Systematic Financial Management LP Acquires 26,009 Shares of La-Z-Boy Incorporated $LZB

Systematic Financial Management LP increased its stake in La-Z-Boy Incorporated (NYSE:LZB) by 4.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 591,840 shares of the company’s stock after purchasing an additional 26,009 shares during the period. Systematic Financial Management LP’s holdings in La-Z-Boy were worth $19,022,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Quarry LP boosted its stake in La-Z-Boy by 4,785.7% in the fourth quarter. Quarry LP now owns 684 shares of the company’s stock valued at $25,000 after acquiring an additional 670 shares during the last quarter. EverSource Wealth Advisors LLC boosted 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 worth $33,000 after purchasing an additional 670 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of 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 during the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of La-Z-Boy by 159.5% during the fourth 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 during the period. Finally, CIBC Private Wealth Group LLC increased its holdings in La-Z-Boy by 3,130.8% in the third quarter. CIBC Private Wealth Group LLC now owns 1,260 shares of the company’s stock valued at $43,000 after purchasing an additional 1,221 shares during the last quarter. 99.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a report on Sunday, July 5th. Weiss Ratings upgraded shares of La-Z-Boy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, La-Z-Boy currently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Insider Buying and Selling

In other La-Z-Boy news, insider Terrence James Linz sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $40.23, for a total value of $100,575.00. Following the completion of the transaction, the insider directly owned 64,383 shares in the company, valued at approximately $2,590,128.09. This represents a 3.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jennifer Lynn Mccurry sold 3,715 shares of La-Z-Boy stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $41.05, for a total value of $152,500.75. Following the completion of the transaction, the chief accounting officer directly owned 16,763 shares in the company, valued at approximately $688,121.15. This represents a 18.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 66,299 shares of company stock worth $2,677,491 in the last quarter. Corporate insiders own 3.12% of the company’s stock.

La-Z-Boy Stock Down 1.2%

Shares of LZB stock opened at $38.81 on Friday. The company’s fifty day simple moving average is $38.34 and its 200-day simple moving average is $36.59. La-Z-Boy Incorporated has a 12 month low of $29.03 and a 12 month high of $44.90. The firm has a market cap of $1.55 billion, a PE ratio of 15.71, a P/E/G ratio of 1.20 and a beta of 1.25.

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

La-Z-Boy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, June 2nd were given a dividend of $0.242 per share. This represents a $0.97 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Tuesday, June 2nd. La-Z-Boy’s dividend payout ratio is currently 39.27%.

La-Z-Boy Company Profile

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.