State of Alaska Department of Revenue Sells 1,154 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Posted by Defense World Staff on Oct 18th, 2023

State of Alaska Department of Revenue cut its holdings in La-Z-Boy Incorporated (NYSE:LZB – Free Report) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,385 shares of the company’s stock after selling 1,154 shares during the quarter. State of Alaska Department of Revenue owned about 0.07% of La-Z-Boy worth $812,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP boosted its stake in La-Z-Boy by 184.4% in the first quarter. Quarry LP now owns 1,018 shares of the company’s stock valued at $30,000 after acquiring an additional 660 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of La-Z-Boy by 11,058.3% during the first quarter. Federated Hermes Inc. now owns 1,339 shares of the company’s stock worth $39,000 after purchasing an additional 1,327 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of La-Z-Boy during the second quarter worth $41,000. Captrust Financial Advisors boosted its position in shares of La-Z-Boy by 84.7% during the first quarter. Captrust Financial Advisors now owns 3,290 shares of the company’s stock worth $87,000 after purchasing an additional 1,509 shares in the last quarter. Finally, Point72 Middle East FZE bought a new position in shares of La-Z-Boy during the fourth quarter worth $80,000. 96.31% of the stock is owned by institutional investors.

La-Z-Boy Stock Up 0.9 %

Shares of NYSE LZB opened at $29.78 on Wednesday. The company’s fifty day moving average is $30.73 and its 200-day moving average is $29.39. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 9.22 and a beta of 1.10. La-Z-Boy Incorporated has a twelve month low of $22.42 and a twelve month high of $33.92.

La-Z-Boy (NYSE:LZB – Get Free Report) last issued its quarterly earnings data on Wednesday, August 23rd. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.07. La-Z-Boy had a net margin of 6.27% and a return on equity of 16.64%. The business had revenue of $481.65 million for the quarter, compared to analyst estimates of $474.58 million. During the same period last year, the business posted $0.91 earnings per share. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. On average, research analysts anticipate that La-Z-Boy Incorporated will post 2.86 EPS for the current fiscal year.

La-Z-Boy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Wednesday, September 6th were issued a dividend of $0.1815 per share. The ex-dividend date of this dividend was Tuesday, September 5th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 2.44%. La-Z-Boy’s payout ratio is 22.29%.

Insider Buying and Selling

In other La-Z-Boy news, Director Janet Kerr sold 4,582 shares of La-Z-Boy stock in a transaction on Monday, September 25th. The shares were sold at an average price of $30.86, for a total value of $141,400.52. Following the sale, the director now directly owns 3,890 shares in the company, valued at approximately $120,045.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Thursday, October 12th.

Check Out Our Latest Research Report on LZB

La-Z-Boy Profile

(Free Report)

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.