SG Americas Securities LLC Raises Stake in La-Z-Boy Incorporated $LZB

SG Americas Securities LLC lifted its stake in La-Z-Boy Incorporated (NYSE:LZB) by 595.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,226 shares of the company’s stock after purchasing an additional 126,903 shares during the period. SG Americas Securities LLC’s holdings in La-Z-Boy were worth $5,524,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in La-Z-Boy by 3.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 8,675 shares of the company’s stock valued at $322,000 after buying an additional 274 shares during the period. Osaic Holdings Inc. increased its position in shares of La-Z-Boy by 3.5% during the second quarter. Osaic Holdings Inc. now owns 9,258 shares of the company’s stock worth $344,000 after acquiring an additional 310 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of La-Z-Boy by 75.2% during the third quarter. Smartleaf Asset Management LLC now owns 755 shares of the company’s stock valued at $26,000 after acquiring an additional 324 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in shares of La-Z-Boy by 2.3% in the third quarter. Raymond James Financial Inc. now owns 14,703 shares of the company’s stock valued at $505,000 after purchasing an additional 336 shares during the period. Finally, Amalgamated Bank boosted its holdings in shares of La-Z-Boy by 3.4% in the third quarter. Amalgamated Bank now owns 12,269 shares of the company’s stock valued at $421,000 after purchasing an additional 407 shares during the period. Institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Down 0.7%

Shares of NYSE:LZB opened at $31.91 on Thursday. The firm has a 50 day moving average of $35.47 and a 200 day moving average of $35.52. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 15.80 and a beta of 1.28. La-Z-Boy Incorporated has a 52 week low of $29.03 and a 52 week high of $44.49.

La-Z-Boy (NYSE:LZB) last announced its earnings results on Tuesday, February 17th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.02. The business had revenue of $541.59 million for the quarter, compared to analysts’ expectations of $535.47 million. La-Z-Boy had a return on equity of 10.79% and a net margin of 3.93%.The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 EPS. On average, sell-side analysts expect that La-Z-Boy Incorporated will post 2.99 EPS for the current year.

La-Z-Boy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd were paid a $0.242 dividend. This represents a $0.97 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, March 3rd. La-Z-Boy’s payout ratio is 48.02%.

Insider Buying and Selling

In other La-Z-Boy news, SVP Michael Adam Leggett sold 2,200 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $37.00, for a total value of $81,400.00. Following the completion of the transaction, the senior vice president directly owned 42,473 shares in the company, valued at approximately $1,571,501. The trade was a 4.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on LZB shares. Wall Street Zen upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. Zacks Research downgraded La-Z-Boy from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. KeyCorp restated an “overweight” rating on shares of La-Z-Boy in a research note on Wednesday, December 17th. Weiss Ratings restated a “hold (c)” rating on shares of La-Z-Boy in a report on Monday, December 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of La-Z-Boy in a research note on Wednesday, December 17th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $42.50.

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.