William Blair Investment Management LLC Has $45.71 Million Stock Position in La-Z-Boy Incorporated (NYSE:LZB)

William Blair Investment Management LLC reduced its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 0.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,214,995 shares of the company’s stock after selling 1,846 shares during the quarter. William Blair Investment Management LLC owned 2.85% of La-Z-Boy worth $45,708,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in LZB. International Assets Investment Management LLC purchased a new position in La-Z-Boy during the fourth quarter worth about $35,000. Allspring Global Investments Holdings LLC purchased a new position in La-Z-Boy during the first quarter worth about $70,000. Vest Financial LLC purchased a new position in La-Z-Boy during the fourth quarter worth about $241,000. PFG Advisors boosted its holdings in La-Z-Boy by 23.5% during the first quarter. PFG Advisors now owns 8,445 shares of the company’s stock worth $318,000 after purchasing an additional 1,607 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in La-Z-Boy by 7.4% during the first quarter. ProShare Advisors LLC now owns 8,742 shares of the company’s stock worth $329,000 after purchasing an additional 599 shares during the last quarter. 99.62% of the stock is currently owned by institutional investors and hedge funds.

La-Z-Boy Stock Up 1.1 %

La-Z-Boy stock traded up $0.46 during midday trading on Wednesday, hitting $42.65. 477,128 shares of the stock were exchanged, compared to its average volume of 427,015. La-Z-Boy Incorporated has a 52-week low of $27.92 and a 52-week high of $43.06. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 15.07 and a beta of 1.29. The business’s 50-day moving average price is $36.87 and its 200-day moving average price is $36.20.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings results on Tuesday, June 18th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.25. The business had revenue of $553.54 million for the quarter, compared to analysts’ expectations of $516.44 million. La-Z-Boy had a net margin of 5.99% and a return on equity of 13.10%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.99 earnings per share. On average, sell-side analysts predict that La-Z-Boy Incorporated will post 3.13 earnings per share for the current fiscal year.

La-Z-Boy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, June 4th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Tuesday, June 4th. La-Z-Boy’s dividend payout ratio is 28.27%.

La-Z-Boy Profile

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States, Canada, and internationally. It operates through Wholesale, Retail, Corporate and Other segments. The Wholesale segment manufactures, and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas; and imports, distributes, and retails casegoods (wood) furniture, including occasional pieces, bedroom sets, dining room sets, entertainment centers, and occasional pieces.