SG Americas Securities LLC Makes New Investment in La-Z-Boy Incorporated $LZB

SG Americas Securities LLC purchased a new position in shares of La-Z-Boy Incorporated (NYSE:LZB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 21,323 shares of the company’s stock, valued at approximately $732,000. SG Americas Securities LLC owned approximately 0.05% of La-Z-Boy as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC increased its stake in La-Z-Boy by 116.9% in the 2nd quarter. GAMMA Investing LLC now owns 746 shares of the company’s stock valued at $28,000 after buying an additional 402 shares during the last quarter. EverSource Wealth Advisors LLC increased its position 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 valued at $33,000 after acquiring an additional 670 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in La-Z-Boy by 99.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock worth $42,000 after acquiring an additional 567 shares in the last quarter. TD Private Client Wealth LLC boosted its position in La-Z-Boy by 38.3% during the second quarter. TD Private Client Wealth LLC now owns 1,874 shares of the company’s stock valued at $70,000 after purchasing an additional 519 shares during the last quarter. Finally, MTM Investment Management LLC bought a new position in La-Z-Boy in the second quarter valued at approximately $133,000. Institutional investors own 99.62% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Zacks Research cut La-Z-Boy from a “strong-buy” rating to a “hold” rating in a research note on Monday. Sidoti raised shares of La-Z-Boy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $36.00 to $39.00 in a research report on Wednesday, November 19th. KeyCorp reissued an “overweight” rating on shares of La-Z-Boy in a research report on Wednesday, December 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of La-Z-Boy in a report on Monday, December 22nd. Finally, Needham & Company LLC reiterated a “buy” rating on shares of La-Z-Boy in a report on Wednesday, December 17th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.50.

La-Z-Boy Stock Performance

NYSE LZB opened at $39.56 on Thursday. La-Z-Boy Incorporated has a 52-week low of $29.03 and a 52-week high of $48.31. The stock has a market cap of $1.63 billion, a PE ratio of 18.14 and a beta of 1.27. The firm has a 50-day moving average of $37.87 and a 200-day moving average of $36.10.

La-Z-Boy (NYSE:LZB) last issued its quarterly earnings data on Tuesday, November 18th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.17. La-Z-Boy had a net margin of 4.29% and a return on equity of 11.19%. The firm had revenue of $522.48 million during the quarter, compared to the consensus estimate of $517.63 million. During the same period last year, the business posted $0.71 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, analysts predict that La-Z-Boy Incorporated will post 2.99 EPS for the current fiscal year.

La-Z-Boy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Thursday, December 4th were given a $0.242 dividend. The ex-dividend date of this dividend was Thursday, December 4th. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.22. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.4%. La-Z-Boy’s dividend payout ratio (DPR) is presently 44.50%.

About La-Z-Boy

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.