La-Z-Boy (NYSE:LZB) CAO Sells $138,446.00 in Stock

La-Z-Boy Incorporated (NYSE:LZB) CAO Jennifer Lynn Mccurry sold 3,410 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $40.60, for a total value of $138,446.00. Following the sale, the chief accounting officer owned 15,453 shares of the company’s stock, valued at approximately $627,391.80. This trade represents a 18.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

La-Z-Boy Stock Up 0.3%

Shares of NYSE LZB traded up $0.13 during midday trading on Tuesday, hitting $40.12. The stock had a trading volume of 778,369 shares, compared to its average volume of 456,111. The company has a market capitalization of $1.60 billion, a PE ratio of 16.24, a P/E/G ratio of 1.21 and a beta of 1.26. The stock has a 50 day simple moving average of $36.25 and a 200-day simple moving average of $36.40. La-Z-Boy Incorporated has a 1 year low of $29.03 and a 1 year high of $44.90.

La-Z-Boy (NYSE:LZB) last issued its quarterly earnings results on Tuesday, June 16th. The company reported $1.26 EPS for the quarter, topping the consensus estimate of $0.82 by $0.44. La-Z-Boy had a return on equity of 11.97% and a net margin of 4.80%.The firm had revenue of $570.34 million during the quarter, compared to analysts’ expectations of $569.23 million. During the same period in the previous year, the business earned $0.36 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. As a group, analysts expect that La-Z-Boy Incorporated will post 2.98 earnings per share for the current fiscal year.

La-Z-Boy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, June 2nd were given a dividend of $0.242 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $0.97 dividend on an annualized basis and a yield of 2.4%. La-Z-Boy’s payout ratio is presently 39.27%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LZB. Wall Street Zen raised shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. Weiss Ratings raised La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, La-Z-Boy presently has an average rating of “Moderate Buy” and an average price target of $39.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. raised its position in La-Z-Boy by 3.5% in the second quarter. Osaic Holdings Inc. now owns 9,258 shares of the company’s stock valued at $344,000 after purchasing an additional 310 shares during the period. Raymond James Financial Inc. raised its holdings in La-Z-Boy by 2.3% in the 3rd quarter. Raymond James Financial Inc. now owns 14,703 shares of the company’s stock valued at $505,000 after buying an additional 336 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in La-Z-Boy by 0.3% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 110,619 shares of the company’s stock valued at $4,126,000 after buying an additional 363 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its position in La-Z-Boy by 1.8% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 20,666 shares of the company’s stock valued at $770,000 after buying an additional 374 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in La-Z-Boy by 5.1% during the first quarter. PNC Financial Services Group Inc. now owns 7,827 shares of the company’s stock worth $252,000 after buying an additional 379 shares during the period. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

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.