Raymond James Financial Inc. Invests $619,000 in La-Z-Boy Incorporated (NYSE:LZB)

Raymond James Financial Inc. bought a new position in La-Z-Boy Incorporated (NYSE:LZB) during the fourth quarter, Holdings Channel reports. The fund bought 14,211 shares of the company’s stock, valued at approximately $619,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of La-Z-Boy by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 801,140 shares of the company’s stock valued at $34,906,000 after purchasing an additional 22,168 shares during the period. Verity Asset Management Inc. purchased a new stake in La-Z-Boy during the fourth quarter valued at about $275,000. Rhumbline Advisers boosted its holdings in shares of La-Z-Boy by 1.1% in the fourth quarter. Rhumbline Advisers now owns 160,292 shares of the company’s stock worth $6,984,000 after buying an additional 1,818 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of La-Z-Boy by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 223,683 shares of the company’s stock worth $9,746,000 after buying an additional 6,908 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of La-Z-Boy by 67.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 143,949 shares of the company’s stock worth $6,272,000 after acquiring an additional 58,146 shares in the last quarter. 99.62% of the stock is owned by institutional investors and hedge funds.

La-Z-Boy Stock Performance

Shares of NYSE:LZB opened at $37.31 on Monday. The firm has a 50 day simple moving average of $42.74 and a 200 day simple moving average of $42.74. La-Z-Boy Incorporated has a 52 week low of $32.00 and a 52 week high of $48.31. The company has a market cap of $1.54 billion, a PE ratio of 12.82 and a beta of 1.31.

La-Z-Boy (NYSE:LZB) last released its earnings results on Tuesday, February 18th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The company had revenue of $521.78 million during the quarter, compared to analyst estimates of $516.47 million. La-Z-Boy had a return on equity of 12.38% and a net margin of 5.92%. On average, equities analysts predict that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.

La-Z-Boy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.88 dividend on an annualized basis and a yield of 2.36%. La-Z-Boy’s payout ratio is presently 30.24%.

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.