Bridge City Capital LLC lifted its position in La-Z-Boy Incorporated (NYSE:LZB) by 8.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 43,433 shares of the company’s stock after buying an additional 3,471 shares during the period. Bridge City Capital LLC owned about 0.09% of La-Z-Boy worth $1,168,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Alaska Department of Revenue lifted its stake in shares of La-Z-Boy by 17.7% in the second quarter. State of Alaska Department of Revenue now owns 32,349 shares of the company’s stock worth $1,051,000 after buying an additional 4,859 shares in the last quarter. Menta Capital LLC increased its stake in shares of La-Z-Boy by 96.6% in the second quarter. Menta Capital LLC now owns 32,249 shares of the company’s stock worth $1,048,000 after purchasing an additional 15,849 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of La-Z-Boy in the second quarter worth $2,015,000. Highbridge Capital Management LLC purchased a new stake in shares of La-Z-Boy in the first quarter worth $287,000. Finally, Tributary Capital Management LLC increased its stake in shares of La-Z-Boy by 61.1% in the second quarter. Tributary Capital Management LLC now owns 31,100 shares of the company’s stock worth $1,011,000 after purchasing an additional 11,800 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.
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La-Z-Boy (NYSE:LZB) last issued its quarterly earnings results on Tuesday, August 22nd. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.05). The company had revenue of $357.10 million during the quarter, compared to analysts’ expectations of $359.34 million. La-Z-Boy had a return on equity of 14.18% and a net margin of 5.45%. La-Z-Boy’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 EPS.
A number of brokerages have recently issued reports on LZB. Zacks Investment Research raised shares of La-Z-Boy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 25th. ValuEngine raised shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Wednesday, October 25th. BidaskClub cut shares of La-Z-Boy from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. Stifel Nicolaus reduced their price objective on shares of La-Z-Boy from $30.00 to $27.00 and set a “hold” rating for the company in a research note on Thursday, August 24th. Finally, Sidoti cut shares of La-Z-Boy from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research note on Tuesday, August 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $31.50.
La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstery furniture products. The Company also imports, distributes and retails accessories and casegoods (wood) furniture products. The Company’s segments include the Upholstery segment, the Casegoods segment and the Retail segment.
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