Metropolitan Life Insurance Co. NY decreased its position in La-Z-Boy Incorporated (NYSE:LZB) by 3.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 35,240 shares of the company’s stock after selling 1,134 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in La-Z-Boy were worth $1,094,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. BlackRock Fund Advisors increased its position in La-Z-Boy by 7.3% in the third quarter. BlackRock Fund Advisors now owns 3,420,418 shares of the company’s stock worth $84,005,000 after buying an additional 233,511 shares in the last quarter. Dimensional Fund Advisors LP increased its position in La-Z-Boy by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,943,288 shares of the company’s stock worth $91,391,000 after buying an additional 34,139 shares in the last quarter. Silvercrest Asset Management Group LLC increased its position 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 in the last quarter. State Street Corp increased its position in La-Z-Boy by 4.2% in the fourth quarter. State Street Corp now owns 1,166,238 shares of the company’s stock worth $36,216,000 after buying an additional 46,641 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in La-Z-Boy by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 742,381 shares of the company’s stock worth $18,232,000 after buying an additional 11,293 shares in the last quarter. Institutional investors own 87.94% of the company’s stock.
Shares of La-Z-Boy Incorporated (NYSE:LZB) opened at 27.70 on Monday. La-Z-Boy Incorporated has a one year low of $22.09 and a one year high of $32.90. The company has a market capitalization of $1.35 billion, a PE ratio of 17.30 and a beta of 0.89. The stock has a 50 day moving average of $27.87 and a 200-day moving average of $27.47.
La-Z-Boy (NYSE:LZB) last announced its earnings results on Tuesday, February 21st. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. La-Z-Boy had a net margin of 5.22% and a return on equity of 14.79%. The business earned $390 million during the quarter, compared to the consensus estimate of $392.84 million. During the same quarter last year, the firm earned $0.43 earnings per share. La-Z-Boy’s quarterly revenue was up 1.6% on a year-over-year basis. On average, equities analysts forecast that La-Z-Boy Incorporated will post $1.65 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Monday, March 6th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, March 2nd. La-Z-Boy’s dividend payout ratio is presently 27.85%.
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LZB has been the subject of a number of recent research reports. Raymond James Financial, Inc. restated a “market perform” rating on shares of La-Z-Boy in a research note on Thursday, January 5th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of La-Z-Boy from a “sell” rating to a “hold” rating in a research note on Wednesday, March 15th. Finally, Stifel Nicolaus downgraded shares of La-Z-Boy from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $33.00 to $30.00 in a research note on Wednesday, February 22nd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price 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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