Key Points
- La-Z-Boy VP Raphaell Richmond sold 13,671 shares on June 29 at an average price of $39.83, totaling about $544,516. After the sale, Richmond still held 51,695 shares, a 20.91% reduction in the position.
- The company recently posted stronger-than-expected quarterly results, reporting EPS of $1.26 versus consensus estimates of $0.82. Revenue came in at $570.34 million, roughly in line with expectations.
- La-Z-Boy also maintains a dividend and has mixed Wall Street sentiment, with a quarterly payout of $0.242 per share and a 2.4% yield. Analysts currently rate the stock a “Moderate Buy” overall, with a consensus target price of $39.00.
La-Z-Boy Incorporated (NYSE:LZB - Get Free Report) VP Raphaell Richmond sold 13,671 shares of La-Z-Boy stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $39.83, for a total value of $544,515.93. Following the transaction, the vice president owned 51,695 shares of the company's stock, valued at $2,059,011.85. This trade represents a 20.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
La-Z-Boy Stock Performance
Shares of LZB opened at $40.11 on Wednesday. The firm has a market capitalization of $1.60 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.22 and a beta of 1.26. La-Z-Boy Incorporated has a 52 week low of $29.03 and a 52 week high of $44.90. The stock has a 50 day moving average price of $37.02 and a two-hundred day moving average price of $36.47.
La-Z-Boy (NYSE:LZB - Get Free Report) last posted its earnings results 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 company had revenue of $570.34 million for the quarter, compared to analyst estimates of $569.23 million. During the same quarter last year, the company earned $0.36 earnings per share. The company's revenue for the quarter was down .1% on a year-over-year basis. On average, equities analysts forecast that La-Z-Boy Incorporated will post 2.98 earnings per share for the current year.
La-Z-Boy Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd were paid a $0.242 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.97 annualized dividend and a dividend yield of 2.4%. La-Z-Boy's dividend payout ratio is presently 39.27%.
Institutional Trading of La-Z-Boy
Hedge funds have recently bought and sold shares of the business. American Century Companies Inc. increased its stake in shares of La-Z-Boy by 7.2% during the 3rd quarter. American Century Companies Inc. now owns 1,434,642 shares of the company's stock worth $49,237,000 after purchasing an additional 95,737 shares during the last quarter. Vanguard Group Inc. lifted its stake in La-Z-Boy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 4,814,114 shares of the company's stock valued at $179,422,000 after purchasing an additional 38,513 shares during the last quarter. CSM Advisors LLC purchased a new position in La-Z-Boy in the third quarter valued at approximately $3,958,000. M&T Bank Corp bought a new position in La-Z-Boy during the fourth quarter valued at $18,433,000. Finally, Rafferty Asset Management LLC increased its position in La-Z-Boy by 124.0% in the third quarter. Rafferty Asset Management LLC now owns 32,576 shares of the company's stock worth $1,118,000 after buying an additional 18,031 shares during the last quarter. 99.62% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. Weiss Ratings raised shares of La-Z-Boy from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, June 17th. Wall Street Zen downgraded shares of La-Z-Boy from a "buy" rating to a "hold" rating in a research report on Saturday. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $39.00.
Read 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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