La-Z-Boy Incorporated (NYSE:LZB) Position Reduced by AlphaQuest LLC

AlphaQuest LLC reduced its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,421 shares of the company’s stock after selling 416 shares during the quarter. AlphaQuest LLC’s holdings in La-Z-Boy were worth $498,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Weiss Asset Management LP acquired a new stake in shares of La-Z-Boy in the third quarter valued at $5,988,000. abrdn plc boosted its stake in La-Z-Boy by 38.1% during the fourth quarter. abrdn plc now owns 347,589 shares of the company’s stock valued at $15,148,000 after buying an additional 95,812 shares in the last quarter. Wellington Management Group LLP bought a new position in La-Z-Boy during the third quarter valued at about $3,177,000. Allspring Global Investments Holdings LLC boosted its stake in La-Z-Boy by 67.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 143,949 shares of the company’s stock valued at $6,272,000 after buying an additional 58,146 shares in the last quarter. Finally, Barclays PLC boosted its stake in La-Z-Boy by 244.6% during the third quarter. Barclays PLC now owns 75,256 shares of the company’s stock valued at $3,230,000 after buying an additional 53,419 shares in the last quarter. 99.62% of the stock is currently owned by institutional investors and hedge funds.

La-Z-Boy Stock Down 2.1 %

Shares of LZB stock opened at $39.78 on Thursday. The stock has a 50-day simple moving average of $44.66 and a 200 day simple moving average of $42.99. La-Z-Boy Incorporated has a fifty-two week low of $32.00 and a fifty-two week high of $48.31. The stock has a market capitalization of $1.64 billion, a P/E ratio of 13.67 and a beta of 1.38.

La-Z-Boy (NYSE:LZB) last announced its earnings results on Tuesday, February 18th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. La-Z-Boy had a return on equity of 12.38% and a net margin of 5.92%. The business had revenue of $521.78 million during the quarter, compared to analysts’ expectations of $516.47 million. On average, sell-side analysts anticipate that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.

La-Z-Boy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be given a $0.22 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.21%. La-Z-Boy’s dividend payout ratio (DPR) is 30.24%.

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.