MetLife Investment Management LLC Decreases Stock Holdings in La-Z-Boy Incorporated $LZB

MetLife Investment Management LLC trimmed its stake in shares of La-Z-Boy Incorporated (NYSE:LZB) by 3.8% in the 1st quarter, Holdings Channel reports. The firm owned 24,862 shares of the company’s stock after selling 994 shares during the period. MetLife Investment Management LLC’s holdings in La-Z-Boy were worth $972,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in LZB. Allspring Global Investments Holdings LLC raised its holdings 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 valued at $21,262,000 after purchasing an additional 393,365 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of La-Z-Boy by 68.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 881,692 shares of the company’s stock valued at $34,466,000 after purchasing an additional 359,736 shares during the last quarter. Nuveen LLC purchased a new stake in La-Z-Boy during the first quarter valued at approximately $10,725,000. Wellington Management Group LLP increased its holdings in La-Z-Boy by 321.1% during the fourth quarter. Wellington Management Group LLP now owns 311,578 shares of the company’s stock valued at $13,575,000 after buying an additional 237,578 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in La-Z-Boy during the fourth quarter valued at approximately $4,500,000. 99.62% of the stock is owned by hedge funds and other institutional investors.

La-Z-Boy Price Performance

Shares of NYSE LZB opened at $36.10 on Friday. The firm has a fifty day moving average price of $37.54 and a 200-day moving average price of $39.41. The stock has a market cap of $1.49 billion, a PE ratio of 16.48 and a beta of 1.23. La-Z-Boy Incorporated has a 1 year low of $31.99 and a 1 year high of $48.31.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings data on Tuesday, August 19th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.06). The firm had revenue of $492.23 million during the quarter, compared to analysts’ expectations of $502.56 million. La-Z-Boy had a return on equity of 11.34% and a net margin of 4.35%.The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the company earned $0.62 earnings per share. La-Z-Boy has set its Q2 2026 guidance at EPS. On average, research analysts expect that La-Z-Boy Incorporated will post 2.99 EPS for the current year.

La-Z-Boy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Thursday, September 4th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.4%. La-Z-Boy’s dividend payout ratio is 40.18%.

Analyst Ratings Changes

A number of brokerages have commented on LZB. Zacks Research cut shares of La-Z-Boy from a “hold” rating to a “strong sell” rating in a report on Friday, August 22nd. Wall Street Zen cut shares of La-Z-Boy from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, La-Z-Boy currently has an average rating of “Hold” and a consensus price target of $46.00.

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.