Teton Advisors Inc. Trims Stock Position in La-Z-Boy Incorporated (NYSE:LZB)

Teton Advisors Inc. cut its stake in shares of La-Z-Boy Incorporated (NYSE:LZB) by 60.0% in the 4th quarter, Holdings Channel reports. The fund owned 8,000 shares of the company’s stock after selling 12,000 shares during the quarter. Teton Advisors Inc.’s holdings in La-Z-Boy were worth $295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Landscape Capital Management L.L.C. increased its position in La-Z-Boy by 86.8% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 43,135 shares of the company’s stock worth $1,332,000 after purchasing an additional 20,046 shares during the period. Phocas Financial Corp. increased its position in La-Z-Boy by 2.0% during the 4th quarter. Phocas Financial Corp. now owns 125,334 shares of the company’s stock worth $4,627,000 after purchasing an additional 2,411 shares during the period. Schroder Investment Management Group acquired a new position in La-Z-Boy during the 3rd quarter worth approximately $21,100,000. American Century Companies Inc. increased its position in La-Z-Boy by 22.7% during the 3rd quarter. American Century Companies Inc. now owns 588,258 shares of the company’s stock worth $18,165,000 after purchasing an additional 108,945 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in La-Z-Boy during the 3rd quarter worth approximately $251,000. 99.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Michael Adam Leggett sold 3,077 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $37.08, for a total value of $114,095.16. Following the sale, the senior vice president now owns 21,519 shares in the company, valued at approximately $797,924.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

La-Z-Boy Price Performance

NYSE LZB traded up $0.27 on Thursday, hitting $32.99. 467,690 shares of the company’s stock were exchanged, compared to its average volume of 385,559. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 12.17 and a beta of 1.19. The firm’s 50-day moving average price is $35.66 and its two-hundred day moving average price is $34.71. La-Z-Boy Incorporated has a fifty-two week low of $25.12 and a fifty-two week high of $39.87.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.08). The firm had revenue of $500.40 million during the quarter, compared to analyst estimates of $523.09 million. La-Z-Boy had a return on equity of 13.55% and a net margin of 5.73%. The business’s revenue was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. On average, research analysts predict that La-Z-Boy Incorporated will post 2.72 earnings per share for the current fiscal year.

La-Z-Boy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, June 4th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Tuesday, June 4th. La-Z-Boy’s dividend payout ratio is currently 29.52%.

Analyst Ratings Changes

Separately, StockNews.com cut La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th.

La-Z-Boy Profile

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 Wholesale, Retail, Corporate and Other segments. The Wholesale segment manufactures, and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas; and imports, distributes, and retails casegoods (wood) furniture, including occasional pieces, bedroom sets, dining room sets, entertainment centers, and occasional pieces.