Sei Investments Co. Purchases 47,626 Shares of La-Z-Boy Incorporated $LZB

Sei Investments Co. increased its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 69.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,124 shares of the company’s stock after buying an additional 47,626 shares during the period. Sei Investments Co. owned about 0.28% of La-Z-Boy worth $3,732,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP grew its holdings in La-Z-Boy by 4,785.7% during the 4th quarter. Quarry LP now owns 684 shares of the company’s stock worth $25,000 after acquiring an additional 670 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of La-Z-Boy by 290.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock valued at $33,000 after purchasing an additional 670 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of La-Z-Boy by 99.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock worth $42,000 after purchasing an additional 567 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of La-Z-Boy by 159.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company’s stock worth $43,000 after purchasing an additional 713 shares during the period. Finally, TD Private Client Wealth LLC bought a new position in shares of La-Z-Boy during the fourth quarter valued at approximately $45,000. 99.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LZB. Weiss Ratings raised shares of La-Z-Boy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Wall Street Zen upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a report on Sunday, July 5th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.00.

La-Z-Boy Stock Performance

Shares of La-Z-Boy stock opened at $40.63 on Friday. The company has a market capitalization of $1.63 billion, a PE ratio of 16.45, a P/E/G ratio of 1.27 and a beta of 1.27. The company has a 50-day simple moving average of $39.24 and a two-hundred day simple moving average of $36.73. La-Z-Boy Incorporated has a one year low of $29.03 and a one year high of $44.90.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings results on Tuesday, June 16th. The company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.44. The business had revenue of $570.34 million for 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 company’s revenue was down .1% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. On average, equities analysts predict that La-Z-Boy Incorporated will post 2.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other La-Z-Boy news, SVP Michael Adam Leggett sold 9,000 shares of La-Z-Boy stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $41.66, for a total value of $374,940.00. Following the transaction, the senior vice president directly owned 47,551 shares of the company’s stock, valued at approximately $1,980,974.66. The trade was a 15.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Melinda D. Whittington sold 7,364 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $40.00, for a total value of $294,560.00. Following the transaction, the chief executive officer directly owned 415,061 shares in the company, valued at approximately $16,602,440. The trade was a 1.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 66,299 shares of company stock valued at $2,677,491 over the last quarter. Insiders own 3.12% of the company’s stock.

La-Z-Boy 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.