La-Z-Boy (NYSE:LZB) CAO Sells $138,446.00 in Stock

La-Z-Boy Incorporated (NYSE:LZB) CAO Jennifer Lynn Mccurry sold 3,410 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $40.60, for a total transaction of $138,446.00. Following the completion of the transaction, the chief accounting officer directly owned 15,453 shares of the company’s stock, valued at $627,391.80. This trade represents a 18.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

La-Z-Boy Price Performance

Shares of NYSE LZB opened at $40.74 on Friday. The stock has a market capitalization of $1.63 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26. La-Z-Boy Incorporated has a 1-year low of $29.03 and a 1-year high of $44.90. The business has a fifty day moving average price of $36.68 and a 200 day moving average price of $36.43.

La-Z-Boy (NYSE:LZB) last issued its quarterly earnings data on Tuesday, June 16th. The company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.44. La-Z-Boy had a return on equity of 11.97% and a net margin of 4.80%.The company had revenue of $570.34 million for the quarter, compared to the consensus estimate of $569.23 million. During the same quarter last year, the company earned $0.36 earnings per share. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities research analysts anticipate that La-Z-Boy Incorporated will post 2.98 earnings per share for the current fiscal year.

La-Z-Boy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd were issued a $0.242 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Tuesday, June 2nd. La-Z-Boy’s dividend payout ratio (DPR) is currently 39.27%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Weiss Ratings upgraded shares of La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Wall Street Zen upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. Three research 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 has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Institutional Investors Weigh In On La-Z-Boy

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP increased its holdings in shares of La-Z-Boy by 4,785.7% during the fourth quarter. Quarry LP now owns 684 shares of the company’s stock valued at $25,000 after acquiring an additional 670 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of La-Z-Boy by 290.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock valued at $33,000 after purchasing an additional 670 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in La-Z-Boy by 99.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock worth $42,000 after purchasing an additional 567 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in La-Z-Boy by 159.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company’s stock worth $43,000 after purchasing an additional 713 shares in the last quarter. Finally, TD Private Client Wealth LLC purchased a new stake in La-Z-Boy during the 4th quarter worth approximately $45,000. 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.