Jennifer Lynn Mccurry Sells 3,410 Shares of La-Z-Boy (NYSE:LZB) Stock

La-Z-Boy Incorporated (NYSE:LZB) CAO Jennifer Lynn Mccurry sold 3,410 shares of La-Z-Boy stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $40.60, for a total value of $138,446.00. Following the sale, the chief accounting officer directly owned 15,453 shares of the company’s stock, valued at approximately $627,391.80. The trade was a 18.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

La-Z-Boy Price Performance

Shares of LZB stock opened at $41.88 on Thursday. La-Z-Boy Incorporated has a fifty-two week low of $29.03 and a fifty-two week high of $44.90. The stock’s 50-day moving average is $36.55 and its two-hundred day moving average is $36.42. The firm has a market cap of $1.67 billion, a P/E ratio of 16.95, a PEG ratio of 1.23 and a beta of 1.26.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings results on Tuesday, June 16th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.44. The business had revenue of $570.34 million during the quarter, compared to analyst estimates of $569.23 million. La-Z-Boy had a return on equity of 11.97% and a net margin of 4.80%.The firm’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 EPS. As a group, research analysts expect that La-Z-Boy Incorporated will post 2.98 EPS 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 given a dividend of $0.242 per share. This represents a $0.97 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, June 2nd. La-Z-Boy’s dividend payout ratio (DPR) is presently 39.27%.

Analyst Upgrades and Downgrades

LZB has been the subject of several recent research reports. Weiss Ratings raised shares of La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Wall Street Zen raised shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LZB. Vanguard Group Inc. lifted its holdings in La-Z-Boy by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 4,814,114 shares of the company’s stock worth $179,422,000 after purchasing an additional 38,513 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of La-Z-Boy by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,694,255 shares of the company’s stock valued at $86,594,000 after purchasing an additional 38,870 shares during the period. Franklin Resources Inc. raised its position in shares of La-Z-Boy by 24.0% in the fourth quarter. Franklin Resources Inc. now owns 1,851,873 shares of the company’s stock valued at $69,019,000 after purchasing an additional 358,945 shares during the period. LSV Asset Management lifted its stake in shares of La-Z-Boy by 0.8% in the fourth quarter. LSV Asset Management now owns 1,476,882 shares of the company’s stock worth $55,043,000 after buying an additional 11,983 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of La-Z-Boy by 7.2% in the third quarter. American Century Companies Inc. now owns 1,434,642 shares of the company’s stock worth $49,237,000 after buying an additional 95,737 shares during the last quarter. 99.62% of the stock is owned by institutional investors.

La-Z-Boy Company 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.