Numeric Investors LLC acquired a new stake in La-Z-Boy Incorporated (NYSE:LZB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 30,100 shares of the company’s stock, valued at approximately $978,000. Numeric Investors LLC owned 0.06% of La-Z-Boy as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in LZB. Ameritas Investment Partners Inc. acquired a new position in La-Z-Boy in the 1st quarter valued at $107,000. Point72 Asia Hong Kong Ltd acquired a new position in La-Z-Boy in the 1st quarter valued at $110,000. Victory Capital Management Inc. increased its stake in La-Z-Boy by 39.6% in the 1st quarter. Victory Capital Management Inc. now owns 4,252 shares of the company’s stock valued at $115,000 after buying an additional 1,206 shares during the period. First Quadrant L P CA acquired a new position in La-Z-Boy in the 2nd quarter valued at $167,000. Finally, Miles Capital Inc. increased its stake in La-Z-Boy by 0.3% in the 1st quarter. Miles Capital Inc. now owns 7,835 shares of the company’s stock valued at $212,000 after buying an additional 21 shares during the period. 86.78% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on LZB shares. BidaskClub cut shares of La-Z-Boy from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. Stifel Nicolaus dropped their price objective on shares of La-Z-Boy from $30.00 to $27.00 and set a “hold” rating on the stock in a research note on Thursday, August 24th. Sidoti cut shares of La-Z-Boy from a “buy” rating to a “neutral” rating and set a $36.00 price objective on the stock. in a research note on Tuesday, August 1st. Finally, Zacks Investment Research cut shares of La-Z-Boy from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. La-Z-Boy currently has a consensus rating of “Hold” and an average target price of $31.50.
La-Z-Boy Incorporated (NYSE LZB) opened at 26.95 on Thursday. The stock’s 50 day moving average is $25.50 and its 200-day moving average is $28.48. La-Z-Boy Incorporated has a 1-year low of $22.09 and a 1-year high of $34.10. The firm has a market capitalization of $1.30 billion, a PE ratio of 15.92 and a beta of 0.89.
La-Z-Boy (NYSE:LZB) last issued its quarterly earnings results on Tuesday, August 22nd. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The business had revenue of $357.10 million for the quarter, compared to analyst estimates of $359.34 million. La-Z-Boy had a net margin of 5.45% and a return on equity of 14.18%. La-Z-Boy’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the business posted $0.28 earnings per share. Equities research analysts forecast that La-Z-Boy Incorporated will post $1.73 EPS for the current year.
La-Z-Boy announced that its Board of Directors has approved a share buyback program on Tuesday, June 20th that allows the company to buyback 6,000,000 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 8th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Thursday, September 7th. La-Z-Boy’s payout ratio is currently 25.88%.
La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstery furniture products. The Company also imports, distributes and retails accessories and casegoods (wood) furniture products. The Company’s segments include the Upholstery segment, the Casegoods segment and the Retail segment.
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