La-Z-Boy (NYSE:LZB) Insider Terrence James Linz Sells 2,500 Shares

La-Z-Boy Incorporated (NYSE:LZB) insider Terrence James Linz sold 2,500 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $40.23, for a total transaction of $100,575.00. Following the transaction, the insider owned 64,383 shares of the company’s stock, valued at $2,590,128.09. This trade represents a 3.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

La-Z-Boy Price Performance

Shares of La-Z-Boy stock traded down $0.36 during trading hours on Wednesday, reaching $39.76. The company’s stock had a trading volume of 587,853 shares, compared to its average volume of 480,350. The firm has a 50 day moving average price of $37.02 and a 200-day moving average price of $36.47. The stock has a market cap of $1.59 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.22 and a beta of 1.26. La-Z-Boy Incorporated has a one year low of $29.03 and a one year high of $44.90.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings results 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 firm 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 earned $0.36 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, sell-side analysts forecast that La-Z-Boy Incorporated will post 2.98 EPS for the current fiscal year.

La-Z-Boy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd were issued a $0.242 dividend. The ex-dividend date 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 payout ratio is 39.27%.

Hedge Funds Weigh In On La-Z-Boy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP raised its holdings in shares of 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 in the last quarter. EverSource Wealth Advisors LLC increased its position in 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 period. Geneos Wealth Management Inc. raised its holdings 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 valued at $42,000 after purchasing an additional 567 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of La-Z-Boy by 159.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company’s stock valued at $43,000 after purchasing an additional 713 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position 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 worth $43,000 after purchasing an additional 1,221 shares during the period. Institutional investors own 99.62% of the company’s stock.

Wall Street Analyst Weigh In

LZB has been the topic of several recent research reports. Weiss Ratings upgraded La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Wall Street Zen lowered shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Saturday. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $39.00.

About La-Z-Boy

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.