SG Americas Securities LLC cut its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB – Free Report) by 30.1% during the first quarter, HoldingsChannel.com reports. The firm owned 103,670 shares of the company’s stock after selling 44,556 shares during the quarter. SG Americas Securities LLC’s holdings in La-Z-Boy were worth $3,332,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Quarry LP raised its stake in shares of La-Z-Boy by 4,785.7% during the fourth quarter. Quarry LP now owns 684 shares of the company’s stock worth $25,000 after buying an additional 670 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in La-Z-Boy by 290.0% in the second quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock valued at $33,000 after acquiring an additional 670 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in La-Z-Boy by 99.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock valued at $42,000 after acquiring an additional 567 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in La-Z-Boy by 159.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company’s stock worth $43,000 after acquiring an additional 713 shares during the period. Finally, TD Private Client Wealth LLC acquired a new stake in La-Z-Boy during the 4th quarter worth $45,000. Institutional investors own 99.62% of the company’s stock.
Insiders Place Their Bets
In other La-Z-Boy news, SVP Michael Adam Leggett sold 9,000 shares of La-Z-Boy stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $41.66, for a total transaction of $374,940.00. Following the transaction, the senior vice president directly owned 47,551 shares in the company, valued at approximately $1,980,974.66. The trade was a 15.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jennifer Lynn Mccurry sold 3,715 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $41.05, for a total value of $152,500.75. Following the completion of the transaction, the chief accounting officer directly owned 16,763 shares of the company’s stock, valued at approximately $688,121.15. The trade was a 18.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 63,799 shares of company stock valued at $2,576,916. Insiders own 2.66% of the company’s stock.
La-Z-Boy Stock Performance
La-Z-Boy (NYSE:LZB – Get Free Report) last announced its quarterly earnings results on Tuesday, June 16th. The company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.44. La-Z-Boy had a net margin of 4.80% and a return on equity of 11.97%. The company had revenue of $570.34 million for the quarter, compared to analysts’ expectations of $569.23 million. During the same period last year, the firm posted $0.36 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. On average, sell-side analysts forecast that La-Z-Boy Incorporated will post 2.98 earnings per share for the current year.
La-Z-Boy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, June 2nd were paid a dividend of $0.242 per share. This represents a $0.97 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, June 2nd. La-Z-Boy’s dividend payout ratio (DPR) is presently 39.27%.
Analysts Set New Price Targets
A number of research firms have recently weighed in on LZB. Weiss Ratings raised La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Wall Street Zen cut La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Saturday. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.
View Our Latest Analysis on La-Z-Boy
La-Z-Boy Profile
La-Z-Boy Incorporated (NYSE: LZB) is a leading U.S. manufacturer and marketer of residential furniture, best known for its upholstered recliners, sofas, stationary chairs and sleeper sofas. The company offers a broad range of products in both fabric and leather, complemented by occasional tables, desks, lamps and other home furnishings through its branded retail network.
Founded in 1927 by cousins Edward Knabusch and Edwin Shoemaker in Monroe, Michigan, La-Z-Boy pioneered the modern reclining chair.
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