La-Z-Boy Incorporated (LZB) Stake Cut by Boston Private Wealth LLC
Boston Private Wealth LLC reduced its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 3.9% during the first quarter, Holdings Channel reports. The fund owned 14,277 shares of the company’s stock after selling 585 shares during the period. Boston Private Wealth LLC’s holdings in La-Z-Boy were worth $385,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of LZB. Norges Bank acquired a new stake in La-Z-Boy during the fourth quarter worth $28,181,000. Silvercrest Asset Management Group LLC boosted its stake in La-Z-Boy by 12.2% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 2,370,720 shares of the company’s stock worth $73,611,000 after buying an additional 257,951 shares during the last quarter. Opus Capital Group LLC boosted its stake in La-Z-Boy by 2,233.5% in the first quarter. Opus Capital Group LLC now owns 257,291 shares of the company’s stock worth $6,947,000 after buying an additional 246,265 shares during the last quarter. Numeric Investors LLC boosted its stake in La-Z-Boy by 122.8% in the fourth quarter. Numeric Investors LLC now owns 429,405 shares of the company’s stock worth $13,333,000 after buying an additional 236,707 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in La-Z-Boy by 43.2% in the first quarter. Prudential Financial Inc. now owns 704,240 shares of the company’s stock worth $19,014,000 after buying an additional 212,620 shares during the last quarter. 87.94% of the stock is currently owned by institutional investors and hedge funds.
La-Z-Boy Incorporated (LZB) traded down 1.85% during trading on Wednesday, reaching $26.50. 696,927 shares of the company’s stock were exchanged. The firm has a market cap of $1.29 billion, a P/E ratio of 16.55 and a beta of 0.89. La-Z-Boy Incorporated has a 52-week low of $22.09 and a 52-week high of $32.90. The stock’s 50 day moving average price is $27.75 and its 200 day moving average price is $28.52.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be paid a $0.11 dividend. The ex-dividend date is Tuesday, May 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.66%. La-Z-Boy’s payout ratio is currently 27.85%.
A number of analysts recently weighed in on LZB shares. Zacks Investment Research cut shares of La-Z-Boy from a “hold” rating to a “sell” rating in a research note on Wednesday, April 12th. Stifel Nicolaus cut shares of La-Z-Boy from a “buy” rating to a “hold” rating and lowered their target price for the company from $33.00 to $30.00 in a research note on Wednesday, February 22nd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $29.67.
La-Z-Boy Company Profile
La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstery furniture products. The Company also imports, distributes and retails accessories and casegoods (wood) furniture products. The Company’s segments include the Upholstery segment, the Casegoods segment and the Retail segment.
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