Empowered Funds LLC Acquires 10,318 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Empowered Funds LLC boosted its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 5.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 202,786 shares of the company’s stock after buying an additional 10,318 shares during the quarter. Empowered Funds LLC owned approximately 0.48% of La-Z-Boy worth $8,706,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LZB. Assetmark Inc. bought a new position in shares of La-Z-Boy during the 3rd quarter valued at approximately $30,000. Quarry LP boosted its position in shares of La-Z-Boy by 2,550.0% in the second quarter. Quarry LP now owns 1,378 shares of the company’s stock worth $51,000 after purchasing an additional 1,326 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of La-Z-Boy in the second quarter worth approximately $63,000. Innealta Capital LLC bought a new stake in shares of La-Z-Boy during the 2nd quarter valued at $69,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of La-Z-Boy during the 1st quarter valued at $70,000. 99.62% of the stock is owned by hedge funds and other institutional investors.

La-Z-Boy Trading Down 0.7 %

NYSE LZB opened at $42.79 on Friday. La-Z-Boy Incorporated has a 12 month low of $30.68 and a 12 month high of $45.23. The stock has a market cap of $1.79 billion, a PE ratio of 15.23 and a beta of 1.29. The stock’s 50 day moving average is $40.97 and its 200 day moving average is $39.35.

La-Z-Boy (NYSE:LZB) last issued its earnings results on Tuesday, August 20th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $495.50 million during the quarter, compared to analyst estimates of $482.23 million. La-Z-Boy had a net margin of 5.89% and a return on equity of 12.90%. La-Z-Boy’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. On average, analysts forecast that La-Z-Boy Incorporated will post 2.98 EPS for the current fiscal year.

La-Z-Boy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.80 annualized dividend and a yield of 1.87%. La-Z-Boy’s payout ratio is presently 28.47%.

Analyst Upgrades and Downgrades

Separately, Sidoti lowered La-Z-Boy from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a research note on Wednesday, August 21st.

Insider Buying and Selling

In related news, CAO Jennifer Lynn Mccurry sold 4,414 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $41.31, for a total value of $182,342.34. Following the transaction, the chief accounting officer now owns 13,236 shares of the company’s stock, valued at $546,779.16. This trade represents a 25.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Janet Kerr sold 3,890 shares of La-Z-Boy stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $40.89, for a total transaction of $159,062.10. Following the sale, the director now directly owns 3,372 shares of the company’s stock, valued at $137,881.08. This represents a 53.57 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

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.