SG Americas Securities LLC lifted its stake in La-Z-Boy Incorporated (NYSE:LZB) by 31.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,117 shares of the company’s stock after acquiring an additional 3,827 shares during the period. SG Americas Securities LLC’s holdings in La-Z-Boy were worth $434,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in La-Z-Boy by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,016,649 shares of the company’s stock valued at $98,040,000 after buying an additional 18,264 shares during the period. Northern Trust Corp boosted its stake in La-Z-Boy by 1.7% during the second quarter. Northern Trust Corp now owns 1,255,701 shares of the company’s stock valued at $40,810,000 after buying an additional 20,775 shares during the period. State Street Corp boosted its stake in La-Z-Boy by 2.9% during the second quarter. State Street Corp now owns 1,249,498 shares of the company’s stock valued at $40,609,000 after buying an additional 35,483 shares during the period. Boston Partners boosted its stake in La-Z-Boy by 39.0% during the third quarter. Boston Partners now owns 1,059,506 shares of the company’s stock valued at $28,501,000 after buying an additional 297,244 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in La-Z-Boy by 28.5% during the second quarter. Ameriprise Financial Inc. now owns 634,811 shares of the company’s stock valued at $20,633,000 after buying an additional 140,951 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.
La-Z-Boy Incorporated (LZB) traded up $0.20 during midday trading on Thursday, reaching $30.90. The company’s stock had a trading volume of 430,100 shares, compared to its average volume of 466,557. La-Z-Boy Incorporated has a twelve month low of $23.15 and a twelve month high of $34.25. The stock has a market capitalization of $1,452.65, a P/E ratio of 17.54 and a beta of 1.03.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Monday, December 11th will be given a dividend of $0.12 per share. This is an increase from La-Z-Boy’s previous quarterly dividend of $0.11. The ex-dividend date is Friday, December 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.55%. La-Z-Boy’s dividend payout ratio (DPR) is presently 27.43%.
Several equities research analysts recently issued reports on the company. Zacks Investment Research raised La-Z-Boy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 25th. Stifel Nicolaus reissued a “hold” rating on shares of La-Z-Boy in a research note on Friday, December 1st. ValuEngine raised La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. KeyCorp reissued a “buy” rating and set a $36.00 price objective on shares of La-Z-Boy in a research note on Friday, November 10th. Finally, BidaskClub lowered La-Z-Boy from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $33.00.
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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