Quest Partners LLC Invests $91,000 in La-Z-Boy Incorporated (NYSE:LZB)

Quest Partners LLC bought a new stake in shares of La-Z-Boy Incorporated (NYSE:LZB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 2,454 shares of the company’s stock, valued at approximately $91,000.

Several other institutional investors and hedge funds have also bought and sold shares of LZB. Allianz Asset Management GmbH grew its stake in shares of La-Z-Boy by 34.9% in the 4th quarter. Allianz Asset Management GmbH now owns 167,776 shares of the company’s stock valued at $6,194,000 after buying an additional 43,404 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in La-Z-Boy in the fourth quarter valued at approximately $776,000. First Trust Advisors LP increased its holdings in shares of La-Z-Boy by 31.8% during the fourth quarter. First Trust Advisors LP now owns 789,342 shares of the company’s stock valued at $29,143,000 after acquiring an additional 190,651 shares in the last quarter. Schroder Investment Management Group raised its position in shares of La-Z-Boy by 1.3% during the fourth quarter. Schroder Investment Management Group now owns 692,004 shares of the company’s stock worth $25,549,000 after purchasing an additional 8,722 shares during the period. Finally, Quadrature Capital Ltd raised its position in shares of La-Z-Boy by 25.3% during the fourth quarter. Quadrature Capital Ltd now owns 10,181 shares of the company’s stock worth $376,000 after purchasing an additional 2,054 shares during the period. 99.62% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other La-Z-Boy news, Director Janet Kerr sold 3,890 shares of La-Z-Boy stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $40.89, for a total transaction of $159,062.10. Following the transaction, the director now owns 3,372 shares of the company’s stock, valued at approximately $137,881.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Janet Kerr sold 3,890 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $40.89, for a total transaction of $159,062.10. Following the completion of the sale, the director now directly owns 3,372 shares of the company’s stock, valued at approximately $137,881.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Jennifer Lynn Mccurry sold 4,414 shares of La-Z-Boy stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.31, for a total value of $182,342.34. Following the sale, the chief accounting officer now owns 13,236 shares in the company, valued at $546,779.16. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

La-Z-Boy Stock Performance

Shares of NYSE LZB opened at $43.05 on Wednesday. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 15.21 and a beta of 1.28. La-Z-Boy Incorporated has a fifty-two week low of $27.92 and a fifty-two week high of $45.23. The firm’s 50-day simple moving average is $41.39 and its 200 day simple moving average is $37.75.

La-Z-Boy (NYSE:LZB) last announced its earnings results on Tuesday, August 20th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. The company had revenue of $495.50 million for the quarter, compared to analysts’ expectations of $482.23 million. La-Z-Boy had a return on equity of 12.90% and a net margin of 5.89%. La-Z-Boy’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 earnings per share. On average, sell-side analysts predict that La-Z-Boy Incorporated will post 2.98 EPS for the current year.

La-Z-Boy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Thursday, September 5th. La-Z-Boy’s dividend payout ratio (DPR) is presently 28.27%.

Analyst Ratings Changes

Separately, Sidoti lowered shares of La-Z-Boy from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a research note on Wednesday, August 21st.

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.