La-Z-Boy Incorporated (LZB) Shares Sold by Comerica Bank
Comerica Bank lowered its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 8.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,298 shares of the company’s stock after selling 4,429 shares during the quarter. Comerica Bank owned approximately 0.10% of La-Z-Boy worth $1,291,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. Bruderman Asset Management LLC bought a new position in shares of La-Z-Boy during the 2nd quarter worth approximately $115,000. Cozad Asset Management Inc. bought a new position in shares of La-Z-Boy during the 2nd quarter worth approximately $214,000. NumerixS Investment Technologies Inc raised its stake in shares of La-Z-Boy by 46.4% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 7,259 shares of the company’s stock worth $224,000 after acquiring an additional 2,300 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of La-Z-Boy during the 2nd quarter worth approximately $249,000. Finally, Asset Advisors Investment Management LLC bought a new position in shares of La-Z-Boy during the 3rd quarter worth approximately $288,000. Institutional investors and hedge funds own 90.74% of the company’s stock.
LZB has been the subject of several recent analyst reports. ValuEngine upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. Zacks Investment Research raised shares of La-Z-Boy from a “sell” rating to a “hold” rating and set a $33.00 target price on the stock in a research report on Tuesday. Finally, Stifel Nicolaus boosted their target price on shares of La-Z-Boy from $33.00 to $35.00 and gave the stock a “hold” rating in a research report on Thursday, August 23rd.
La-Z-Boy (NYSE:LZB) last released its earnings results on Wednesday, November 28th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.05. The company had revenue of $439.30 million for the quarter, compared to the consensus estimate of $434.04 million. La-Z-Boy had a net margin of 5.11% and a return on equity of 15.07%. La-Z-Boy’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 EPS. As a group, equities analysts expect that La-Z-Boy Incorporated will post 2.11 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Monday, December 10th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Friday, December 7th. This is an increase from La-Z-Boy’s previous quarterly dividend of $0.12. La-Z-Boy’s payout ratio is currently 26.52%.
In other La-Z-Boy news, insider John Douglas Collier sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $31.66, for a total transaction of $158,300.00. Following the sale, the insider now owns 75,070 shares of the company’s stock, valued at approximately $2,376,716.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.55% of the stock is currently owned by insiders.
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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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