La-Z-Boy Incorporated (NYSE:LZB) Stake Boosted by Hsbc Holdings PLC

Hsbc Holdings PLC increased its position in La-Z-Boy Incorporated (NYSE:LZB) by 61.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,436 shares of the company’s stock after acquiring an additional 3,972 shares during the period. Hsbc Holdings PLC’s holdings in La-Z-Boy were worth $455,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its holdings in La-Z-Boy by 244.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 658 shares of the company’s stock worth $29,000 after acquiring an additional 467 shares during the period. Venturi Wealth Management LLC bought a new stake in La-Z-Boy during the fourth quarter worth approximately $51,000. Bank of Montreal Can acquired a new position in La-Z-Boy in the fourth quarter worth approximately $203,000. O Shaughnessy Asset Management LLC lifted its position in shares of La-Z-Boy by 7.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,282 shares of the company’s stock valued at $274,000 after acquiring an additional 457 shares during the last quarter. Finally, Verity Asset Management Inc. bought a new stake in shares of La-Z-Boy during the 4th quarter worth $275,000. Institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Down 0.8 %

NYSE LZB opened at $40.58 on Thursday. The company has a 50 day moving average price of $39.25 and a two-hundred day moving average price of $42.25. La-Z-Boy Incorporated has a 12-month low of $33.34 and a 12-month high of $48.31. The stock has a market capitalization of $1.68 billion, a PE ratio of 13.95 and a beta of 1.33.

La-Z-Boy (NYSE:LZB) last posted its earnings results on Tuesday, February 18th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. The firm had revenue of $521.78 million for the quarter, compared to the consensus estimate of $516.47 million. La-Z-Boy had a net margin of 5.92% and a return on equity of 12.38%. As a group, equities analysts anticipate that La-Z-Boy Incorporated will post 2.99 EPS for the current year.

La-Z-Boy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Tuesday, June 3rd will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $0.88 annualized dividend and a yield of 2.17%. La-Z-Boy’s dividend payout ratio (DPR) is presently 30.24%.

Wall Street Analysts Forecast Growth

Separately, KeyCorp upgraded La-Z-Boy from a “sector weight” rating to an “overweight” rating and set a $46.00 price objective on the stock in a report on Friday, April 25th.

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.