La-Z-Boy Incorporated (NYSE:LZB) SVP Otis S. Sawyer sold 12,000 shares of the firm’s stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $31.51, for a total value of $378,120.00. Following the sale, the senior vice president now owns 60,238 shares in the company, valued at approximately $1,898,099.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

La-Z-Boy Incorporated (NYSE:LZB) opened at $31.30 on Wednesday. La-Z-Boy Incorporated has a fifty-two week low of $23.15 and a fifty-two week high of $34.25. The firm has a market capitalization of $1,476.31, a price-to-earnings ratio of 17.89 and a beta of 1.03.

La-Z-Boy (NYSE:LZB) last issued its earnings results on Wednesday, November 29th. The company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. La-Z-Boy had a return on equity of 14.33% and a net margin of 5.53%. The firm had revenue of $393.20 million for the quarter, compared to analysts’ expectations of $390.03 million. During the same quarter last year, the firm earned $0.42 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. research analysts expect that La-Z-Boy Incorporated will post 1.74 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Monday, December 11th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, December 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.53%. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.11. La-Z-Boy’s dividend payout ratio (DPR) is presently 27.43%.

A number of institutional investors have recently modified their holdings of LZB. Toronto Dominion Bank acquired a new position in La-Z-Boy in the third quarter valued at $135,000. Ameritas Investment Partners Inc. boosted its holdings in La-Z-Boy by 7.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,240 shares of the company’s stock valued at $138,000 after acquiring an additional 290 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in La-Z-Boy by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,999 shares of the company’s stock valued at $162,000 after acquiring an additional 747 shares during the last quarter. Amalgamated Bank acquired a new position in La-Z-Boy in the second quarter valued at $217,000. Finally, Airain ltd acquired a new position in La-Z-Boy in the second quarter valued at $244,000. Hedge funds and other institutional investors own 86.37% of the company’s stock.

Several equities research analysts have recently issued reports on LZB shares. ValuEngine upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. Zacks Investment Research upgraded La-Z-Boy from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 25th. KeyCorp restated a “buy” rating and set a $36.00 price objective on shares of La-Z-Boy in a report on Friday, November 10th. Finally, Stifel Nicolaus restated a “hold” rating on shares of La-Z-Boy in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. La-Z-Boy currently has an average rating of “Hold” and a consensus target price of $33.00.

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La-Z-Boy Company Profile

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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