La-Z-Boy Incorporated (NYSE:LZB) Director Janet Kerr Sells 3,890 Shares

La-Z-Boy Incorporated (NYSE:LZB) Director Janet Kerr sold 3,890 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $40.89, for a total value of $159,062.10. Following the completion of the transaction, the director now owns 3,372 shares in the company, valued at approximately $137,881.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

La-Z-Boy Trading Up 0.7 %

NYSE LZB opened at $40.47 on Friday. The business’s 50 day moving average is $40.82 and its two-hundred day moving average is $37.56. La-Z-Boy Incorporated has a 12-month low of $27.92 and a 12-month high of $45.23. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 14.30 and a beta of 1.29.

La-Z-Boy (NYSE:LZB) last released its earnings results on Tuesday, August 20th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. La-Z-Boy had a return on equity of 12.90% and a net margin of 5.89%. The company had revenue of $495.50 million for the quarter, compared to analysts’ expectations of $482.23 million. During the same quarter in the previous year, the firm posted $0.62 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. Equities analysts forecast that La-Z-Boy Incorporated will post 2.98 earnings per share for the current fiscal year.

La-Z-Boy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, September 5th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, September 5th. La-Z-Boy’s dividend payout ratio is currently 28.27%.

Analysts Set New Price Targets

Separately, Sidoti cut La-Z-Boy from a “buy” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research report on Wednesday, August 21st.

Institutional Investors Weigh In On La-Z-Boy

Institutional investors and hedge funds have recently modified their holdings of the company. Allianz Asset Management GmbH grew its holdings in shares of La-Z-Boy by 34.9% in the 4th quarter. Allianz Asset Management GmbH now owns 167,776 shares of the company’s stock worth $6,194,000 after acquiring an additional 43,404 shares during the period. Quantbot Technologies LP acquired a new stake in shares of La-Z-Boy in the 1st quarter worth approximately $1,077,000. Dimensional Fund Advisors LP grew its holdings in shares of La-Z-Boy by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,184,810 shares of the company’s stock worth $117,584,000 after acquiring an additional 35,961 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of La-Z-Boy by 4.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,436 shares of the company’s stock worth $2,425,000 after acquiring an additional 2,717 shares during the period. Finally, Schroder Investment Management Group grew its holdings in shares of La-Z-Boy by 1.3% in the 4th quarter. Schroder Investment Management Group now owns 692,004 shares of the company’s stock worth $25,549,000 after acquiring an additional 8,722 shares during the period. Institutional investors and hedge funds own 99.62% of the company’s stock.

About La-Z-Boy

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States, Canada, and internationally. It operates through Wholesale, Retail, Corporate and Other segments. The Wholesale segment manufactures, and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas; and imports, distributes, and retails casegoods (wood) furniture, including occasional pieces, bedroom sets, dining room sets, entertainment centers, and occasional pieces.