Glenmede Trust Co. NA Has $14.35 Million Holdings in La-Z-Boy Incorporated (NYSE:LZB)

Glenmede Trust Co. NA lessened its stake in La-Z-Boy Incorporated (NYSE:LZB) by 1.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 334,289 shares of the company’s stock after selling 4,116 shares during the quarter. Glenmede Trust Co. NA owned about 0.80% of La-Z-Boy worth $14,351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of LZB. abrdn plc acquired a new position in La-Z-Boy during the third quarter valued at approximately $10,809,000. American Century Companies Inc. boosted its position in La-Z-Boy by 14.5% during the second quarter. American Century Companies Inc. now owns 982,668 shares of the company’s stock valued at $36,634,000 after purchasing an additional 124,409 shares during the last quarter. Squarepoint Ops LLC increased its holdings in La-Z-Boy by 263.6% during the second quarter. Squarepoint Ops LLC now owns 150,617 shares of the company’s stock worth $5,615,000 after buying an additional 109,188 shares during the last quarter. Pacer Advisors Inc. increased its position in La-Z-Boy by 7.5% during the second quarter. Pacer Advisors Inc. now owns 1,394,677 shares of the company’s stock worth $51,994,000 after buying an additional 97,680 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of La-Z-Boy by 125.6% during the 2nd quarter. Millennium Management LLC now owns 174,249 shares of the company’s stock worth $6,496,000 after buying an additional 97,023 shares during the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.

La-Z-Boy Price Performance

Shares of LZB opened at $45.14 on Friday. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 15.62 and a beta of 1.29. La-Z-Boy Incorporated has a 1 year low of $30.76 and a 1 year high of $46.35. The business has a 50-day moving average of $41.42 and a 200-day moving average of $39.95.

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 issued a dividend of $0.22 per share. This is an increase from La-Z-Boy’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, December 5th. La-Z-Boy’s dividend payout ratio (DPR) is presently 27.68%.

Insider Transactions at La-Z-Boy

In other news, Director Janet Kerr sold 3,890 shares of the 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 transaction, the director now owns 3,372 shares of the company’s stock, valued at $137,881.08. This represents a 53.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

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

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.