Pacer Advisors Inc. Grows Position in La-Z-Boy Incorporated $LZB

Pacer Advisors Inc. grew its position in La-Z-Boy Incorporated (NYSE:LZB) by 49.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 182,698 shares of the company’s stock after acquiring an additional 60,518 shares during the quarter. Pacer Advisors Inc. owned 0.45% of La-Z-Boy worth $5,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Franklin Resources Inc. boosted its position in shares of La-Z-Boy by 208.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,492,928 shares of the company’s stock valued at $51,237,000 after acquiring an additional 1,009,428 shares during the last quarter. M&T Bank Corp bought a new stake in La-Z-Boy in the fourth quarter worth $18,433,000. Goldman Sachs Group Inc. increased its position in La-Z-Boy by 100.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 627,638 shares of the company’s stock worth $23,392,000 after purchasing an additional 313,932 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in La-Z-Boy by 46.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 895,003 shares of the company’s stock valued at $33,357,000 after purchasing an additional 283,364 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in La-Z-Boy by 64.5% during the second quarter. Qube Research & Technologies Ltd now owns 391,470 shares of the company’s stock valued at $14,551,000 after purchasing an additional 153,498 shares in the last quarter. 99.62% of the stock is owned by hedge funds and other institutional investors.

La-Z-Boy Stock Down 0.7%

NYSE LZB opened at $41.43 on Thursday. La-Z-Boy Incorporated has a 52 week low of $29.03 and a 52 week high of $44.90. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.27 and a beta of 1.27. The company has a fifty day moving average of $39.19 and a two-hundred day moving average of $36.72.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at La-Z-Boy

In other La-Z-Boy news, CEO Melinda D. Whittington sold 26,639 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $40.24, for a total transaction of $1,071,953.36. Following the completion of the transaction, the chief executive officer owned 316,038 shares in the company, valued at $12,717,369.12. The trade was a 7.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael Adam Leggett sold 9,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $41.66, for a total value of $374,940.00. Following the completion of the sale, the senior vice president owned 47,551 shares in the company, valued at approximately $1,980,974.66. The trade was a 15.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 66,299 shares of company stock valued at $2,677,491. 3.12% of the stock is owned by company insiders.

La-Z-Boy 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.