Raphaell Richmond Sells 13,671 Shares of La-Z-Boy (NYSE:LZB) Stock

La-Z-Boy Incorporated (NYSE:LZB) VP Raphaell Richmond sold 13,671 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $39.83, for a total value of $544,515.93. Following the sale, the vice president owned 51,695 shares of the company’s stock, valued at $2,059,011.85. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

La-Z-Boy Price Performance

La-Z-Boy stock opened at $39.76 on Thursday. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 1.23 and a beta of 1.25. La-Z-Boy Incorporated has a 12 month low of $29.03 and a 12 month high of $44.90. The stock’s 50-day moving average is $37.09 and its 200-day moving average is $36.47.

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

La-Z-Boy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd were paid a dividend of $0.242 per share. This represents a $0.97 annualized dividend and a yield of 2.4%. The ex-dividend date was Tuesday, June 2nd. La-Z-Boy’s payout ratio is currently 39.27%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LZB shares. 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. Wall Street Zen downgraded La-Z-Boy from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. 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, La-Z-Boy has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Quarry LP grew its holdings 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. EverSource Wealth Advisors LLC lifted its holdings in 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 buying an additional 670 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in 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 buying an additional 567 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in 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 buying an additional 713 shares during the last quarter. Finally, TD Private Client Wealth LLC acquired a new stake in shares of La-Z-Boy during the fourth quarter valued at about $45,000. 99.62% of the stock is owned by institutional investors and hedge funds.

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.