Systematic Financial Management LP Lowers Position in La-Z-Boy Incorporated (LZB)
Systematic Financial Management LP lowered its stake in La-Z-Boy Incorporated (NYSE:LZB) by 29.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 397,119 shares of the company’s stock after selling 168,938 shares during the period. Systematic Financial Management LP’s holdings in La-Z-Boy were worth $12,331,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of LZB. Nordea Investment Management AB increased its position in La-Z-Boy by 333.6% in the second quarter. Nordea Investment Management AB now owns 23,472 shares of the company’s stock valued at $653,000 after buying an additional 18,059 shares during the period. Airain ltd bought a new position in La-Z-Boy during the second quarter valued at approximately $440,000. JPMorgan Chase & Co. increased its position in 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 during the period. Teacher Retirement System of Texas increased its position in 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 during the period. Finally, Vanguard Group Inc. increased its position in La-Z-Boy by 3.8% in the second quarter. Vanguard Group Inc. now owns 3,945,765 shares of the company’s stock valued at $109,771,000 after buying an additional 144,113 shares during the period. Institutional investors and hedge funds own 87.94% of the company’s stock.
La-Z-Boy Incorporated (NYSE:LZB) traded down 0.68% during trading on Friday, hitting $29.05. The company had a trading volume of 149,590 shares. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 18.35 and a beta of 0.89. The stock has a 50-day moving average of $29.43 and a 200 day moving average of $27.78. La-Z-Boy Incorporated has a one year low of $22.09 and a one year high of $32.90.
La-Z-Boy (NYSE:LZB) last announced its quarterly earnings results on Wednesday, November 30th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The firm had revenue of $376.60 million for the quarter, compared to the consensus estimate of $376.29 million. La-Z-Boy had a return on equity of 14.79% and a net margin of 5.22%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 earnings per share. Equities analysts forecast that La-Z-Boy Incorporated will post $1.63 EPS for the current fiscal year.
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Several equities analysts recently commented on LZB shares. Zacks Investment Research upgraded 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 research report on Thursday, January 5th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $30.33.
In other La-Z-Boy news, SVP John Douglas Collier sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, December 19th. The stock was sold at an average price of $32.53, for a total transaction of $390,360.00. Following the transaction, the senior vice president now owns 81,065 shares of the company’s stock, valued at $2,637,044.45. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Louis M. Riccio, Jr. sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $32.12, for a total value of $642,400.00. Following the transaction, the vice president now directly owns 95,651 shares in the company, valued at approximately $3,072,310.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,350 shares of company stock worth $1,108,853. Company insiders own 3.57% of the company’s stock.
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.
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