La-Z-Boy (NYSE:LZB) Insider Robert Sundy II Sells 5,000 Shares

La-Z-Boy Incorporated (NYSE:LZB) insider Robert Sundy II sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $30.85, for a total value of $154,250.00. Following the completion of the transaction, the insider directly owned 59,297 shares of the company’s stock, valued at approximately $1,829,312.45. The trade was a 7.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

La-Z-Boy Price Performance

NYSE LZB opened at $31.02 on Tuesday. The firm has a market cap of $1.24 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.10 and a beta of 1.23. The stock’s 50-day moving average is $37.22 and its 200-day moving average is $36.22. La-Z-Boy Incorporated has a one year low of $29.03 and a one year high of $44.90.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings data on Tuesday, August 18th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). La-Z-Boy had a net margin of 3.86% and a return on equity of 11.79%. The business had revenue of $475.69 million for the quarter, compared to the consensus estimate of $501.44 million. During the same quarter last year, the firm earned $0.47 EPS. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. Equities analysts anticipate that La-Z-Boy Incorporated will post 2.53 EPS for the current year.

La-Z-Boy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Thursday, September 3rd will be issued a $0.242 dividend. This represents a $0.97 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Thursday, September 3rd. La-Z-Boy’s dividend payout ratio is 49.24%.

Analyst Ratings Changes

A number of brokerages recently commented on LZB. Zacks Research cut shares of La-Z-Boy from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 20th. Weiss Ratings cut La-Z-Boy from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday, August 20th. KeyCorp dropped their price target on La-Z-Boy from $46.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, August 20th. Finally, Wall Street Zen lowered La-Z-Boy from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, La-Z-Boy presently has an average rating of “Hold” and a consensus price target of $39.50.

Institutional Investors Weigh In On La-Z-Boy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of La-Z-Boy during the 2nd quarter worth approximately $265,535,000. WINTON GROUP Ltd bought a new position in La-Z-Boy during the second quarter worth $3,896,000. Empowered Funds LLC acquired a new position in shares of La-Z-Boy in the second quarter valued at $6,475,000. Sei Investments Co. increased its holdings in shares of La-Z-Boy by 69.5% in the first quarter. Sei Investments Co. now owns 116,124 shares of the company’s stock valued at $3,732,000 after purchasing an additional 47,626 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of La-Z-Boy by 49.5% in the first quarter. Pacer Advisors Inc. now owns 182,698 shares of the company’s stock valued at $5,872,000 after purchasing an additional 60,518 shares during the period. 99.62% of the stock is owned by institutional investors.

La-Z-Boy Company Profile

La-Z-Boy Incorporated is a residential furniture manufacturer and retailer best known for its upholstered recliners. The company offers a broad range of furniture for living rooms, family rooms, bedrooms and other areas of the home, including recliners, sofas, sectionals, chairs, ottomans, tables, beds and complementary home furnishings.

Founded in 1927 in Monroe, Michigan, La-Z-Boy built its reputation around its reclining chair and has expanded into a full-service home furnishings company.