Northern Trust Corp Has $21.26 Million Stock Holdings in La-Z-Boy Incorporated (NYSE:LZB)

Northern Trust Corp lifted its stake in La-Z-Boy Incorporated (NYSE:LZB) by 10.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 487,839 shares of the company’s stock after purchasing an additional 46,975 shares during the quarter. Northern Trust Corp’s holdings in La-Z-Boy were worth $21,255,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in shares of La-Z-Boy by 321.1% during the 4th quarter. Wellington Management Group LLP now owns 311,578 shares of the company’s stock valued at $13,575,000 after acquiring an additional 237,578 shares in the last quarter. Norges Bank bought a new stake in La-Z-Boy in the fourth quarter worth approximately $5,786,000. Teacher Retirement System of Texas lifted its stake in shares of La-Z-Boy by 338.4% in the 4th quarter. Teacher Retirement System of Texas now owns 163,713 shares of the company’s stock valued at $7,133,000 after purchasing an additional 126,371 shares during the last quarter. abrdn plc increased its position in La-Z-Boy by 38.1% during the fourth quarter. abrdn plc now owns 347,589 shares of the company’s stock worth $15,148,000 after buying an additional 95,812 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of La-Z-Boy by 40.5% during the 4th quarter. JPMorgan Chase & Co. now owns 291,912 shares of the company’s stock worth $12,719,000 after acquiring an additional 84,180 shares in the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Up 3.9%

Shares of LZB stock opened at $43.64 on Tuesday. La-Z-Boy Incorporated has a 12 month low of $33.34 and a 12 month high of $48.31. The firm has a market cap of $1.80 billion, a PE ratio of 15.00 and a beta of 1.33. The stock has a 50 day moving average of $39.25 and a 200-day moving average of $42.35.

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

La-Z-Boy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, June 3rd will be issued a $0.22 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.02%. La-Z-Boy’s payout ratio is presently 30.24%.

Analyst Ratings Changes

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

La-Z-Boy Company 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.