La-Z-Boy Incorporated (NYSE:LZB) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its stake in shares of La-Z-Boy Incorporated (NYSE:LZB) by 2.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,942 shares of the company’s stock after selling 314 shares during the quarter. Amalgamated Bank’s holdings in La-Z-Boy were worth $467,000 at the end of the most recent quarter.

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

La-Z-Boy Price Performance

Shares of NYSE LZB opened at $40.05 on Friday. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 16.97 and a beta of 1.26. The business has a 50-day moving average of $40.58 and a two-hundred day moving average of $41.58. 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 posted its earnings results on Tuesday, June 17th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.01). The firm 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 4.72% and a return on equity of 12.08%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 earnings per share. As a group, equities research analysts expect that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.

La-Z-Boy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Tuesday, June 3rd were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Tuesday, June 3rd. La-Z-Boy’s dividend payout ratio is currently 37.29%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on LZB shares. Wall Street Zen downgraded La-Z-Boy from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. 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 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.