Pacer Advisors Inc. Raises Holdings in La-Z-Boy Incorporated $LZB

Pacer Advisors Inc. increased its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 49.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 182,698 shares of the company’s stock after purchasing an additional 60,518 shares during the period. Pacer Advisors Inc.’s holdings in La-Z-Boy were worth $5,872,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Quarry LP boosted its stake in shares of La-Z-Boy by 4,785.7% during the fourth 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 grew its stake in shares of La-Z-Boy by 290.0% during the second quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock worth $33,000 after acquiring an additional 670 shares during the last quarter. Geneos Wealth Management Inc. increased its stake 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 purchasing an additional 567 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake 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 worth $43,000 after acquiring an additional 713 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of La-Z-Boy by 3,130.8% during the third 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. 99.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LZB shares. Weiss Ratings upgraded shares of La-Z-Boy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. Wall Street Zen upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Sunday, July 5th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, La-Z-Boy presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

La-Z-Boy Trading Down 0.7%

NYSE LZB opened at $41.43 on Thursday. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.27 and a beta of 1.27. The stock has a 50-day moving average of $39.19 and a 200 day moving average of $36.72. La-Z-Boy Incorporated has a twelve month low of $29.03 and a twelve month high of $44.90.

La-Z-Boy (NYSE:LZB) last issued its quarterly earnings data on Tuesday, June 16th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $0.82 by $0.44. The company 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 quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. Equities analysts predict that La-Z-Boy Incorporated will post 2.98 EPS for the current fiscal year.

Insider Activity

In other news, insider Terrence James Linz sold 2,500 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was 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 in the company, valued at $2,590,128.09. This trade represents a 3.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Melinda D. Whittington sold 26,639 shares of La-Z-Boy stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $40.24, for a total transaction of $1,071,953.36. Following the completion of the sale, the chief executive officer directly owned 316,038 shares in the company, valued at $12,717,369.12. This represents a 7.77% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 66,299 shares of company stock worth $2,677,491. Insiders own 3.12% 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.