La-Z-Boy Incorporated (NYSE:LZB) Stock Sold by Alaska Department of Revenue

The Alaska State Department of Revenue reduced its stake in shares of La-Z-Boy Incorporated (NYSE:LZB – Free Report) by 1.6% during the first quarter, according to its latest filing with the Securities and Exchange Commission. The institutional investor owned 26,061 shares of the company after selling 425 shares during the quarter. The Alaska State Department of Revenue owned about 0.06% of La-Z-Boy, worth $980,000, according to its latest filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their positions in the company. Pacer Advisors Inc. increased its position in La-Z-Boy by 21.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,106,430 shares of the company’s stock worth $40,849,000 after purchasing an additional 192,546 shares during the period. First Trust Advisors LP increased its holdings of La-Z-Boy shares by 31.8% in the fourth quarter. First Trust Advisors LP now owns 789,342 shares of the company’s stock valued at $29,143,000 after purchasing an additional 190,651 shares during the period. Access Investment Management LLC purchased a new position in La-Z-Boy during the fourth quarter valued at approximately $4,248,000. American Century Companies Inc. increased its stake in La-Z-Boy by 22.7% during the third quarter. American Century Companies Inc. now owns 588,258 shares of the company’s stock worth $18,165,000 after acquiring an additional 108,945 shares during the period. Finally, Allianz Asset Management GmbH increased its position in La-Z-Boy by 34.9% during the fourth quarter. Allianz Asset Management GmbH now owns 167,776 shares of the company’s stock worth $6,194,000 after acquiring an additional 43,404 shares during the last quarter. 99.62% of the shares are held by institutional investors and hedge funds.

La-Z-Boy down 0.3%

NYSE:LZB opened at $37.39 on Wednesday. The company has a 50-day moving average of $36.03 and a 200-day moving average of $36.06. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 13.21 and a beta of 1.29. La-Z-Boy Incorporated has a 12-month low of $27.51 and a 12-month high of $41.08.

La-Z-Boy (NYSE: LZB – Get Free Report) last reported its financial results on Tuesday, June 18th. The company reported EPS of $0.95 for the quarter, beating the consensus estimate of $0.70 by $0.25. The company had revenue of $553.54 million during the quarter, compared to analyst estimates of $516.44 million. La-Z-Boy had a net margin of 5.99% and a return on equity of 13.10%. The company’s quarterly revenue decreased by 1.4% on a year-over-year basis. During the same period last year, the company earned $0.99 per share. On average, research analysts expect that La-Z-Boy Incorporated will post earnings of $3.13 per share for the current year.

La-Z-Boy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, June 4th received a dividend of $0.20 per share. This represents an annualized dividend of $0.80 and a dividend yield of 2.14%. The ex-dividend date was Tuesday, June 4th. La-Z-Boy’s dividend payout ratio (DPR) is currently 28.27%.

La-Z-Boy Profile

(Free report)

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstered furniture, accessories and casework 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, sectionals, ottomans and sofa beds; and imports, distributes and retails casework (wood) furniture, including accent pieces, bedroom sets, dining sets, entertainment centers and accent pieces.

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