Schroder Investment Management Group Buys 8,722 Shares of La-Z-Boy Incorporated (NYSE: LZB)

Schroder Investment Management Group increased its stake in La-Z-Boy Incorporated (NYSE: LZB – Free Report) by 1.3% in the fourth quarter, according to the company in its latest disclosure with the Securities & Exchange Commission. The institutional investor owned 692,004 shares of the company’s stock after purchasing an additional 8,722 shares during the quarter. Schroder Investment Management Group owned approximately 1.62% of La-Z-Boy worth $25,549,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in La-Z-Boy in the fourth quarter valued at approximately $35,000. Vest Financial LLC purchased a new position in La-Z-Boy during the fourth quarter valued at approximately $241,000. Quadrature Capital Ltd purchased a new position in La-Z-Boy during the third quarter valued at approximately $251,000. WINTON GROUP Ltd increased its stake in La-Z-Boy by 7.9% in the third quarter. WINTON GROUP Ltd now owns 11,826 shares of the company’s stock valued at $365,000 after purchasing an additional 870 shares during the last quarter. Finally, ARGA Investment Management LP purchased a new position in La-Z-Boy in the fourth quarter valued at approximately $692,000. 99.62% of shares are currently owned by institutional investors.

Wall Street analyst speaks

Separately, lowered La-Z-Boy’s rating from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th.

Get our latest research report on LZB

La-Z-Boy trades down 2.7%

Shares of NYSE LZB opened at $34.34 on Tuesday. La-Z-Boy Incorporated has a 12-month low of $25.12 and a 12-month high of $39.87. The stock has a 50 day moving average of $34.93 and a 200 day moving average of $35.84. The company has a market capitalization of $1.46 billion, a P/E ratio of 12.67, and a beta of 1.25.

La-Z-Boy dividend announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14. Shareholders of record on Tuesday, June 4 will receive a dividend of $0.20 per share. The ex-dividend date is Tuesday, June 4. This represents an annualized dividend of $0.80 and a dividend yield of 2.33%. La-Z-Boy’s dividend payout ratio is currently 29.52%.

Insider Transactions at La-Z-Boy

In other news, Senior Vice President Michael Adam Leggett sold 3,077 shares of La-Z-Boy stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $37.08, for a total transaction of $114,095.16. Following the completion of the transaction, the Senior Vice President now directly owns 21,519 shares of the company’s stock, valued at approximately $797,924.52. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. 1.70% of shares are currently owned by insiders.

Profile of La-Z-Boy

(Free report)

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstered furniture products, accessories and home furnishings 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 movable furniture, sofas, loveseats, chairs, pods, pods, ottomans and sofa beds; and imports, distributes and retails (wooden) storage furniture, including accent pieces, bedroom sets, dining sets, entertainment centers and accent pieces.

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