La-Z-Boy Incorporated $LZB Shares Acquired by Systematic Financial Management LP

Systematic Financial Management LP boosted its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 4.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 591,840 shares of the company’s stock after purchasing an additional 26,009 shares during the period. Systematic Financial Management LP owned approximately 1.45% of La-Z-Boy worth $19,022,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sei Investments Co. boosted its position in shares of La-Z-Boy by 69.5% in the 1st quarter. Sei Investments Co. now owns 116,124 shares of the company’s stock valued at $3,732,000 after purchasing an additional 47,626 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of La-Z-Boy by 5.1% in the first quarter. PNC Financial Services Group Inc. now owns 7,827 shares of the company’s stock worth $252,000 after buying an additional 379 shares during the period. Dimensional Fund Advisors LP increased 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 worth $86,594,000 after acquiring an additional 38,870 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of La-Z-Boy by 2.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 755,267 shares of the company’s stock valued at $24,085,000 after acquiring an additional 18,997 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of La-Z-Boy by 4,288.6% in the 1st quarter. Fifth Third Bancorp now owns 9,655 shares of the company’s stock valued at $310,000 after acquiring an additional 9,435 shares in the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.

La-Z-Boy Trading Down 1.2%

Shares of NYSE:LZB opened at $38.81 on Friday. The stock has a market capitalization of $1.55 billion, a PE ratio of 15.71, a P/E/G ratio of 1.20 and a beta of 1.25. La-Z-Boy Incorporated has a 1 year low of $29.03 and a 1 year high of $44.90. The firm has a fifty day moving average price of $38.34 and a 200 day moving average price of $36.59.

La-Z-Boy (NYSE:LZB) last announced its earnings results on Tuesday, June 16th. The company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.44. La-Z-Boy had a return on equity of 11.97% and a net margin of 4.80%.The firm had revenue of $570.34 million during the quarter, compared to analysts’ expectations of $569.23 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The company’s revenue was down .1% on a year-over-year basis. On average, sell-side analysts forecast that La-Z-Boy Incorporated will post 2.98 earnings per share for the current fiscal year.

La-Z-Boy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, June 2nd were paid a $0.242 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.97 dividend on an annualized basis and a yield of 2.5%. La-Z-Boy’s dividend payout ratio (DPR) is presently 39.27%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Sunday, July 5th. Weiss Ratings raised La-Z-Boy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, La-Z-Boy currently has an average rating of “Moderate Buy” and an average price target of $39.00.

Insiders Place Their Bets

In other La-Z-Boy news, CAO Jennifer Lynn Mccurry sold 3,715 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $41.05, for a total transaction of $152,500.75. Following the completion of the sale, the chief accounting officer directly owned 16,763 shares in the company, valued at $688,121.15. This represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Melinda D. Whittington sold 26,639 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $40.24, for a total value of $1,071,953.36. Following the completion of the sale, the chief executive officer directly owned 316,038 shares in the company, valued at approximately $12,717,369.12. This represents a 7.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 66,299 shares of company stock worth $2,677,491 in the last ninety days. 3.12% of the stock is owned by insiders.

About La-Z-Boy

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.