La-Z-Boy Incorporated (NYSE:LZB) Holdings Cut by XTX Topco Ltd

XTX Topco Ltd reduced its stake in shares of La-Z-Boy Incorporated (NYSE:LZB) by 51.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,555 shares of the company’s stock after selling 10,303 shares during the period. XTX Topco Ltd’s holdings in La-Z-Boy were worth $410,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Assetmark Inc. purchased a new position in La-Z-Boy in the third quarter valued at about $30,000. Quarry LP grew its stake in shares of La-Z-Boy by 2,550.0% in the 2nd quarter. Quarry LP now owns 1,378 shares of the company’s stock valued at $51,000 after buying an additional 1,326 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in La-Z-Boy in the second quarter worth approximately $63,000. Innealta Capital LLC bought a new position in La-Z-Boy during the second quarter valued at approximately $69,000. Finally, Quest Partners LLC acquired a new stake in La-Z-Boy in the second quarter valued at approximately $91,000. 99.62% of the stock is owned by institutional investors and hedge funds.

La-Z-Boy Price Performance

Shares of NYSE:LZB opened at $44.47 on Monday. The stock has a market capitalization of $1.84 billion, a P/E ratio of 15.39 and a beta of 1.34. The business has a 50-day moving average of $42.08 and a two-hundred day moving average of $40.76. La-Z-Boy Incorporated has a fifty-two week low of $32.00 and a fifty-two week high of $46.35.

La-Z-Boy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.88 dividend on an annualized basis and a yield of 1.98%. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.20. La-Z-Boy’s dividend payout ratio is presently 30.45%.

Analyst Upgrades and Downgrades

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

La-Z-Boy 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.