Arizona State Retirement System boosted its stake in shares of La-Z-Boy Incorporated (NYSE:LZB) by 6.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 72,122 shares of the company’s stock after acquiring an additional 4,396 shares during the period. Arizona State Retirement System owned about 0.15% of La-Z-Boy worth $1,999,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. Meeder Asset Management Inc. raised its position in La-Z-Boy by 44.9% during the fourth quarter. Meeder Asset Management Inc. now owns 4,111 shares of the company’s stock worth $114,000 after acquiring an additional 1,274 shares during the period. Stone Ridge Asset Management LLC raised its position in La-Z-Boy by 5.7% during the third quarter. Stone Ridge Asset Management LLC now owns 33,187 shares of the company’s stock worth $1,049,000 after acquiring an additional 1,786 shares during the period. Teachers Advisors LLC raised its position in La-Z-Boy by 2.4% during the third quarter. Teachers Advisors LLC now owns 94,319 shares of the company’s stock worth $2,980,000 after acquiring an additional 2,190 shares during the period. Tower Research Capital LLC TRC raised its position in La-Z-Boy by 805.5% during the third quarter. Tower Research Capital LLC TRC now owns 3,622 shares of the company’s stock worth $114,000 after acquiring an additional 3,222 shares during the period. Finally, BlueMountain Capital Management LLC raised its position in La-Z-Boy by 20.8% during the third quarter. BlueMountain Capital Management LLC now owns 19,316 shares of the company’s stock worth $610,000 after acquiring an additional 3,323 shares during the period. Institutional investors own 92.47% of the company’s stock.
A number of research firms have weighed in on LZB. Zacks Investment Research upgraded shares of La-Z-Boy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 27th. Sidoti upgraded shares of La-Z-Boy from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Monday, December 17th.
Shares of NYSE LZB opened at $30.44 on Thursday. The stock has a market capitalization of $1.36 billion, a PE ratio of 16.82 and a beta of 0.85. La-Z-Boy Incorporated has a 52 week low of $25.30 and a 52 week high of $39.15.
La-Z-Boy (NYSE:LZB) last issued its earnings results on Wednesday, November 28th. The company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.05. The business had revenue of $439.30 million during the quarter, compared to analysts’ expectations of $434.04 million. La-Z-Boy had a net margin of 5.11% and a return on equity of 15.07%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 earnings per share. Sell-side analysts anticipate that La-Z-Boy Incorporated will post 2.11 EPS for the current fiscal year.
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 Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.
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