Los Angeles Capital Management & Equity Research Inc. reduced its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 3.1% during the third quarter, Holdings Channel reports. The fund owned 33,879 shares of the company’s stock after selling 1,075 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.07% of La-Z-Boy worth $832,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its position in shares of La-Z-Boy by 2.3% in the second quarter. Principal Financial Group Inc. now owns 364,019 shares of the company’s stock valued at $10,127,000 after buying an additional 8,221 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of La-Z-Boy by 20.6% in the second quarter. Prudential Financial Inc. now owns 553,990 shares of the company’s stock valued at $15,412,000 after buying an additional 94,800 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of La-Z-Boy by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,826,684 shares of the company’s stock valued at $78,638,000 after buying an additional 122,653 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of La-Z-Boy by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 7,017 shares of the company’s stock valued at $195,000 after buying an additional 842 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of La-Z-Boy by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 35,565 shares of the company’s stock valued at $989,000 after buying an additional 264 shares in the last quarter. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Institutional Ownership by Quarter for La-Z-Boy (NYSE:LZB)

Shares of La-Z-Boy Incorporated (NYSE:LZB) traded up 1.03% during midday trading on Friday, reaching $29.35. 217,954 shares of the company’s stock were exchanged. La-Z-Boy Incorporated has a 12-month low of $19.56 and a 12-month high of $32.90. The stock’s 50 day moving average price is $30.64 and its 200 day moving average price is $27.77. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 18.54 and a beta of 0.94.

La-Z-Boy (NYSE:LZB) last issued its earnings results on Wednesday, November 30th. The company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.04. The firm had revenue of $376.60 million for the quarter, compared to analysts’ expectations of $376.29 million. La-Z-Boy had a net margin of 5.22% and a return on equity of 14.79%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. Equities analysts anticipate that La-Z-Boy Incorporated will post $1.63 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Friday, December 9th were paid a $0.11 dividend. This is a positive change from La-Z-Boy’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Wednesday, December 7th. La-Z-Boy’s dividend payout ratio is currently 27.85%.

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Several brokerages recently issued reports on LZB. Zacks Investment Research upgraded shares of La-Z-Boy from a “sell” rating to a “hold” rating in a research report on Friday, December 9th. Raymond James Financial, Inc. restated a “market perform” rating on shares of La-Z-Boy in a report on Thursday, January 5th. They noted that the move was a valuation call. Finally, KeyCorp restated a “buy” rating and issued a $28.00 price objective on shares of La-Z-Boy in a report on Monday, October 10th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $30.33.

In other La-Z-Boy news, Director Janet Kerr sold 2,350 shares of the stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $32.38, for a total value of $76,093.00. Following the transaction, the director now directly owns 350 shares in the company, valued at $11,333. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Louis M. Riccio, Jr. sold 20,000 shares of the stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $32.12, for a total transaction of $642,400.00. Following the completion of the transaction, the vice president now owns 95,651 shares in the company, valued at $3,072,310.12. The disclosure for this sale can be found here. 3.57% of the stock is currently owned by company insiders.

La-Z-Boy Company Profile

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.

5 Day Chart for NYSE:LZB

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