Bridgefront Capital LLC Acquires Shares of 4,904 La-Z-Boy Incorporated (NYSE:LZB)

Bridgefront Capital LLC acquired a new stake in shares of La-Z-Boy Incorporated (NYSE:LZB) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,904 shares of the company’s stock, valued at approximately $214,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. American Century Companies Inc. grew its position in shares of La-Z-Boy by 3.0% during the 4th quarter. American Century Companies Inc. now owns 1,149,236 shares of the company’s stock worth $50,072,000 after buying an additional 33,416 shares in the last quarter. William Blair Investment Management LLC boosted its stake in La-Z-Boy by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 999,523 shares of the company’s stock worth $43,549,000 after purchasing an additional 24,125 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of La-Z-Boy by 2.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 960,023 shares of the company’s stock valued at $41,828,000 after acquiring an additional 23,329 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of La-Z-Boy by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 801,140 shares of the company’s stock worth $34,906,000 after purchasing an additional 22,168 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of La-Z-Boy by 10.7% in the 4th quarter. Northern Trust Corp now owns 487,839 shares of the company’s stock valued at $21,255,000 after acquiring an additional 46,975 shares during the last quarter. 99.62% of the stock is currently owned by institutional investors.

La-Z-Boy Price Performance

NYSE LZB opened at $42.28 on Friday. The stock’s 50 day simple moving average is $39.23 and its 200-day simple moving average is $42.27. The company has a market cap of $1.75 billion, a PE ratio of 14.53 and a beta of 1.33. La-Z-Boy Incorporated has a 1-year low of $33.34 and a 1-year high of $48.31.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $521.78 million during the quarter, compared to analyst estimates of $516.47 million. La-Z-Boy had a return on equity of 12.38% and a net margin of 5.92%. On average, equities research analysts anticipate that La-Z-Boy Incorporated will post 2.99 EPS for the current fiscal year.

La-Z-Boy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Tuesday, June 3rd. La-Z-Boy’s dividend payout ratio is presently 30.24%.

Analysts Set New Price Targets

Separately, KeyCorp raised shares of La-Z-Boy from a “sector weight” rating to an “overweight” rating and set a $46.00 target price for the company in a report on Friday, April 25th.

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.