La-Z-Boy Incorporated (LZB) Shares Sold by Nicholas Company Inc.
Nicholas Company Inc. cut its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 15.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 138,335 shares of the company’s stock after selling 25,895 shares during the quarter. Nicholas Company Inc. owned about 0.28% of La-Z-Boy worth $4,495,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of LZB. Strs Ohio lifted its holdings in shares of La-Z-Boy by 5.4% during the first quarter. Strs Ohio now owns 35,000 shares of the company’s stock worth $945,000 after buying an additional 1,800 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of La-Z-Boy by 3.0% during the first quarter. Wells Fargo & Company MN now owns 85,468 shares of the company’s stock worth $2,307,000 after buying an additional 2,515 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of La-Z-Boy by 7.1% during the first quarter. Great West Life Assurance Co. Can now owns 69,806 shares of the company’s stock worth $1,881,000 after buying an additional 4,626 shares during the last quarter. LSV Asset Management lifted its holdings in shares of La-Z-Boy by 92.0% during the first quarter. LSV Asset Management now owns 79,500 shares of the company’s stock worth $2,146,000 after buying an additional 38,100 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of La-Z-Boy by 5.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 56,210 shares of the company’s stock worth $1,518,000 after buying an additional 3,106 shares during the last quarter. Institutional investors own 86.79% of the company’s stock.
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In other La-Z-Boy news, Chairman Kurt L. Darrow sold 100,000 shares of La-Z-Boy stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $31.52, for a total value of $3,152,000.00. Following the completion of the transaction, the chairman now directly owns 531,773 shares of the company’s stock, valued at approximately $16,761,484.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Louis M. Riccio, Jr. sold 37,504 shares of La-Z-Boy stock in a transaction on Monday, June 26th. The shares were sold at an average price of $32.35, for a total value of $1,213,254.40. Following the completion of the transaction, the vice president now directly owns 123,354 shares of the company’s stock, valued at $3,990,501.90. The disclosure for this sale can be found here. 3.17% of the stock is owned by insiders.
La-Z-Boy Incorporated (NYSE:LZB) opened at 25.55 on Monday. La-Z-Boy Incorporated has a one year low of $22.09 and a one year high of $34.10. The stock’s 50 day moving average price is $28.49 and its 200-day moving average price is $28.56. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 15.09 and a beta of 0.88.
La-Z-Boy (NYSE:LZB) last announced its quarterly earnings data on Tuesday, August 22nd. The company reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.05). The company had revenue of $357.10 million during the quarter, compared to analyst estimates of $359.34 million. La-Z-Boy had a net margin of 5.45% and a return on equity of 14.18%. La-Z-Boy’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 earnings per share. On average, equities research analysts expect that La-Z-Boy Incorporated will post $1.73 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 8th were issued a $0.11 dividend. The ex-dividend date was Thursday, September 7th. This represents a $0.44 annualized dividend and a yield of 1.72%. La-Z-Boy’s dividend payout ratio is presently 25.88%.
La-Z-Boy declared that its Board of Directors has authorized a stock buyback plan on Tuesday, June 20th that authorizes the company to repurchase 6,000,000 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of research analysts have recently commented on LZB shares. Zacks Investment Research upgraded La-Z-Boy from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Thursday, June 22nd. Stifel Nicolaus cut their price target on La-Z-Boy from $30.00 to $27.00 and set a “hold” rating for the company in a report on Thursday, August 24th. Sidoti lowered La-Z-Boy from a “buy” rating to a “neutral” rating and set a $36.00 price target for the company. in a report on Tuesday, August 1st. Finally, BidaskClub lowered La-Z-Boy from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $31.75.
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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