Royce & Associates LP reduced its stake in La-Z-Boy Incorporated (NYSE:LZB) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,670 shares of the company’s stock after selling 4,019 shares during the period. Royce & Associates LP owned about 0.21% of La-Z-Boy worth $2,681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of LZB. Toronto Dominion Bank acquired a new stake in shares of La-Z-Boy in the 3rd quarter valued at approximately $135,000. Ameritas Investment Partners Inc. boosted its stake in shares of La-Z-Boy by 7.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,240 shares of the company’s stock valued at $138,000 after purchasing an additional 290 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of La-Z-Boy by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,999 shares of the company’s stock valued at $162,000 after purchasing an additional 747 shares in the last quarter. Amalgamated Bank acquired a new stake in shares of La-Z-Boy in the 2nd quarter valued at approximately $217,000. Finally, Cigna Investments Inc. New acquired a new stake in shares of La-Z-Boy in the 2nd quarter valued at approximately $218,000. Institutional investors own 86.37% of the company’s stock.

Shares of La-Z-Boy Incorporated (NYSE:LZB) opened at $32.00 on Wednesday. La-Z-Boy Incorporated has a 1 year low of $23.15 and a 1 year high of $34.25. The company has a market cap of $1,511.79, a P/E ratio of 18.26 and a beta of 1.03.

La-Z-Boy (NYSE:LZB) last posted its earnings results on Wednesday, November 29th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.45 by $0.02. La-Z-Boy had a net margin of 5.53% and a return on equity of 14.33%. The business had revenue of $393.20 million for the quarter, compared to the consensus estimate of $390.03 million. During the same period last year, the company earned $0.42 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. equities research analysts expect that La-Z-Boy Incorporated will post 1.74 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Monday, December 11th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 8th. This is an increase from La-Z-Boy’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 1.50%. La-Z-Boy’s dividend payout ratio (DPR) is currently 27.43%.

A number of equities research analysts have recently weighed in on LZB shares. Stifel Nicolaus reduced their price target on shares of La-Z-Boy from $30.00 to $27.00 and set a “hold” rating on the stock in a research note on Thursday, August 24th. Zacks Investment Research upgraded shares of La-Z-Boy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 25th. BidaskClub downgraded shares of La-Z-Boy from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. KeyCorp restated a “buy” rating and issued a $36.00 price target on shares of La-Z-Boy in a research note on Friday, November 10th. Finally, ValuEngine upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $33.00.

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About La-Z-Boy

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstery furniture products. The Company also imports, distributes and retails accessories and casegoods (wood) furniture products. The Company’s segments include the Upholstery segment, the Casegoods segment and the Retail segment.

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Institutional Ownership by Quarter for La-Z-Boy (NYSE:LZB)

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