Jennifer Lynn Mccurry Sells 3,715 Shares of La-Z-Boy (NYSE:LZB) Stock

La-Z-Boy Incorporated (NYSE:LZB) CAO Jennifer Lynn Mccurry sold 3,715 shares of La-Z-Boy stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $41.05, for a total value of $152,500.75. Following the completion of the transaction, the chief accounting officer directly owned 16,763 shares in the company, valued at $688,121.15. This represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Jennifer Lynn Mccurry also recently made the following trade(s):

• On Thursday, June 18th, Jennifer Lynn Mccurry sold 3,410 shares of La-Z-Boy stock. The stock was sold at an average price of $40.60, for a total transaction of $138,446.00.

La-Z-Boy Stock Performance

NYSE LZB opened at $41.14 on Friday. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 1.25 and a beta of 1.26. La-Z-Boy Incorporated has a one year low of $29.03 and a one year high of $44.90. The company’s 50 day moving average price is $36.82 and its 200 day moving average price is $36.47.

La-Z-Boy (NYSE:LZB) last posted its earnings results on Tuesday, June 16th. The company reported $1.26 earnings per share 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 for the quarter, compared to analyst estimates of $569.23 million. During the same quarter in the previous year, the business posted $0.36 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. Sell-side analysts forecast that La-Z-Boy Incorporated will post 2.98 EPS for the current fiscal year.

La-Z-Boy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, June 2nd were issued 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 presently 39.27%.

Analyst Upgrades and Downgrades

LZB has been the subject of several recent research reports. Weiss Ratings raised shares of La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Wall Street Zen downgraded shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Saturday. Three 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 a consensus rating of “Moderate Buy” and an average price target of $39.00.

Institutional Investors Weigh In On La-Z-Boy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. boosted its stake in shares of La-Z-Boy by 3.5% during the 2nd quarter. Osaic Holdings Inc. now owns 9,258 shares of the company’s stock valued at $344,000 after buying an additional 310 shares during the last quarter. Raymond James Financial Inc. raised its holdings in La-Z-Boy by 2.3% in the third quarter. Raymond James Financial Inc. now owns 14,703 shares of the company’s stock valued at $505,000 after acquiring an additional 336 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in La-Z-Boy by 0.3% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 110,619 shares of the company’s stock valued at $4,126,000 after acquiring an additional 363 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in La-Z-Boy by 1.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 20,666 shares of the company’s stock valued at $770,000 after acquiring an additional 374 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in La-Z-Boy by 5.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,827 shares of the company’s stock worth $252,000 after acquiring an additional 379 shares in the last quarter. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

About La-Z-Boy

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.