Cardinal Capital Management Purchases 2,431 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Cardinal Capital Management lifted its stake in shares of La-Z-Boy Incorporated (NYSE:LZB) by 5.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 45,167 shares of the company’s stock after buying an additional 2,431 shares during the quarter. Cardinal Capital Management owned about 0.11% of La-Z-Boy worth $1,766,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its stake in La-Z-Boy by 244.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 658 shares of the company’s stock worth $29,000 after purchasing an additional 467 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of La-Z-Boy during the 4th quarter valued at approximately $51,000. Johnson Financial Group Inc. grew its holdings in La-Z-Boy by 2,394.1% during the 4th quarter. Johnson Financial Group Inc. now owns 1,696 shares of the company’s stock worth $80,000 after acquiring an additional 1,628 shares during the last quarter. Bank of Montreal Can bought a new stake in La-Z-Boy during the 4th quarter worth approximately $203,000. Finally, iSAM Funds UK Ltd bought a new stake in La-Z-Boy during the 4th quarter worth approximately $205,000. Institutional investors and hedge funds own 99.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LZB. Wall Street Zen upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Saturday. KeyCorp upgraded shares of La-Z-Boy from a “sector weight” rating to an “overweight” rating and set a $46.00 target price on the stock in a research report on Friday, April 25th.

La-Z-Boy Price Performance

NYSE LZB opened at $38.92 on Tuesday. La-Z-Boy Incorporated has a 1 year low of $33.34 and a 1 year high of $48.31. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 13.38 and a beta of 1.31. The company has a fifty day moving average price of $40.62 and a 200-day moving average price of $42.29.

La-Z-Boy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, June 3rd were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.88 annualized dividend and a dividend yield of 2.26%. La-Z-Boy’s payout ratio is 30.24%.

La-Z-Boy Company Profile

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.