New York State Teachers Retirement System Boosts Stock Position in La-Z-Boy Incorporated (NYSE:LZB)

New York State Teachers Retirement System lifted its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,073 shares of the company’s stock after purchasing an additional 1,247 shares during the quarter. New York State Teachers Retirement System’s holdings in La-Z-Boy were worth $3,576,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. abrdn plc bought a new stake in La-Z-Boy in the third quarter worth $10,809,000. Weiss Asset Management LP bought a new stake in La-Z-Boy in the third quarter worth $5,988,000. Allspring Global Investments Holdings LLC bought a new stake in La-Z-Boy in the third quarter worth $3,684,000. Wellington Management Group LLP bought a new stake in La-Z-Boy in the third quarter worth $3,177,000. Finally, Barclays PLC lifted its position in La-Z-Boy by 244.6% in the third quarter. Barclays PLC now owns 75,256 shares of the company’s stock worth $3,230,000 after buying an additional 53,419 shares during the last quarter. 99.62% of the stock is owned by hedge funds and other institutional investors.

La-Z-Boy Trading Up 0.7 %

NYSE:LZB opened at $44.88 on Friday. La-Z-Boy Incorporated has a twelve month low of $32.00 and a twelve month high of $48.31. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 15.42 and a beta of 1.35. The stock has a fifty day simple moving average of $44.73 and a 200-day simple moving average of $42.80.

La-Z-Boy (NYSE:LZB) last released its earnings results on Tuesday, February 18th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $516.47 million. As a group, equities research analysts predict that La-Z-Boy Incorporated will post 2.99 EPS for the current fiscal year.

La-Z-Boy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.88 annualized dividend and a dividend yield of 1.96%. La-Z-Boy’s dividend payout ratio is currently 30.24%.

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.