Key Points
- La-Z-Boy CAO Jennifer Lynn Mccurry sold 3,715 shares on June 25 at an average price of $41.05, totaling about $152,500.75. After the sale, she still held 16,763 shares, a decrease of 18.14% in her ownership.
- The sale follows another insider sale earlier in the month, when Mccurry sold 3,410 shares on June 18 at an average price of $40.60.
- La-Z-Boy recently beat earnings expectations, reporting $1.26 EPS versus the $0.82 consensus, while revenue came in slightly above estimates at $570.34 million. The company also paid a quarterly dividend of $0.242 per share, implying a 2.4% annualized yield.
La-Z-Boy Incorporated (NYSE:LZB - Get Free Report) CAO Jennifer Lynn Mccurry sold 3,715 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $41.05, for a total value of $152,500.75. Following the sale, the chief accounting officer owned 16,763 shares of the company's stock, valued at $688,121.15. This represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Jennifer Lynn Mccurry also recently made the following trade(s):
- On Thursday, June 18th, Jennifer Lynn Mccurry sold 3,410 shares of La-Z-Boy stock. The stock was sold at an average price of $40.60, for a total value of $138,446.00.
La-Z-Boy Price Performance
Shares of La-Z-Boy stock opened at $41.14 on Friday. La-Z-Boy Incorporated has a one year low of $29.03 and a one year high of $44.90. The business's 50 day simple moving average is $36.82 and its two-hundred day simple moving average is $36.47. The stock has a market capitalization of $1.64 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26.
La-Z-Boy (NYSE:LZB - Get Free Report) last released its quarterly earnings data on Tuesday, June 16th. The company reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.44. La-Z-Boy had a return on equity of 11.97% and a net margin of 4.80%.The firm had revenue of $570.34 million during the quarter, compared to analyst estimates of $569.23 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The business's quarterly revenue was down .1% compared to the same quarter last year. Sell-side analysts expect that La-Z-Boy Incorporated will post 2.98 earnings per share for the current fiscal year.
La-Z-Boy Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd were given a dividend of $0.242 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.97 annualized dividend and a yield of 2.4%. La-Z-Boy's dividend payout ratio is presently 39.27%.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of La-Z-Boy by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 4,814,114 shares of the company's stock worth $179,422,000 after purchasing an additional 38,513 shares during the period. Dimensional Fund Advisors LP increased its position in shares of La-Z-Boy by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,694,255 shares of the company's stock valued at $86,594,000 after buying an additional 38,870 shares during the period. Franklin Resources Inc. raised its stake in La-Z-Boy by 24.0% in the fourth quarter. Franklin Resources Inc. now owns 1,851,873 shares of the company's stock worth $69,019,000 after buying an additional 358,945 shares in the last quarter. LSV Asset Management raised its stake in La-Z-Boy by 0.8% in the fourth quarter. LSV Asset Management now owns 1,476,882 shares of the company's stock worth $55,043,000 after buying an additional 11,983 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in La-Z-Boy by 7.2% in the third quarter. American Century Companies Inc. now owns 1,434,642 shares of the company's stock worth $49,237,000 after buying an additional 95,737 shares during the period. 99.62% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on LZB shares. Weiss Ratings raised shares of La-Z-Boy from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, June 17th. Wall Street Zen cut La-Z-Boy from a "buy" rating to a "hold" rating in a research note on Saturday. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $39.00.
Get Our Latest Stock Analysis on La-Z-Boy
La-Z-Boy Company Profile
(
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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