La-Z-Boy Incorporated (NYSE:LZB) Director Sells $159,062.10 in Stock

La-Z-Boy Incorporated (NYSE:LZB) Director Janet Kerr sold 3,890 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $40.89, for a total value of $159,062.10. Following the completion of the transaction, the director now directly owns 3,372 shares in the company, valued at $137,881.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

La-Z-Boy Trading Up 0.7 %

Shares of NYSE LZB opened at $40.47 on Friday. La-Z-Boy Incorporated has a 12-month low of $27.92 and a 12-month high of $45.23. The company has a market cap of $1.70 billion, a P/E ratio of 14.30 and a beta of 1.29. The stock has a fifty day moving average price of $40.82 and a 200 day moving average price of $37.56.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings results on Tuesday, August 20th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. La-Z-Boy had a return on equity of 12.90% and a net margin of 5.89%. The firm had revenue of $495.50 million during the quarter, compared to the consensus estimate of $482.23 million. During the same period in the prior year, the firm earned $0.62 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, sell-side analysts forecast that La-Z-Boy Incorporated will post 2.98 EPS for the current fiscal year.

La-Z-Boy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, September 5th will be issued a $0.20 dividend. The ex-dividend date is Thursday, September 5th. This represents a $0.80 annualized dividend and a yield of 1.98%. La-Z-Boy’s dividend payout ratio is currently 28.27%.

Wall Street Analyst Weigh In

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

Institutional Trading of La-Z-Boy

Several large investors have recently added to or reduced their stakes in LZB. Quarry LP grew its stake in shares of La-Z-Boy by 2,550.0% during the second quarter. Quarry LP now owns 1,378 shares of the company’s stock valued at $51,000 after acquiring an additional 1,326 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of La-Z-Boy during the second quarter valued at about $63,000. Innealta Capital LLC acquired a new stake in shares of La-Z-Boy during the second quarter valued at about $69,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of La-Z-Boy during the first quarter valued at about $70,000. Finally, Quest Partners LLC acquired a new stake in shares of La-Z-Boy during the second quarter valued at about $91,000. 99.62% of the stock is currently owned by institutional investors and hedge funds.

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.