McIlrath & Eck LLC Sells 486 Shares of La-Z-Boy Incorporated (NYSE:LZB)

McIlrath & Eck LLC trimmed its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 19.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,075 shares of the company’s stock after selling 486 shares during the quarter. McIlrath & Eck LLC’s holdings in La-Z-Boy were worth $77,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. SummerHaven Investment Management LLC lifted its position in La-Z-Boy by 1.2% in the fourth quarter. SummerHaven Investment Management LLC now owns 24,649 shares of the company’s stock worth $910,000 after purchasing an additional 302 shares during the period. WINTON GROUP Ltd lifted its position in shares of La-Z-Boy by 7.9% during the 3rd quarter. WINTON GROUP Ltd now owns 11,826 shares of the company’s stock worth $365,000 after buying an additional 870 shares during the period. International Assets Investment Management LLC acquired a new stake in La-Z-Boy in the 4th quarter valued at $35,000. Teacher Retirement System of Texas raised its stake in La-Z-Boy by 10.3% during the third quarter. Teacher Retirement System of Texas now owns 13,508 shares of the company’s stock worth $417,000 after acquiring an additional 1,256 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of La-Z-Boy by 1.4% in the 3rd quarter. Swiss National Bank now owns 95,200 shares of the company’s stock worth $2,940,000 after purchasing an additional 1,300 shares during the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.

La-Z-Boy Price Performance

Shares of NYSE:LZB traded up $0.07 during midday trading on Thursday, reaching $32.78. The company’s stock had a trading volume of 55,845 shares, compared to its average volume of 380,546. The business’s fifty day simple moving average is $35.66 and its 200-day simple moving average 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. The company has a market capitalization of $1.40 billion, a P/E ratio of 12.07 and a beta of 1.19.

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

La-Z-Boy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a $0.20 dividend. The ex-dividend date was Monday, March 4th. This represents a $0.80 dividend on an annualized basis and a yield of 2.44%. La-Z-Boy’s payout ratio is 29.52%.

Insider Activity

In other La-Z-Boy news, SVP Michael Adam Leggett sold 3,077 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $37.08, for a total transaction of $114,095.16. Following the completion of the sale, the senior vice president now directly owns 21,519 shares of the company’s stock, valued at approximately $797,924.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About La-Z-Boy

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.