La-Z-Boy Incorporated (NYSE:LZB) Shares Bought by US Bancorp DE

US Bancorp DE grew its stake in shares of La-Z-Boy Incorporated (NYSE:LZB) by 334.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,725 shares of the company’s stock after purchasing an additional 6,716 shares during the quarter. US Bancorp DE’s holdings in La-Z-Boy were worth $341,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of LZB. Allspring Global Investments Holdings LLC lifted its stake in shares of La-Z-Boy by 273.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 537,314 shares of the company’s stock worth $21,262,000 after purchasing an additional 393,365 shares in the last quarter. Wellington Management Group LLP increased its position in shares of La-Z-Boy by 321.1% during the fourth quarter. Wellington Management Group LLP now owns 311,578 shares of the company’s stock worth $13,575,000 after acquiring an additional 237,578 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of La-Z-Boy during the fourth quarter worth about $4,500,000. Vest Financial LLC bought a new stake in La-Z-Boy in the first quarter valued at about $3,061,000. Finally, Quantedge Capital Pte Ltd increased its holdings in La-Z-Boy by 151.1% in the fourth quarter. Quantedge Capital Pte Ltd now owns 112,500 shares of the company’s stock valued at $4,902,000 after buying an additional 67,700 shares during the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.

La-Z-Boy Stock Performance

NYSE LZB opened at $39.28 on Thursday. The business’s fifty day moving average is $38.26 and its two-hundred day moving average is $40.48. The stock has a market capitalization of $1.62 billion, a P/E ratio of 16.64 and a beta of 1.26. La-Z-Boy Incorporated has a 1 year low of $34.89 and a 1 year high of $48.31.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings results on Tuesday, June 17th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.01). The firm had revenue of $570.87 million for the quarter, compared to analyst estimates of $557.44 million. La-Z-Boy had a net margin of 4.72% and a return on equity of 12.08%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 EPS. On average, research analysts forecast that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. KeyCorp upgraded La-Z-Boy from a “sector weight” rating to an “overweight” rating and set a $46.00 target price for the company in a research note on Friday, April 25th. Wall Street Zen downgraded La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd.

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.