WINTON GROUP Ltd Acquires New Shares in La-Z-Boy Incorporated $LZB

WINTON GROUP Ltd acquired a new position in La-Z-Boy Incorporated (NYSE:LZB) in the second quarter, HoldingsChannel reports. The fund acquired 97,117 shares of the company’s stock, valued at approximately $3,896,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in La-Z-Boy during the 2nd quarter valued at about $265,535,000. Dimensional Fund Advisors LP lifted its position in shares of La-Z-Boy by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,694,255 shares of the company’s stock worth $86,594,000 after purchasing an additional 38,870 shares during the period. Franklin Resources Inc. lifted its position in shares of La-Z-Boy by 24.0% in the 4th quarter. Franklin Resources Inc. now owns 1,851,873 shares of the company’s stock worth $69,019,000 after purchasing an additional 358,945 shares during the period. California State Teachers Retirement System lifted its position in shares of La-Z-Boy by 4,483.9% in the 2nd quarter. California State Teachers Retirement System now owns 1,755,210 shares of the company’s stock worth $70,419,000 after purchasing an additional 1,716,919 shares during the period. Finally, LSV Asset Management boosted its stake in shares of La-Z-Boy by 0.8% during the fourth quarter. LSV Asset Management now owns 1,476,882 shares of the company’s stock valued at $55,043,000 after purchasing an additional 11,983 shares in the last quarter. 99.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LZB has been the topic of several research reports. Weiss Ratings lowered shares of La-Z-Boy from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday, August 20th. KeyCorp dropped their target price on La-Z-Boy from $46.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, August 20th. Zacks Research cut La-Z-Boy from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 20th. Finally, Wall Street Zen downgraded La-Z-Boy from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $39.50.

La-Z-Boy Price Performance

Shares of NYSE:LZB opened at $30.84 on Friday. The business’s 50-day moving average is $37.57 and its 200 day moving average is $36.28. La-Z-Boy Incorporated has a 1 year low of $29.03 and a 1 year high of $44.90. The firm has a market capitalization of $1.24 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.06 and a beta of 1.23.

La-Z-Boy (NYSE:LZB) last issued its quarterly earnings results on Tuesday, August 18th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). La-Z-Boy had a return on equity of 11.79% and a net margin of 3.86%.The business had revenue of $475.69 million for the quarter, compared to analysts’ expectations of $501.44 million. During the same quarter in the previous year, the firm posted $0.47 EPS. La-Z-Boy’s revenue was down 3.4% on a year-over-year basis. On average, analysts expect that La-Z-Boy Incorporated will post 2.7 EPS for the current year.

La-Z-Boy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Thursday, September 3rd will be given a dividend of $0.242 per share. This represents a $0.97 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Thursday, September 3rd. La-Z-Boy’s payout ratio is currently 49.24%.

Insider Buying and Selling at La-Z-Boy

In other La-Z-Boy news, VP Raphaell Z. Richmond sold 13,671 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $39.83, for a total transaction of $544,515.93. Following the transaction, the vice president owned 51,695 shares in the company, valued at approximately $2,059,011.85. This represents a 20.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Janet Kerr sold 3,653 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $31.75, for a total transaction of $115,982.75. Following the completion of the transaction, the director directly owned 4,125 shares of the company’s stock, valued at approximately $130,968.75. This represents a 46.97% decrease in their position. 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 have sold a total of 69,952 shares of company stock worth $2,793,474 in the last three months. 3.12% of the stock is owned by company insiders.

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.