La-Z-Boy Incorporated (LZB) Shares Bought by Meeder Asset Management Inc.
Meeder Asset Management Inc. boosted its stake in shares of La-Z-Boy Incorporated (NYSE:LZB) by 68.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,905 shares of the company’s stock after acquiring an additional 2,794 shares during the quarter. Meeder Asset Management Inc.’s holdings in La-Z-Boy were worth $227,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in La-Z-Boy by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 696,483 shares of the company’s stock worth $19,299,000 after acquiring an additional 29,648 shares during the last quarter. Norges Bank bought a new stake in La-Z-Boy during the 4th quarter worth about $29,919,000. Nordea Investment Management AB grew its holdings in La-Z-Boy by 11.2% during the 4th quarter. Nordea Investment Management AB now owns 161,794 shares of the company’s stock worth $4,484,000 after acquiring an additional 16,275 shares during the last quarter. APG Asset Management N.V. bought a new stake in La-Z-Boy during the 4th quarter worth about $579,000. Finally, Legal & General Group Plc grew its holdings in La-Z-Boy by 5.1% during the 4th quarter. Legal & General Group Plc now owns 115,071 shares of the company’s stock worth $3,179,000 after acquiring an additional 5,599 shares during the last quarter. 92.24% of the stock is currently owned by hedge funds and other institutional investors.
LZB has been the topic of a number of research analyst reports. Sidoti set a $38.00 price objective on shares of La-Z-Boy and gave the stock a “buy” rating in a report on Wednesday, February 20th. ValuEngine lowered shares of La-Z-Boy from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, Zacks Investment Research raised shares of La-Z-Boy from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Saturday, February 23rd.
La-Z-Boy (NYSE:LZB) last issued its earnings results on Tuesday, February 19th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.08. The company had revenue of $467.58 million for the quarter, compared to analyst estimates of $457.17 million. La-Z-Boy had a net margin of 5.92% and a return on equity of 15.94%. On average, equities analysts forecast that La-Z-Boy Incorporated will post 2.18 earnings per share for the current year.
In other news, insider John Douglas Collier sold 49,635 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $32.71, for a total value of $1,623,560.85. Following the transaction, the insider now owns 65,594 shares of the company’s stock, valued at approximately $2,145,579.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Darrell Dewain Edwards sold 1,777 shares of the firm’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $36.02, for a total transaction of $64,007.54. Following the completion of the transaction, the insider now directly owns 31,947 shares in the company, valued at approximately $1,150,730.94. The disclosure for this sale can be found here. Insiders sold a total of 230,598 shares of company stock worth $7,842,411 in the last ninety days. Insiders own 4.55% of the company’s stock.
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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 Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.
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