Schroder Investment Management Group Trims Position in La-Z-Boy Incorporated (NYSE:LZB)

Schroder Investment Management Group lowered its position in La-Z-Boy Incorporated (NYSE:LZB) by 20.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 692,439 shares of the company’s stock after selling 173,871 shares during the quarter. Schroder Investment Management Group’s holdings in La-Z-Boy were worth $30,170,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LZB. Charles Schwab Investment Management Inc. grew its stake in shares of La-Z-Boy by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 801,140 shares of the company’s stock valued at $34,906,000 after buying an additional 22,168 shares during the period. Verity Asset Management Inc. purchased a new position in La-Z-Boy in the fourth quarter worth approximately $275,000. Rhumbline Advisers increased its stake in La-Z-Boy by 1.1% during the fourth quarter. Rhumbline Advisers now owns 160,292 shares of the company’s stock worth $6,984,000 after acquiring an additional 1,818 shares during the last quarter. Principal Financial Group Inc. raised its position in La-Z-Boy by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 223,683 shares of the company’s stock valued at $9,746,000 after purchasing an additional 6,908 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of La-Z-Boy by 67.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 143,949 shares of the company’s stock valued at $6,272,000 after purchasing an additional 58,146 shares during the last quarter. 99.62% of the stock is currently owned by institutional investors and hedge funds.

La-Z-Boy Trading Up 1.3 %

Shares of NYSE:LZB opened at $39.58 on Wednesday. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 13.60 and a beta of 1.38. La-Z-Boy Incorporated has a 12-month low of $32.00 and a 12-month high of $48.31. The business has a 50-day moving average price of $43.29 and a 200 day moving average price of $42.86.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. La-Z-Boy had a net margin of 5.92% and a return on equity of 12.38%. The business had revenue of $521.78 million for the quarter, compared to the consensus estimate of $516.47 million. As a group, equities research analysts predict that La-Z-Boy Incorporated will post 2.99 earnings per share for the current fiscal year.

La-Z-Boy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were issued a $0.22 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.88 annualized dividend and a dividend yield of 2.22%. La-Z-Boy’s dividend payout ratio is presently 30.24%.

About La-Z-Boy

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.