Teacher Retirement System of Texas bought a new stake in La-Z-Boy Incorporated (NYSE:LZB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,806 shares of the company’s stock, valued at approximately $493,000.
Several other large investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in La-Z-Boy by 1.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,055,455 shares of the company’s stock valued at $82,192,000 after purchasing an additional 38,806 shares during the last quarter. Boston Partners lifted its holdings in La-Z-Boy by 11.1% during the 4th quarter. Boston Partners now owns 1,176,610 shares of the company’s stock valued at $36,710,000 after purchasing an additional 117,104 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in La-Z-Boy by 5.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 413,760 shares of the company’s stock valued at $12,910,000 after purchasing an additional 21,020 shares during the last quarter. LSV Asset Management lifted its holdings in La-Z-Boy by 20.0% during the 4th quarter. LSV Asset Management now owns 257,000 shares of the company’s stock valued at $8,018,000 after purchasing an additional 42,800 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in La-Z-Boy by 6.8% during the 4th quarter. American Century Companies Inc. now owns 233,240 shares of the company’s stock valued at $7,277,000 after purchasing an additional 14,848 shares during the last quarter. 88.47% of the stock is owned by institutional investors and hedge funds.
Several brokerages have issued reports on LZB. Zacks Investment Research raised La-Z-Boy from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Wednesday, January 31st. Stifel Nicolaus reaffirmed a “hold” rating on shares of La-Z-Boy in a report on Friday, December 1st. Finally, ValuEngine raised La-Z-Boy from a “hold” rating to a “buy” rating in a report on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $33.50.
In related news, VP Louis M. Riccio, Jr. sold 65,910 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $31.72, for a total value of $2,090,665.20. Following the completion of the transaction, the vice president now owns 95,342 shares of the company’s stock, valued at $3,024,248.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Otis S. Sawyer sold 12,000 shares of the business’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $31.51, for a total value of $378,120.00. Following the completion of the transaction, the senior vice president now directly owns 60,238 shares of the company’s stock, valued at approximately $1,898,099.38. The disclosure for this sale can be found here. Insiders have sold 81,910 shares of company stock valued at $2,595,625 in the last three months. Insiders own 3.17% of the company’s stock.
La-Z-Boy stock traded down $0.25 on Thursday, hitting $29.95. The stock had a trading volume of 160,793 shares, compared to its average volume of 345,032. La-Z-Boy Incorporated has a 12 month low of $23.15 and a 12 month high of $34.25. The firm has a market capitalization of $1,428.51, a P/E ratio of 19.48 and a beta of 0.84.
La-Z-Boy (NYSE:LZB) last posted its earnings results on Tuesday, February 20th. The company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.21). La-Z-Boy had a return on equity of 13.96% and a net margin of 4.74%. The firm had revenue of $413.64 million for the quarter, compared to analyst estimates of $402.67 million. During the same period in the prior year, the business posted $0.47 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. analysts predict that La-Z-Boy Incorporated will post 1.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Tuesday, March 6th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Monday, March 5th. La-Z-Boy’s dividend payout ratio is currently 31.37%.
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La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstery furniture products. The Company also imports, distributes and retails accessories and casegoods (wood) furniture products. The Company’s segments include the Upholstery segment, the Casegoods segment and the Retail segment.
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