Monroe Bank & Trust MI lifted its stake in shares of La-Z-Boy Incorporated (NYSE:LZB) by 30.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 91,820 shares of the company’s stock after buying an additional 21,282 shares during the quarter. La-Z-Boy accounts for approximately 1.0% of Monroe Bank & Trust MI’s holdings, making the stock its 19th largest holding. Monroe Bank & Trust MI owned about 0.19% of La-Z-Boy worth $2,851,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. SG Americas Securities LLC raised its holdings in shares of La-Z-Boy by 31.1% during the 3rd quarter. SG Americas Securities LLC now owns 16,117 shares of the company’s stock valued at $434,000 after buying an additional 3,827 shares during the period. Quantbot Technologies LP purchased a new stake in La-Z-Boy during the 3rd quarter worth approximately $791,000. Russell Investments Group Ltd. increased its holdings in La-Z-Boy by 24.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 63,591 shares of the company’s stock worth $1,711,000 after purchasing an additional 12,392 shares during the last quarter. Rhumbline Advisers increased its holdings in La-Z-Boy by 19.4% during the 3rd quarter. Rhumbline Advisers now owns 120,582 shares of the company’s stock worth $3,244,000 after purchasing an additional 19,585 shares during the last quarter. Finally, Toronto Dominion Bank purchased a new stake in La-Z-Boy during the 3rd quarter worth approximately $135,000. Institutional investors and hedge funds own 84.25% of the company’s stock.
Shares of La-Z-Boy Incorporated (LZB) opened at $32.00 on Friday. La-Z-Boy Incorporated has a twelve month low of $23.15 and a twelve month high of $34.25. The firm has a market capitalization of $1,520.00, a P/E ratio of 18.40 and a beta of 1.03.
La-Z-Boy (NYSE:LZB) last issued its quarterly earnings results on Wednesday, November 29th. The company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. La-Z-Boy had a return on equity of 14.33% and a net margin of 5.53%. The business had revenue of $393.20 million during the quarter, compared to the consensus estimate of $390.03 million. During the same period in the previous year, the business earned $0.42 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. sell-side analysts expect that La-Z-Boy Incorporated will post 1.74 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Monday, December 11th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.50%. This is an increase from La-Z-Boy’s previous quarterly dividend of $0.11. The ex-dividend date is Friday, December 8th. La-Z-Boy’s payout ratio is 25.29%.
Several equities research analysts have issued reports on LZB shares. Stifel Nicolaus dropped their price objective on La-Z-Boy from $30.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, August 24th. Zacks Investment Research upgraded La-Z-Boy from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 25th. BidaskClub downgraded La-Z-Boy from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. KeyCorp restated a “buy” rating and set a $36.00 price objective on shares of La-Z-Boy in a report on Friday, November 10th. Finally, ValuEngine upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a report on Thursday, November 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $33.00.
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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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