La-Z-Boy Inc. (LZB) Insider John Douglas Collier Sells 26,874 Shares of Stock
La-Z-Boy Inc. (NYSE:LZB) insider John Douglas Collier sold 26,874 shares of La-Z-Boy stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $26.17, for a total transaction of $703,292.58. Following the completion of the sale, the insider now directly owns 98,849 shares of the company’s stock, valued at $2,586,878.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of La-Z-Boy Inc. (NYSE:LZB) opened at 25.91 on Wednesday. The stock’s 50 day moving average is $27.53 and its 200 day moving average is $27.12. La-Z-Boy Inc. has a 52 week low of $19.56 and a 52 week high of $31.22. The stock has a market capitalization of $1.27 billion, a PE ratio of 16.58 and a beta of 1.35.
La-Z-Boy (NYSE:LZB) last released its earnings results on Tuesday, August 23rd. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by $0.01. La-Z-Boy had a net margin of 5.21% and a return on equity of 15.01%. The business had revenue of $340.80 million for the quarter, compared to analyst estimates of $358.79 million. During the same period in the prior year, the company earned $0.27 earnings per share. The firm’s revenue for the quarter was down .2% on a year-over-year basis. Analysts anticipate that La-Z-Boy Inc. will post $1.71 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, September 2nd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.54%. The ex-dividend date was Wednesday, August 31st. La-Z-Boy’s dividend payout ratio is presently 25.48%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP raised its stake in La-Z-Boy by 270.7% in the second quarter. Quantbot Technologies LP now owns 3,726 shares of the company’s stock valued at $103,000 after buying an additional 2,721 shares in the last quarter. BlackRock Inc. raised its stake in La-Z-Boy by 135.1% in the first quarter. BlackRock Inc. now owns 4,021 shares of the company’s stock valued at $108,000 after buying an additional 2,311 shares in the last quarter. Gray Financial Group GA ADV ADV acquired a new stake in La-Z-Boy during the second quarter valued at approximately $155,000. PineBridge Investments L.P. raised its stake in La-Z-Boy by 3.8% in the second quarter. PineBridge Investments L.P. now owns 6,327 shares of the company’s stock valued at $176,000 after buying an additional 231 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in La-Z-Boy by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 7,017 shares of the company’s stock valued at $195,000 after buying an additional 842 shares in the last quarter. 86.05% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently issued reports on the stock. Zacks Investment Research raised shares of La-Z-Boy from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. Longbow Research assumed coverage on shares of La-Z-Boy in a research note on Friday, August 5th. They set a “neutral” rating for the company.
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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