La-Z-Boy (NYSE:LZB) Insider Terrence James Linz Sells 2,500 Shares of Stock

La-Z-Boy Incorporated (NYSE:LZB) insider Terrence James Linz sold 2,500 shares of La-Z-Boy stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $40.23, for a total value of $100,575.00. Following the sale, the insider directly owned 64,383 shares of the company’s stock, valued at $2,590,128.09. This represents a 3.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

La-Z-Boy Trading Down 0.9%

Shares of NYSE LZB opened at $39.76 on Thursday. La-Z-Boy Incorporated has a 12 month low of $29.03 and a 12 month high of $44.90. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 1.23 and a beta of 1.25. The business has a 50-day moving average of $37.09 and a 200-day moving average of $36.47.

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

La-Z-Boy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd were issued a $0.242 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Tuesday, June 2nd. La-Z-Boy’s dividend payout ratio is presently 39.27%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings raised La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Wall Street Zen lowered shares of La-Z-Boy from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.00.

Hedge Funds Weigh In On La-Z-Boy

A number of hedge funds have recently modified their holdings of the company. Royal Bank of Canada raised its stake in shares of La-Z-Boy by 11.1% during the first quarter. Royal Bank of Canada now owns 16,056 shares of the company’s stock valued at $628,000 after acquiring an additional 1,598 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of La-Z-Boy by 3.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,836 shares of the company’s stock worth $971,000 after purchasing an additional 769 shares during the last quarter. Norges Bank purchased a new position in La-Z-Boy during the 2nd quarter valued at about $404,000. Arrowstreet Capital Limited Partnership purchased a new position in La-Z-Boy during the 2nd quarter valued at about $736,000. Finally, EverSource Wealth Advisors LLC raised its position in La-Z-Boy by 290.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock valued at $33,000 after purchasing an additional 670 shares during the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.

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.