Legato Capital Management LLC Cuts Stock Holdings in La-Z-Boy Incorporated $LZB

Legato Capital Management LLC trimmed its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 58.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,332 shares of the company’s stock after selling 14,386 shares during the period. Legato Capital Management LLC’s holdings in La-Z-Boy were worth $385,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its position in La-Z-Boy by 75.2% during the third quarter. Smartleaf Asset Management LLC now owns 755 shares of the company’s stock valued at $26,000 after buying an additional 324 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of La-Z-Boy by 290.0% during the second quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock worth $33,000 after purchasing an additional 670 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of La-Z-Boy by 99.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock worth $42,000 after purchasing an additional 567 shares during the period. TD Private Client Wealth LLC purchased a new stake in shares of La-Z-Boy during the fourth quarter worth about $45,000. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of La-Z-Boy by 3,130.8% during the third quarter. CIBC Private Wealth Group LLC now owns 1,260 shares of the company’s stock worth $43,000 after purchasing an additional 1,221 shares during the period. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LZB has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of La-Z-Boy in a report on Monday, May 18th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, La-Z-Boy currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

La-Z-Boy Price Performance

LZB stock opened at $37.58 on Thursday. La-Z-Boy Incorporated has a 1 year low of $29.03 and a 1 year high of $43.20. The company has a market cap of $1.54 billion, a P/E ratio of 18.61 and a beta of 1.25. The firm has a 50-day moving average of $34.28 and a 200 day moving average of $36.03.

La-Z-Boy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Tuesday, June 2nd will be paid a $0.242 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, June 2nd. La-Z-Boy’s dividend payout ratio is presently 48.02%.

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.