Public Employees Retirement System of Ohio Has $152,000 Stake in La-Z-Boy Incorporated (LZB)
Public Employees Retirement System of Ohio lowered its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 91.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,649 shares of the company’s stock after selling 62,745 shares during the period. Public Employees Retirement System of Ohio’s holdings in La-Z-Boy were worth $152,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Boston Partners increased its stake in shares of La-Z-Boy by 39.0% in the third quarter. Boston Partners now owns 1,059,506 shares of the company’s stock worth $28,501,000 after buying an additional 297,244 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of La-Z-Boy by 154.2% in the second quarter. JPMorgan Chase & Co. now owns 472,830 shares of the company’s stock worth $15,367,000 after buying an additional 286,854 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of La-Z-Boy in the third quarter worth $5,875,000. Ameriprise Financial Inc. increased its stake in shares of La-Z-Boy by 28.5% in the second quarter. Ameriprise Financial Inc. now owns 634,811 shares of the company’s stock worth $20,633,000 after buying an additional 140,951 shares during the last quarter. Finally, Smith Graham & Co. Investment Advisors LP increased its stake in shares of La-Z-Boy by 46.0% in the third quarter. Smith Graham & Co. Investment Advisors LP now owns 352,702 shares of the company’s stock worth $9,488,000 after buying an additional 111,183 shares during the last quarter. Institutional investors own 86.37% of the company’s stock.
In other La-Z-Boy news, insider John Douglas Collier sold 4,000 shares of La-Z-Boy stock in a transaction on Friday, December 29th. The shares were sold at an average price of $31.71, for a total value of $126,840.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Otis S. Sawyer sold 12,000 shares of La-Z-Boy stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $31.51, for a total transaction of $378,120.00. Following the completion of the transaction, the senior vice president now directly owns 60,238 shares of the company’s stock, valued at approximately $1,898,099.38. The disclosure for this sale can be found here. Insiders own 3.17% of the company’s stock.
A number of analysts recently issued reports on the stock. Stifel Nicolaus restated a “hold” rating on shares of La-Z-Boy in a research note on Friday, December 1st. ValuEngine upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. 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. Finally, 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $33.00.
La-Z-Boy Incorporated (LZB) opened at $31.50 on Tuesday. The company has a market cap of $1,485.77, a price-to-earnings ratio of 18.00 and a beta of 1.03. La-Z-Boy Incorporated has a 1-year low of $23.15 and a 1-year high of $34.25.
La-Z-Boy (NYSE:LZB) last released its quarterly earnings data on Wednesday, November 29th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $393.20 million during the quarter, compared to the consensus estimate of $390.03 million. La-Z-Boy had a net margin of 5.53% and a return on equity of 14.33%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.42 earnings per share. research analysts predict that La-Z-Boy Incorporated will post 1.78 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Monday, December 11th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Friday, December 8th. This is an increase from La-Z-Boy’s previous quarterly dividend of $0.11. La-Z-Boy’s payout ratio is currently 27.43%.
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La-Z-Boy Company Profile
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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