Comerica Bank Sells 406 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Comerica Bank reduced its position in La-Z-Boy Incorporated (NYSE:LZB) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,992 shares of the company’s stock after selling 406 shares during the quarter. Comerica Bank’s holdings in La-Z-Boy were worth $653,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in La-Z-Boy by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 801,140 shares of the company’s stock worth $34,906,000 after purchasing an additional 22,168 shares during the period. Verity Asset Management Inc. bought a new position in shares of La-Z-Boy during the fourth quarter valued at $275,000. Rhumbline Advisers lifted its holdings in shares of La-Z-Boy by 1.1% during the fourth quarter. Rhumbline Advisers now owns 160,292 shares of the company’s stock valued at $6,984,000 after acquiring an additional 1,818 shares during the period. Amundi lifted its holdings in shares of La-Z-Boy by 174.5% during the fourth quarter. Amundi now owns 20,325 shares of the company’s stock valued at $876,000 after acquiring an additional 12,921 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of La-Z-Boy by 3.2% during the fourth quarter. Principal Financial Group Inc. now owns 223,683 shares of the company’s stock valued at $9,746,000 after acquiring an additional 6,908 shares during the period. 99.62% of the stock is owned by institutional investors.

La-Z-Boy Stock Performance

Shares of NYSE LZB opened at $43.31 on Thursday. The stock has a market cap of $1.79 billion, a PE ratio of 14.88 and a beta of 1.33. The business has a fifty day moving average of $39.32 and a two-hundred day moving average of $42.37. La-Z-Boy Incorporated has a 52-week low of $33.34 and a 52-week high of $48.31.

La-Z-Boy (NYSE:LZB) last released its quarterly 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. La-Z-Boy had a return on equity of 12.38% and a net margin of 5.92%. The business had revenue of $521.78 million during the quarter, compared to analysts’ expectations of $516.47 million. Analysts predict that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.

La-Z-Boy Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.03%. La-Z-Boy’s dividend payout ratio is 30.24%.

Analyst Ratings Changes

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

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.