La-Z-Boy Incorporated (NYSE:LZB) Position Raised by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 2.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,505 shares of the company’s stock after purchasing an additional 5,822 shares during the period. Principal Financial Group Inc. owned 0.56% of La-Z-Boy worth $8,971,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in 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 worth $34,906,000 after buying an additional 22,168 shares during the last quarter. Raymond James Financial Inc. acquired a new position in La-Z-Boy in the fourth quarter worth approximately $619,000. Amundi grew its position in La-Z-Boy by 174.5% in the fourth quarter. Amundi now owns 20,325 shares of the company’s stock worth $876,000 after buying an additional 12,921 shares during the last quarter. Picton Mahoney Asset Management grew its position in La-Z-Boy by 39.6% in the fourth quarter. Picton Mahoney Asset Management now owns 9,381 shares of the company’s stock worth $409,000 after buying an additional 2,661 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in La-Z-Boy by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 999,523 shares of the company’s stock worth $43,549,000 after buying an additional 24,125 shares during the last quarter. Institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Performance

NYSE LZB opened at $38.65 on Tuesday. La-Z-Boy Incorporated has a twelve month low of $35.18 and a twelve month high of $48.31. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 16.38 and a beta of 1.26. The firm’s 50 day moving average price is $40.54 and its two-hundred day moving average price is $41.52.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings data 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). La-Z-Boy had a return on equity of 12.08% and a net margin of 4.72%. The firm had revenue of $570.87 million for the quarter, compared to analysts’ expectations of $557.44 million. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, research analysts forecast that La-Z-Boy Incorporated will post 2.99 EPS for the current fiscal year.

La-Z-Boy Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Tuesday, June 3rd. La-Z-Boy’s dividend payout ratio is currently 37.29%.

Analyst Upgrades and Downgrades

LZB has been the topic of several recent research reports. KeyCorp upgraded shares of La-Z-Boy from a “sector weight” rating to an “overweight” rating and set a $46.00 price target on the stock in a research report on Friday, April 25th. Wall Street Zen cut shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd.

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.