La-Z-Boy Incorporated (NYSE:LZB – Get Free Report) VP Raphaell Richmond sold 13,671 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $39.83, for a total transaction of $544,515.93. Following the transaction, the vice president directly owned 51,695 shares of the company’s stock, valued at $2,059,011.85. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
La-Z-Boy Stock Performance
LZB traded up $0.16 during trading on Tuesday, reaching $40.11. The company’s stock had a trading volume of 514,478 shares, compared to its average volume of 479,477. La-Z-Boy Incorporated has a 52-week low of $29.03 and a 52-week high of $44.90. The company’s fifty day moving average price is $36.93 and its 200-day moving average price is $36.46. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26.
La-Z-Boy (NYSE:LZB – Get Free Report) last issued its earnings results on Tuesday, June 16th. The company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.44. The business had revenue of $570.34 million during the quarter, compared to the consensus estimate of $569.23 million. La-Z-Boy had a return on equity of 11.97% and a net margin of 4.80%.The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 EPS. Equities analysts predict that La-Z-Boy Incorporated will post 2.98 earnings per share for the current year.
La-Z-Boy Announces Dividend
Analyst Ratings Changes
A number of equities research analysts have commented on LZB shares. Wall Street Zen downgraded La-Z-Boy from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings raised shares of La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.
Get Our Latest Stock Analysis on LZB
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. grew its stake in La-Z-Boy by 7.2% in the 3rd quarter. American Century Companies Inc. now owns 1,434,642 shares of the company’s stock valued at $49,237,000 after acquiring an additional 95,737 shares during the last quarter. Vanguard Group Inc. raised its position in La-Z-Boy by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 4,814,114 shares of the company’s stock worth $179,422,000 after acquiring an additional 38,513 shares during the last quarter. CSM Advisors LLC purchased a new stake in shares of La-Z-Boy in the third quarter valued at about $3,958,000. M&T Bank Corp purchased a new stake in shares of La-Z-Boy in the fourth quarter valued at about $18,433,000. Finally, Rafferty Asset Management LLC grew its position in shares of La-Z-Boy by 124.0% in the third quarter. Rafferty Asset Management LLC now owns 32,576 shares of the company’s stock valued at $1,118,000 after purchasing an additional 18,031 shares during the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.
About La-Z-Boy
La-Z-Boy Incorporated (NYSE: LZB) is a leading U.S. manufacturer and marketer of residential furniture, best known for its upholstered recliners, sofas, stationary chairs and sleeper sofas. The company offers a broad range of products in both fabric and leather, complemented by occasional tables, desks, lamps and other home furnishings through its branded retail network.
Founded in 1927 by cousins Edward Knabusch and Edwin Shoemaker in Monroe, Michigan, La-Z-Boy pioneered the modern reclining chair.
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