Royce & Associates LP Boosts Stock Holdings in La-Z-Boy Incorporated $LZB

Royce & Associates LP boosted its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 53.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,139 shares of the company’s stock after purchasing an additional 15,712 shares during the period. Royce & Associates LP owned about 0.11% of La-Z-Boy worth $1,682,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LZB. Vanguard Group Inc. lifted its stake in La-Z-Boy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 4,814,114 shares of the company’s stock worth $179,422,000 after acquiring an additional 38,513 shares during the period. Franklin Resources Inc. boosted its position in La-Z-Boy by 208.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,492,928 shares of the company’s stock valued at $51,237,000 after acquiring an additional 1,009,428 shares in the last quarter. LSV Asset Management boosted its position in La-Z-Boy by 0.8% during the 4th quarter. LSV Asset Management now owns 1,476,882 shares of the company’s stock valued at $55,043,000 after acquiring an additional 11,983 shares in the last quarter. American Century Companies Inc. boosted its position in La-Z-Boy by 7.2% during the 3rd quarter. American Century Companies Inc. now owns 1,434,642 shares of the company’s stock valued at $49,237,000 after acquiring an additional 95,737 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in La-Z-Boy by 7.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,391,236 shares of the company’s stock valued at $47,747,000 after acquiring an additional 100,416 shares in the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.

Analyst Upgrades and Downgrades

LZB has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of La-Z-Boy in a research report on Monday, May 18th. Wall Street Zen raised La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, La-Z-Boy currently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

La-Z-Boy Stock Performance

La-Z-Boy stock opened at $37.63 on Friday. The stock’s 50 day simple moving average is $34.48 and its two-hundred day simple moving average is $36.09. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 18.63 and a beta of 1.25. La-Z-Boy Incorporated has a fifty-two week low of $29.03 and a fifty-two week high of $42.44.

La-Z-Boy Dividend Announcement

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

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.