La-Z-Boy (NYSE:LZB) SVP Sells $81,400.00 in Stock

La-Z-Boy Incorporated (NYSE:LZB) SVP Michael Adam Leggett sold 2,200 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $37.00, for a total value of $81,400.00. Following the transaction, the senior vice president owned 42,473 shares of the company’s stock, valued at approximately $1,571,501. The trade was a 4.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

La-Z-Boy Trading Up 1.8%

Shares of La-Z-Boy stock opened at $35.92 on Thursday. The firm has a market cap of $1.47 billion, a PE ratio of 17.78 and a beta of 1.27. The stock has a 50 day moving average of $37.86 and a 200 day moving average of $36.04. La-Z-Boy Incorporated has a 12 month low of $29.03 and a 12 month high of $46.72.

La-Z-Boy (NYSE:LZB) last posted its earnings results on Tuesday, February 17th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. La-Z-Boy had a return on equity of 10.79% and a net margin of 3.93%.The firm had revenue of $541.59 million during the quarter, compared to the consensus estimate of $535.47 million. During the same period in the prior year, the company earned $0.68 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts forecast that La-Z-Boy Incorporated will post 2.99 earnings per share for the current fiscal year.

La-Z-Boy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be given a $0.242 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $0.97 annualized dividend and a yield of 2.7%. La-Z-Boy’s dividend payout ratio (DPR) is currently 48.02%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on LZB shares. KeyCorp reiterated an “overweight” rating on shares of La-Z-Boy in a report on Wednesday, December 17th. Sidoti raised shares of La-Z-Boy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $36.00 to $39.00 in a research note on Wednesday, November 19th. Needham & Company LLC reiterated a “buy” rating on shares of La-Z-Boy in a research report on Wednesday, December 17th. Zacks Research lowered shares of La-Z-Boy from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of La-Z-Boy in a report on Monday, December 22nd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LZB. Quarry LP raised its position in La-Z-Boy by 4,785.7% during the 4th quarter. Quarry LP now owns 684 shares of the company’s stock valued at $25,000 after purchasing an additional 670 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of La-Z-Boy by 75.2% in the third quarter. Smartleaf Asset Management LLC now owns 755 shares of the company’s stock valued at $26,000 after acquiring an additional 324 shares in the last quarter. EverSource Wealth Advisors LLC lifted 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 period. Geneos Wealth Management Inc. boosted its position in La-Z-Boy by 99.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock valued at $42,000 after acquiring an additional 567 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of La-Z-Boy by 3,130.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,260 shares of the company’s stock valued at $43,000 after acquiring an additional 1,221 shares during the period. Institutional investors own 99.62% of the company’s stock.

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.