Landscape Capital Management L.L.C. Purchases 28,814 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Landscape Capital Management L.L.C. lifted its position in La-Z-Boy Incorporated (NYSE:LZB) by 46.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,143 shares of the company’s stock after buying an additional 28,814 shares during the period. Landscape Capital Management L.L.C.’s holdings in La-Z-Boy were worth $3,913,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in LZB. Sei Investments Co. raised its position in shares of La-Z-Boy by 26.6% during the first quarter. Sei Investments Co. now owns 15,309 shares of the company’s stock worth $576,000 after purchasing an additional 3,219 shares during the period. Russell Investments Group Ltd. lifted its stake in La-Z-Boy by 26.5% in the first quarter. Russell Investments Group Ltd. now owns 46,019 shares of the company’s stock valued at $1,731,000 after buying an additional 9,635 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of La-Z-Boy by 7.4% in the first quarter. ProShare Advisors LLC now owns 8,742 shares of the company’s stock valued at $329,000 after buying an additional 599 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of La-Z-Boy by 7.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 27,479 shares of the company’s stock worth $1,034,000 after acquiring an additional 1,975 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of La-Z-Boy by 0.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 36,639 shares of the company’s stock worth $1,379,000 after acquiring an additional 307 shares during the period. Institutional investors and hedge funds own 99.62% of the company’s stock.

Insider Transactions at La-Z-Boy

In other La-Z-Boy news, CAO Jennifer Lynn Mccurry sold 4,414 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.31, for a total transaction of $182,342.34. Following the sale, the chief accounting officer now directly owns 13,236 shares of the company’s stock, valued at approximately $546,779.16. This represents a 25.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Janet Kerr sold 3,890 shares of La-Z-Boy stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $40.89, for a total transaction of $159,062.10. Following the completion of the transaction, the director now directly owns 3,372 shares of the company’s stock, valued at approximately $137,881.08. This trade represents a 53.57 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Sidoti lowered shares of La-Z-Boy from a “buy” rating to a “neutral” rating and set a $43.00 target price for the company. in a research note on Wednesday, August 21st.

La-Z-Boy Stock Performance

Shares of La-Z-Boy stock opened at $42.77 on Thursday. The firm has a market cap of $1.79 billion, a PE ratio of 14.80 and a beta of 1.29. The business’s 50 day simple moving average is $41.18 and its 200 day simple moving average is $39.60. La-Z-Boy Incorporated has a 52-week low of $30.76 and a 52-week high of $45.23.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. La-Z-Boy had a net margin of 6.00% and a return on equity of 12.60%. The company had revenue of $495.50 million for the quarter, compared to the consensus estimate of $482.23 million. During the same period last year, the company earned $0.62 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts predict that La-Z-Boy Incorporated will post 2.98 EPS for the current year.

La-Z-Boy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, December 5th. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 2.06%. La-Z-Boy’s payout ratio is 27.68%.

La-Z-Boy Company 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.