La-Z-Boy (LZB) Reaches New 12-Month Low at $26.70
La-Z-Boy Incorporated (NYSE:LZB)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $26.70 and last traded at $27.55, with a volume of 25479 shares. The stock had previously closed at $27.68.
A number of equities analysts have issued reports on LZB shares. ValuEngine upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Thursday, August 23rd. Zacks Investment Research upgraded La-Z-Boy from a “sell” rating to a “hold” rating and set a $33.00 price target on the stock in a research report on Tuesday. Finally, Stifel Nicolaus increased their price target on La-Z-Boy from $33.00 to $35.00 and gave the stock a “hold” rating in a research report on Thursday, August 23rd.
The company has a market capitalization of $1.30 billion, a P/E ratio of 14.95 and a beta of 1.01.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Monday, December 10th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $0.52 dividend on an annualized basis and a yield of 1.92%. This is a positive change from La-Z-Boy’s previous quarterly dividend of $0.12. La-Z-Boy’s dividend payout ratio is presently 26.52%.
In related news, insider John Douglas Collier sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $31.66, for a total value of $158,300.00. Following the sale, the insider now owns 75,070 shares of the company’s stock, valued at approximately $2,376,716.20. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.55% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in La-Z-Boy by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,667,726 shares of the company’s stock valued at $147,501,000 after acquiring an additional 80,890 shares during the last quarter. Legal & General Group Plc raised its holdings in La-Z-Boy by 8.0% in the 3rd quarter. Legal & General Group Plc now owns 109,472 shares of the company’s stock valued at $3,457,000 after acquiring an additional 8,146 shares during the last quarter. Nordea Investment Management AB raised its holdings in La-Z-Boy by 37.0% in the 3rd quarter. Nordea Investment Management AB now owns 145,519 shares of the company’s stock valued at $4,599,000 after acquiring an additional 39,312 shares during the last quarter. Teachers Advisors LLC raised its holdings in La-Z-Boy by 2.4% in the 3rd quarter. Teachers Advisors LLC now owns 94,319 shares of the company’s stock valued at $2,980,000 after acquiring an additional 2,190 shares during the last quarter. Finally, MetLife Investment Advisors LLC raised its holdings in La-Z-Boy by 54.9% in the 3rd quarter. MetLife Investment Advisors LLC now owns 33,584 shares of the company’s stock valued at $1,061,000 after acquiring an additional 11,906 shares during the last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.
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La-Z-Boy Company Profile (NYSE:LZB)
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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