William Blair Investment Management LLC Purchases 83,149 Shares of La-Z-Boy Incorporated $LZB

William Blair Investment Management LLC boosted its position in La-Z-Boy Incorporated (NYSE:LZB) by 13.1% during the 4th quarter, Holdings Channel reports. The fund owned 719,246 shares of the company’s stock after buying an additional 83,149 shares during the period. William Blair Investment Management LLC’s holdings in La-Z-Boy were worth $26,806,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings in La-Z-Boy by 75.2% in the third quarter. Smartleaf Asset Management LLC now owns 755 shares of the company’s stock worth $26,000 after acquiring an additional 324 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of La-Z-Boy by 290.0% in 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 last quarter. Geneos Wealth Management Inc. raised its stake in shares of La-Z-Boy by 99.0% in 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 last quarter. TD Private Client Wealth LLC purchased a new stake in shares of La-Z-Boy in the fourth quarter worth approximately $45,000. Finally, CIBC Private Wealth Group LLC raised its stake in shares of La-Z-Boy by 3,130.8% in 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 last quarter. Institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Up 0.1%

Shares of La-Z-Boy stock opened at $36.68 on Tuesday. The company has a market cap of $1.50 billion, a PE ratio of 18.16 and a beta of 1.25. La-Z-Boy Incorporated has a 52 week low of $29.03 and a 52 week high of $43.27. The business has a 50 day moving average price of $34.13 and a 200-day moving average price of $35.95.

La-Z-Boy Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently commented on LZB shares. Wall Street Zen raised La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of La-Z-Boy in a research note on Monday, May 18th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, La-Z-Boy currently has an average rating of “Moderate Buy” and an average target price of $39.00.

La-Z-Boy Company Profile

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.