La-Z-Boy Incorporated (NYSE:LZB) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 6.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 109,639 shares of the company’s stock after acquiring an additional 6,806 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.24% of La-Z-Boy worth $4,061,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC boosted its position in La-Z-Boy by 110.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 1,063 shares of the company’s stock worth $45,000 after acquiring an additional 557 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its position in La-Z-Boy by 40.4% during the first quarter. Harvest Fund Management Co. Ltd now owns 1,202 shares of the company’s stock worth $51,000 after acquiring an additional 346 shares during the last quarter. Heritage Wealth Management LLC boosted its holdings in shares of La-Z-Boy by 60.4% in the 2nd quarter. Heritage Wealth Management LLC now owns 2,375 shares of the company’s stock valued at $88,000 after purchasing an additional 894 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of La-Z-Boy by 2,513.9% in the 1st quarter. Captrust Financial Advisors now owns 2,823 shares of the company’s stock valued at $120,000 after purchasing an additional 2,715 shares during the last quarter. Finally, McIlrath & Eck LLC acquired a new position in shares of La-Z-Boy in the 2nd quarter valued at $128,000. Hedge funds and other institutional investors own 93.65% of the company’s stock.

In related news, SVP Otis S. Sawyer sold 18,000 shares of La-Z-Boy stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $35.15, for a total transaction of $632,700.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.01% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Friday, August 20th.

Shares of LZB opened at $33.25 on Thursday. The firm has a market cap of $1.47 billion, a PE ratio of 12.22 and a beta of 1.08. The company’s fifty day moving average is $34.17 and its two-hundred day moving average is $38.01. La-Z-Boy Incorporated has a fifty-two week low of $31.92 and a fifty-two week high of $46.74.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings results on Monday, August 16th. The company reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.01). The company had revenue of $524.78 million during the quarter, compared to analyst estimates of $485.94 million. La-Z-Boy had a net margin of 6.40% and a return on equity of 17.87%. The firm’s revenue for the quarter was up 83.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 EPS. Equities research analysts anticipate that La-Z-Boy Incorporated will post 3.36 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Thursday, September 2nd were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, September 1st. This represents a $0.60 annualized dividend and a dividend yield of 1.80%. La-Z-Boy’s payout ratio is 22.90%.

La-Z-Boy Company Profile

La-Z-Boy, Inc engages in the production of reclining chairs and manufacture and distribution of residential furniture. It operates through the following segments: Wholesale, Retail, and Corporate and Other. 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 casegoods (wood) furniture, such as occasional pieces, bedroom sets, dining room sets and entertainment centers.

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Institutional Ownership by Quarter for La-Z-Boy (NYSE:LZB)

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