Jennifer Lynn Mccurry Sells 3,715 Shares of La-Z-Boy (NYSE:LZB) Stock

La-Z-Boy Incorporated (NYSE:LZB) CAO Jennifer Lynn Mccurry sold 3,715 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $41.05, for a total transaction of $152,500.75. Following the completion of the sale, the chief accounting officer owned 16,763 shares of the company’s stock, valued at approximately $688,121.15. The trade was a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Jennifer Lynn Mccurry also recently made the following trade(s):

• On Thursday, June 18th, Jennifer Lynn Mccurry sold 3,410 shares of La-Z-Boy stock. The stock was sold at an average price of $40.60, for a total transaction of $138,446.00.

La-Z-Boy Price Performance

NYSE:LZB traded up $0.34 during trading hours on Friday, reaching $41.14. 2,569,242 shares of the company were exchanged, compared to its average volume of 478,376. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 1.28 and a beta of 1.26. The stock has a 50 day simple moving average of $36.68 and a 200 day simple moving average of $36.43. La-Z-Boy Incorporated has a 52-week low of $29.03 and a 52-week high of $44.90.

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

La-Z-Boy Announces Dividend

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

Hedge Funds Weigh In On La-Z-Boy

Hedge funds have recently made changes to their positions in the business. American Century Companies Inc. lifted 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 worth $49,237,000 after acquiring an additional 95,737 shares in the last quarter. Vanguard Group Inc. grew its position 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 valued at $179,422,000 after acquiring an additional 38,513 shares in the last quarter. CSM Advisors LLC purchased a new stake in shares of La-Z-Boy during the third quarter valued at approximately $3,958,000. M&T Bank Corp purchased a new stake in shares of La-Z-Boy during the fourth quarter valued at approximately $18,433,000. Finally, Rafferty Asset Management LLC lifted its position in shares of La-Z-Boy by 124.0% during the third quarter. Rafferty Asset Management LLC now owns 32,576 shares of the company’s stock worth $1,118,000 after purchasing an additional 18,031 shares in the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LZB. Weiss Ratings upgraded La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Wall Street Zen upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a report on Sunday, June 14th. Three investment 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, the company presently has an average rating of “Moderate Buy” and an average price target of $39.00.

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.