WINTON GROUP Ltd Takes $3.90 Million Position in La-Z-Boy Incorporated $LZB

WINTON GROUP Ltd purchased a new stake in La-Z-Boy Incorporated (NYSE:LZB) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 97,117 shares of the company’s stock, valued at approximately $3,896,000. WINTON GROUP Ltd owned about 0.24% of La-Z-Boy at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP increased its stake in La-Z-Boy by 4,785.7% during the fourth quarter. Quarry LP now owns 684 shares of the company’s stock worth $25,000 after acquiring an additional 670 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of La-Z-Boy by 172.8% in the 2nd quarter. Versant Capital Management Inc now owns 652 shares of the company’s stock valued at $26,000 after purchasing an additional 413 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of La-Z-Boy in the 2nd quarter worth approximately $28,000. EverSource Wealth Advisors LLC increased its position in shares of La-Z-Boy by 290.0% during 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. Finally, Geneos Wealth Management Inc. raised its holdings 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 buying an additional 567 shares during the period. Hedge funds and other institutional investors own 99.62% of the company’s stock.

La-Z-Boy Trading Down 1.7%

Shares of LZB opened at $30.84 on Friday. The firm has a market capitalization of $1.24 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.06 and a beta of 1.23. La-Z-Boy Incorporated has a 12-month low of $29.03 and a 12-month high of $44.90. The firm has a fifty day moving average price of $37.57 and a 200-day moving average price of $36.28.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings results on Tuesday, August 18th. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). La-Z-Boy had a return on equity of 11.79% and a net margin of 3.86%.The company had revenue of $475.69 million during the quarter, compared to analysts’ expectations of $501.44 million. During the same period in the prior year, the business earned $0.47 EPS. The company’s quarterly revenue was down 3.4% on a year-over-year basis. Analysts predict that La-Z-Boy Incorporated will post 2.7 earnings per share for the current year.

La-Z-Boy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Thursday, September 3rd will be paid a $0.242 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Thursday, September 3rd. La-Z-Boy’s dividend payout ratio is currently 49.24%.

Analyst Upgrades and Downgrades

Several research analysts have commented on LZB shares. Zacks Research lowered shares of La-Z-Boy from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 20th. Wall Street Zen downgraded shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. KeyCorp lowered their target price on shares of La-Z-Boy from $46.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, August 20th. Finally, Weiss Ratings lowered shares of La-Z-Boy from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday, August 20th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, La-Z-Boy has an average rating of “Hold” and an average price target of $39.50.

Insider Buying and Selling at La-Z-Boy

In other news, Director Janet Kerr sold 3,653 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $31.75, for a total transaction of $115,982.75. Following the transaction, the director directly owned 4,125 shares of the company’s stock, valued at approximately $130,968.75. This trade represents a 46.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer Lynn Mccurry sold 3,715 shares of La-Z-Boy stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $41.05, for a total transaction of $152,500.75. Following the sale, the chief accounting officer directly owned 16,763 shares of the company’s stock, valued at $688,121.15. This represents a 18.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 69,952 shares of company stock valued at $2,793,474. 3.12% of the stock is owned by corporate 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.