Key Points
- SVP Michael Adam Leggett sold 2,200 shares on Feb. 20 at an average price of $37 for $81,400, reducing his stake by 4.92% to 42,473 shares (≈ $1.57M).
- La‑Z‑Boy beat quarterly expectations, reporting $0.61 EPS vs. $0.59 expected and revenue of $541.6M (up 3.8% year‑over‑year), with a net margin of 3.93% and ROE of 10.79%.
- Company payout and market view: La‑Z‑Boy declared a $0.242 quarterly dividend (annualized $0.97, yield ~2.7%, DPR ~48%); market cap is $1.44B, P/E 17.46, and analysts hold a "Moderate Buy" consensus with a $42.50 target.
La-Z-Boy Incorporated (NYSE:LZB - Get Free Report) SVP Michael Adam Leggett sold 2,200 shares of La-Z-Boy stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $37.00, for a total value of $81,400.00. Following the completion of the sale, the senior vice president owned 42,473 shares in the company, valued at approximately $1,571,501. The trade was a 4.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
La-Z-Boy Stock Performance
Shares of LZB stock opened at $35.27 on Tuesday. La-Z-Boy Incorporated has a fifty-two week low of $29.03 and a fifty-two week high of $46.72. The stock's fifty day moving average is $38.02 and its two-hundred day moving average is $36.05. The firm has a market capitalization of $1.44 billion, a P/E ratio of 17.46 and a beta of 1.27.
La-Z-Boy (NYSE:LZB - Get Free Report) last issued its earnings results on Tuesday, February 17th. The company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.02. La-Z-Boy had a net margin of 3.93% and a return on equity of 10.79%. The business had revenue of $541.59 million during the quarter, compared to analysts' expectations of $535.47 million. During the same period in the prior year, the business earned $0.68 earnings per share. The company's quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts forecast that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.
La-Z-Boy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be issued a $0.242 dividend. This represents a $0.97 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, March 3rd. La-Z-Boy's dividend payout ratio (DPR) is currently 48.02%.
Institutional Investors Weigh In On La-Z-Boy
Institutional investors have recently added to or reduced their stakes in the business. Vident Advisory LLC purchased a new position in shares of La-Z-Boy during the fourth quarter worth about $565,000. State of Tennessee Department of Treasury increased its stake in La-Z-Boy by 11.2% in the fourth quarter. State of Tennessee Department of Treasury now owns 26,240 shares of the company's stock valued at $955,000 after purchasing an additional 2,653 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in La-Z-Boy by 46.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 895,003 shares of the company's stock worth $33,357,000 after purchasing an additional 283,364 shares in the last quarter. XTX Topco Ltd acquired a new stake in La-Z-Boy during the 4th quarter valued at approximately $2,321,000. Finally, VARCOV Co. bought a new position in La-Z-Boy during the 4th quarter valued at $474,000. Hedge funds and other institutional investors own 99.62% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on LZB. KeyCorp reaffirmed an "overweight" rating on shares of La-Z-Boy in a research note on Wednesday, December 17th. Zacks Research cut La-Z-Boy from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 19th. Weiss Ratings restated a "hold (c)" rating on shares of La-Z-Boy in a report on Monday, December 22nd. Needham & Company LLC reaffirmed a "buy" rating on shares of La-Z-Boy in a research report on Wednesday, December 17th. Finally, Sidoti upgraded shares of La-Z-Boy from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $36.00 to $39.00 in a report on Wednesday, November 19th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $42.50.
Check Out Our Latest Report on LZB
About La-Z-Boy
(
Get Free Report)
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.
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