Yousif Capital Management LLC’s holdings in La-Z-Boy were worth $603,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its position 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 buying an additional 467 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of La-Z-Boy during the 4th quarter valued at approximately $51,000. Johnson Financial Group Inc. boosted its position in shares of La-Z-Boy by 2,394.1% in the fourth quarter. Johnson Financial Group Inc. now owns 1,696 shares of the company’s stock worth $80,000 after purchasing an additional 1,628 shares during the period. Bank of Montreal Can purchased a new stake in La-Z-Boy in the 4th quarter worth $203,000. Finally, iSAM Funds UK Ltd bought a new stake in La-Z-Boy during the 4th quarter valued at approximately $205,000. Institutional investors own 99.62% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on LZB. Wall Street Zen upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. 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 research note on Friday, April 25th.

La-Z-Boy Price Performance

LZB opened at $38.07 on Friday. The firm has a market capitalization of $1.57 billion, a PE ratio of 19.23 and a beta of 1.31. The business’s 50-day moving average is $40.59 and its two-hundred day moving average is $42.13. La-Z-Boy Incorporated has a 1 year low of $35.18 and a 1 year high of $48.31.

La-Z-Boy (NYSE:LZB) last released its quarterly 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). The business had revenue of $570.87 million during the quarter, compared to analysts’ expectations of $557.44 million. La-Z-Boy had a net margin of 5.92% and a return on equity of 8.18%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 earnings per share. As a group, sell-side analysts expect that La-Z-Boy Incorporated will post 2.99 EPS for the current year.

La-Z-Boy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, June 3rd were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Tuesday, June 3rd. La-Z-Boy’s dividend payout ratio (DPR) is presently 44.44%.

La-Z-Boy Company 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.