La-Z-Boy (NYSE:LZB) CAO Sells $152,500.75 in Stock

La-Z-Boy Incorporated (NYSE:LZB) CAO Jennifer Lynn Mccurry sold 3,715 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $41.05, for a total transaction of $152,500.75. Following the completion of the sale, the chief accounting officer directly owned 16,763 shares in the company, valued at $688,121.15. This trade represents a 18.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Jennifer Lynn Mccurry also recently made the following trade(s):

• On Thursday, June 18th, Jennifer Lynn Mccurry sold 3,410 shares of La-Z-Boy stock. The stock was sold at an average price of $40.60, for a total transaction of $138,446.00.

La-Z-Boy Stock Up 0.8%

Shares of LZB traded up $0.34 during mid-day trading on Friday, reaching $41.14. 2,569,242 shares of the company’s stock were exchanged, compared to its average volume of 478,376. La-Z-Boy Incorporated has a 52-week low of $29.03 and a 52-week high of $44.90. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 1.28 and a beta of 1.26. The company has a 50-day simple moving average of $36.68 and a two-hundred day simple moving average of $36.43.

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

La-Z-Boy Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LZB. Osaic Holdings Inc. grew its position in shares of La-Z-Boy by 3.5% in the second quarter. Osaic Holdings Inc. now owns 9,258 shares of the company’s stock valued at $344,000 after purchasing an additional 310 shares during the period. Raymond James Financial Inc. boosted its stake in La-Z-Boy by 2.3% in the 3rd quarter. Raymond James Financial Inc. now owns 14,703 shares of the company’s stock worth $505,000 after buying an additional 336 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in La-Z-Boy by 0.3% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 110,619 shares of the company’s stock worth $4,126,000 after buying an additional 363 shares during the last quarter. Linden Thomas Advisory Services LLC grew its holdings in La-Z-Boy by 1.8% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 20,666 shares of the company’s stock valued at $770,000 after buying an additional 374 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in La-Z-Boy by 5.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,827 shares of the company’s stock valued at $252,000 after buying an additional 379 shares during the period. Hedge funds and other institutional investors own 99.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in 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, June 14th. Weiss Ratings upgraded shares of La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, La-Z-Boy presently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

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.