Geode Capital Management LLC Increases Stake in La-Z-Boy Incorporated $LZB

Geode Capital Management LLC grew its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,016,917 shares of the company’s stock after purchasing an additional 9,224 shares during the quarter. Geode Capital Management LLC’s holdings in La-Z-Boy were worth $37,804,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. PFG Advisors grew its position in shares of La-Z-Boy by 10.6% in the 2nd quarter. PFG Advisors now owns 13,045 shares of the company’s stock worth $485,000 after buying an additional 1,248 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in La-Z-Boy during the 2nd quarter worth about $850,000. Access Investment Management LLC acquired a new position in La-Z-Boy in the 2nd quarter worth approximately $3,346,000. Bank of Montreal Can raised its holdings in shares of La-Z-Boy by 4.8% during the second quarter. Bank of Montreal Can now owns 6,564 shares of the company’s stock worth $244,000 after purchasing an additional 300 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its stake in shares of La-Z-Boy by 3.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 12,592 shares of the company’s stock valued at $468,000 after buying an additional 412 shares during the last quarter. Institutional investors own 99.62% of the company’s stock.

Insider Buying and Selling at La-Z-Boy

In other news, Director Janet Kerr sold 3,372 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $35.70, for a total value of $120,380.40. Following the sale, the director directly owned 3,653 shares in the company, valued at approximately $130,412.10. This trade represents a 48.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LZB. Sidoti raised shares of La-Z-Boy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $36.00 to $39.00 in a report on Wednesday, November 19th. Zacks Research upgraded La-Z-Boy from a “hold” rating to a “strong-buy” rating in a report on Friday, November 21st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of La-Z-Boy in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, La-Z-Boy currently has a consensus rating of “Buy” and an average target price of $42.50.

La-Z-Boy Trading Up 0.6%

LZB stock opened at $39.57 on Thursday. The company has a market capitalization of $1.63 billion, a PE ratio of 18.07 and a beta of 1.26. La-Z-Boy Incorporated has a 12-month low of $29.03 and a 12-month high of $48.31. The business’s fifty day moving average price is $33.14 and its 200 day moving average price is $36.63.

La-Z-Boy (NYSE:LZB) last announced its earnings results on Tuesday, November 18th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.17. La-Z-Boy had a net margin of 4.35% and a return on equity of 11.34%. The firm had revenue of $522.48 million for the quarter, compared to the consensus estimate of $517.63 million. During the same period in the prior year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. La-Z-Boy has set its Q3 2026 guidance at EPS. Research analysts predict that La-Z-Boy Incorporated will post 2.99 EPS for the current fiscal year.

La-Z-Boy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Thursday, December 4th will be paid a dividend of $0.242 per share. The ex-dividend date is Thursday, December 4th. This is a positive change from La-Z-Boy’s previous quarterly dividend of $0.22. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.4%. La-Z-Boy’s payout ratio is currently 44.04%.

La-Z-Boy Profile

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.