NWQ Investment Management Company LLC lowered its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 9.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,438 shares of the company’s stock after selling 12,942 shares during the period. NWQ Investment Management Company LLC owned approximately 0.26% of La-Z-Boy worth $3,374,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Boston Partners purchased a new position in shares of La-Z-Boy during the second quarter valued at approximately $24,774,000. JPMorgan Chase & Co. increased its stake in La-Z-Boy by 154.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 472,830 shares of the company’s stock worth $15,367,000 after buying an additional 286,854 shares during the period. Marshall Wace North America L.P. increased its stake in La-Z-Boy by 639.8% in the 2nd quarter. Marshall Wace North America L.P. now owns 310,138 shares of the company’s stock worth $10,235,000 after buying an additional 268,214 shares during the period. American Century Companies Inc. purchased a new position in La-Z-Boy in the 3rd quarter worth about $5,875,000. Finally, Ameriprise Financial Inc. increased its stake in La-Z-Boy by 28.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 634,811 shares of the company’s stock worth $20,633,000 after buying an additional 140,951 shares during the period. 84.25% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently commented on the stock. Stifel Nicolaus reaffirmed a “hold” rating on shares of La-Z-Boy in a research note on Friday, December 1st. ValuEngine raised shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. KeyCorp reaffirmed a “buy” rating and issued a $36.00 price target on shares of La-Z-Boy in a research note on Friday, November 10th. Zacks Investment Research raised shares of La-Z-Boy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 25th. Finally, BidaskClub cut shares of La-Z-Boy from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $33.00.
La-Z-Boy (NYSE:LZB) last issued its earnings results on Wednesday, November 29th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. La-Z-Boy had a net margin of 5.53% and a return on equity of 14.33%. The company had revenue of $393.20 million for the quarter, compared to analysts’ expectations of $390.03 million. During the same period in the prior year, the business earned $0.42 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. equities analysts expect that La-Z-Boy Incorporated will post 1.74 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Monday, December 11th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.52%. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Friday, December 8th. La-Z-Boy’s dividend payout ratio is presently 25.14%.
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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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