Pacer Advisors Inc. Invests $4.55 Million in La-Z-Boy Incorporated $LZB

Pacer Advisors Inc. bought a new stake in shares of La-Z-Boy Incorporated (NYSE:LZB) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 122,180 shares of the company’s stock, valued at approximately $4,554,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Quarry LP raised its stake in La-Z-Boy by 4,785.7% in the fourth quarter. Quarry LP now owns 684 shares of the company’s stock worth $25,000 after buying an additional 670 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of La-Z-Boy by 290.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock valued at $33,000 after purchasing an additional 670 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of La-Z-Boy by 99.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock valued at $42,000 after purchasing an additional 567 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in La-Z-Boy by 3,130.8% in the third quarter. CIBC Private Wealth Group LLC now owns 1,260 shares of the company’s stock worth $43,000 after purchasing an additional 1,221 shares during the period. Finally, TD Private Client Wealth LLC bought a new position in La-Z-Boy in the fourth quarter worth $45,000. Hedge funds and other institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Up 0.8%

Shares of NYSE:LZB opened at $39.96 on Tuesday. The firm’s 50 day moving average price is $36.25 and its 200-day moving average price is $36.40. La-Z-Boy Incorporated has a twelve month low of $29.03 and a twelve month high of $44.90. The stock has a market capitalization of $1.59 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 1.21 and a beta of 1.26.

La-Z-Boy (NYSE:LZB) last announced its earnings results on Tuesday, June 16th. The company reported $1.26 earnings per share (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 company had revenue of $570.34 million during the quarter, compared to analyst estimates of $569.23 million. During the same period in the previous year, the business posted $0.36 earnings per share. The firm’s quarterly revenue was down .1% compared to the same quarter last year. Analysts expect that La-Z-Boy Incorporated will post 2.98 earnings per share for the current fiscal year.

La-Z-Boy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd were paid a dividend of $0.242 per share. This represents a $0.97 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, June 2nd. La-Z-Boy’s dividend payout ratio (DPR) is currently 39.27%.

Analyst Ratings Changes

LZB has been the topic of several research reports. Wall Street Zen raised shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. Weiss Ratings raised shares of La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, La-Z-Boy presently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

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.