Dimensional Fund Advisors LP increased its position in La-Z-Boy Incorporated (NYSE:LZB) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,016,649 shares of the company’s stock after buying an additional 18,264 shares during the period. Dimensional Fund Advisors LP owned about 6.21% of La-Z-Boy worth $98,040,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of LZB. BlackRock Inc. increased its stake in La-Z-Boy by 56,782.6% in the first quarter. BlackRock Inc. now owns 6,240,594 shares of the company’s stock valued at $168,497,000 after purchasing an additional 6,229,623 shares during the last quarter. Vanguard Group Inc. lifted its position in La-Z-Boy by 6.6% during the first quarter. Vanguard Group Inc. now owns 4,473,226 shares of the company’s stock worth $120,778,000 after buying an additional 275,811 shares during the period. Wellington Management Group LLP lifted its position in La-Z-Boy by 4.4% during the first quarter. Wellington Management Group LLP now owns 3,208,236 shares of the company’s stock worth $86,622,000 after buying an additional 134,284 shares during the period. Northern Trust Corp lifted its position in La-Z-Boy by 1.7% during the second quarter. Northern Trust Corp now owns 1,255,701 shares of the company’s stock worth $40,810,000 after buying an additional 20,775 shares during the period. Finally, State Street Corp lifted its position in La-Z-Boy by 4.1% during the first quarter. State Street Corp now owns 1,214,015 shares of the company’s stock worth $32,782,000 after buying an additional 47,777 shares during the period. 86.79% of the stock is owned by institutional investors and hedge funds.
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La-Z-Boy Incorporated (NYSE LZB) opened at 27.40 on Wednesday. The firm has a 50 day moving average of $26.22 and a 200-day moving average of $28.50. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 16.18 and a beta of 0.89. La-Z-Boy Incorporated has a one year low of $22.09 and a one year high of $34.10.
La-Z-Boy (NYSE:LZB) last issued its earnings results on Tuesday, August 22nd. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The business had revenue of $357.10 million during 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 quarter in the prior year, the company earned $0.28 EPS. Equities research analysts forecast that La-Z-Boy Incorporated will post $1.73 EPS for the current fiscal year.
The business also recently declared 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 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Thursday, September 7th. La-Z-Boy’s dividend payout ratio is currently 25.88%.
La-Z-Boy declared that its board has authorized a stock buyback plan on Tuesday, June 20th that authorizes the company to repurchase 6,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
A number of analysts have issued reports on the company. Zacks Investment Research raised La-Z-Boy from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Thursday, June 22nd. Stifel Nicolaus lowered their price target on La-Z-Boy from $30.00 to $27.00 and set a “hold” rating for the company in a report on Thursday, August 24th. Sidoti downgraded shares of La-Z-Boy from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research note on Tuesday, August 1st. Finally, BidaskClub downgraded shares of La-Z-Boy from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $31.75.
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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