Renaissance Technologies LLC Has $7.19 Million Holdings in La-Z-Boy Incorporated $LZB

Renaissance Technologies LLC grew its position in La-Z-Boy Incorporated (NYSE:LZB) by 177.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 223,600 shares of the company’s stock after purchasing an additional 142,900 shares during the quarter. Renaissance Technologies LLC’s holdings in La-Z-Boy were worth $7,187,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Systematic Financial Management LP lifted its holdings in La-Z-Boy by 4.6% during the 1st quarter. Systematic Financial Management LP now owns 591,840 shares of the company’s stock worth $19,022,000 after purchasing an additional 26,009 shares during the last quarter. Sei Investments Co. grew its holdings in La-Z-Boy by 69.5% in the 1st quarter. Sei Investments Co. now owns 116,124 shares of the company’s stock valued at $3,732,000 after buying an additional 47,626 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in La-Z-Boy by 5.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,827 shares of the company’s stock valued at $252,000 after buying an additional 379 shares in the last quarter. Dimensional Fund Advisors LP increased its position in La-Z-Boy by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,694,255 shares of the company’s stock worth $86,594,000 after buying an additional 38,870 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of La-Z-Boy by 2.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 755,267 shares of the company’s stock worth $24,085,000 after buying an additional 18,997 shares in the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Sunday, July 5th. Weiss Ratings raised shares of La-Z-Boy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

La-Z-Boy Trading Up 1.8%

Shares of NYSE:LZB opened at $41.74 on Wednesday. The firm has a 50 day moving average of $39.12 and a 200-day moving average of $36.71. La-Z-Boy Incorporated has a 12 month low of $29.03 and a 12 month high of $44.90. The stock has a market capitalization of $1.67 billion, a PE ratio of 16.90, a PEG ratio of 1.25 and a beta of 1.27.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings data on Tuesday, June 16th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $0.82 by $0.44. La-Z-Boy had a net margin of 4.80% and a return on equity of 11.97%. The business had revenue of $570.34 million during the quarter, compared to the consensus estimate of $569.23 million. During the same period in the previous year, the business earned $0.36 earnings per share. The company’s revenue was down .1% on a year-over-year basis. On average, research analysts predict that La-Z-Boy Incorporated will post 2.98 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Melinda D. Whittington sold 26,639 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $40.24, for a total transaction of $1,071,953.36. Following the completion of the transaction, the chief executive officer owned 316,038 shares of the company’s stock, valued at approximately $12,717,369.12. The trade was a 7.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer Lynn Mccurry sold 3,715 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $41.05, for a total value of $152,500.75. Following the sale, the chief accounting officer owned 16,763 shares of the company’s stock, valued at approximately $688,121.15. This represents a 18.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 66,299 shares of company stock worth $2,677,491. 3.12% of the stock is owned by company insiders.

La-Z-Boy Company Profile

La-Z-Boy Incorporated (NYSE: LZB) is a leading U.S. manufacturer and marketer of residential furniture, best known for its upholstered recliners, sofas, stationary chairs and sleeper sofas. The company offers a broad range of products in both fabric and leather, complemented by occasional tables, desks, lamps and other home furnishings through its branded retail network.

Founded in 1927 by cousins Edward Knabusch and Edwin Shoemaker in Monroe, Michigan, La-Z-Boy pioneered the modern reclining chair.