La-Z-Boy Incorporated (NYSE:LZB) insider John Douglas Collier sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $31.66, for a total value of $158,300.00. Following the sale, the insider now directly owns 75,070 shares in the company, valued at approximately $2,376,716.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of LZB traded down $0.11 during trading hours on Friday, reaching $28.13. The stock had a trading volume of 433,559 shares, compared to its average volume of 381,968. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 15.54 and a beta of 1.01. La-Z-Boy Incorporated has a 12 month low of $25.90 and a 12 month high of $39.15.
La-Z-Boy (NYSE:LZB) last announced its earnings results on Tuesday, August 21st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.14. The business had revenue of $384.70 million during the quarter, compared to analyst estimates of $368.17 million. La-Z-Boy had a return on equity of 15.33% and a net margin of 5.43%. La-Z-Boy’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $0.24 EPS. On average, research analysts anticipate that La-Z-Boy Incorporated will post 2.02 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, September 7th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Thursday, September 6th. La-Z-Boy’s dividend payout ratio is currently 26.52%.
A number of large investors have recently made changes to their positions in the stock. Swiss National Bank raised its position in shares of La-Z-Boy by 4.2% in the 1st quarter. Swiss National Bank now owns 83,800 shares of the company’s stock worth $2,510,000 after acquiring an additional 3,400 shares in the last quarter. SG Americas Securities LLC raised its position in shares of La-Z-Boy by 71.2% in the 2nd quarter. SG Americas Securities LLC now owns 27,695 shares of the company’s stock worth $847,000 after acquiring an additional 11,517 shares in the last quarter. UBS Group AG raised its position in shares of La-Z-Boy by 15.6% in the 1st quarter. UBS Group AG now owns 204,442 shares of the company’s stock worth $6,123,000 after acquiring an additional 27,611 shares in the last quarter. Employees Retirement System of Texas bought a new position in shares of La-Z-Boy in the 2nd quarter worth about $1,224,000. Finally, Citigroup Inc. raised its position in shares of La-Z-Boy by 17.0% in the 1st quarter. Citigroup Inc. now owns 33,313 shares of the company’s stock worth $998,000 after acquiring an additional 4,844 shares in the last quarter. 91.45% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the company. ValuEngine downgraded La-Z-Boy from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Zacks Investment Research upgraded La-Z-Boy from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. Finally, Stifel Nicolaus increased their price target on La-Z-Boy from $33.00 to $35.00 and gave the company a “hold” rating in a research note on Thursday, August 23rd.
La-Z-Boy Company Profile
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 Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.
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