Natixis Advisors LLC Lowers Stock Position in La-Z-Boy Incorporated (NYSE:LZB)

Natixis Advisors LLC lowered its position in La-Z-Boy Incorporated (NYSE:LZB) by 5.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,821 shares of the company’s stock after selling 1,152 shares during the period. Natixis Advisors LLC’s holdings in La-Z-Boy were worth $775,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Royce & Associates LP purchased a new stake in La-Z-Boy during the first quarter worth about $441,000. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in La-Z-Boy by 1.8% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 105,118 shares of the company’s stock worth $4,109,000 after buying an additional 1,839 shares during the last quarter. PFG Advisors increased its holdings in La-Z-Boy by 2.6% during the first quarter. PFG Advisors now owns 11,797 shares of the company’s stock worth $461,000 after buying an additional 298 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in La-Z-Boy by 0.8% during the first quarter. Allianz Asset Management GmbH now owns 45,164 shares of the company’s stock worth $1,765,000 after buying an additional 346 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in La-Z-Boy by 79.0% during the first quarter. Victory Capital Management Inc. now owns 79,515 shares of the company’s stock worth $3,108,000 after buying an additional 35,103 shares during the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Down 1.0%

Shares of NYSE:LZB opened at $36.13 on Monday. The firm has a market capitalization of $1.49 billion, a PE ratio of 15.31 and a beta of 1.26. La-Z-Boy Incorporated has a twelve month low of $34.89 and a twelve month high of $48.31. The company has a 50-day moving average price of $38.45 and a two-hundred day moving average price of $40.57.

La-Z-Boy (NYSE:LZB) last issued its earnings results on Tuesday, June 17th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.01). The business had revenue of $570.87 million for the quarter, compared to the consensus estimate of $557.44 million. La-Z-Boy had a return on equity of 12.08% and a net margin of 4.72%. La-Z-Boy’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 EPS. Analysts anticipate that La-Z-Boy Incorporated will post 2.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LZB. Wall Street Zen downgraded shares of La-Z-Boy from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. KeyCorp upgraded shares of La-Z-Boy from a “sector weight” rating to an “overweight” rating and set a $46.00 price objective for the company in a report 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.