La-Z-Boy Incorporated (NYSE:LZB) Short Interest Down 16.8% in November

La-Z-Boy Incorporated (NYSE:LZB) was the target of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 1,680,000 shares, a decrease of 16.8% from the November 15th total of 2,020,000 shares. Based on an average daily volume of 429,800 shares, the days-to-cover ratio is presently 3.9 days. Approximately 4.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp raised its holdings in shares of La-Z-Boy by 32.0% during the 2nd quarter. Texas Permanent School Fund Corp now owns 49,422 shares of the company’s stock worth $1,842,000 after acquiring an additional 11,981 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of La-Z-Boy by 263.6% during the 2nd quarter. Squarepoint Ops LLC now owns 150,617 shares of the company’s stock worth $5,615,000 after acquiring an additional 109,188 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of La-Z-Boy during the 2nd quarter worth approximately $740,000. Victory Capital Management Inc. raised its holdings in shares of La-Z-Boy by 85.8% during the 3rd quarter. Victory Capital Management Inc. now owns 45,267 shares of the company’s stock worth $1,943,000 after acquiring an additional 20,900 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of La-Z-Boy during the 2nd quarter worth approximately $3,501,000. 99.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Sidoti downgraded 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 Price Performance

LZB stock opened at $44.40 on Friday. La-Z-Boy has a 1-year low of $32.00 and a 1-year high of $46.35. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 15.36 and a beta of 1.34. The business has a 50 day simple moving average of $42.08 and a two-hundred day simple moving average of $40.69.

La-Z-Boy Increases Dividend

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

About La-Z-Boy

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.