Access Investment Management LLC Sells 9,400 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Access Investment Management LLC trimmed its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 8.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,535 shares of the company’s stock after selling 9,400 shares during the quarter. La-Z-Boy accounts for 1.3% of Access Investment Management LLC’s portfolio, making the stock its 24th largest holding. Access Investment Management LLC owned approximately 0.26% of La-Z-Boy worth $4,642,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. State Street Corp boosted its position in shares of La-Z-Boy by 0.4% in the third quarter. State Street Corp now owns 1,672,009 shares of the company’s stock valued at $71,779,000 after acquiring an additional 6,925 shares during the period. Systematic Financial Management LP lifted its position in La-Z-Boy by 9.4% in the third quarter. Systematic Financial Management LP now owns 563,684 shares of the company’s stock worth $24,199,000 after purchasing an additional 48,263 shares during the period. abrdn plc lifted its position in La-Z-Boy by 38.1% in the fourth quarter. abrdn plc now owns 347,589 shares of the company’s stock worth $15,148,000 after purchasing an additional 95,812 shares during the period. Principal Financial Group Inc. lifted its position in La-Z-Boy by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 223,683 shares of the company’s stock worth $9,746,000 after purchasing an additional 6,908 shares during the period. Finally, Empowered Funds LLC lifted its position in La-Z-Boy by 5.4% in the third quarter. Empowered Funds LLC now owns 202,786 shares of the company’s stock worth $8,706,000 after purchasing an additional 10,318 shares during the period. 99.62% of the stock is owned by institutional investors.

La-Z-Boy Price Performance

Shares of LZB stock opened at $44.88 on Friday. The stock has a market cap of $1.85 billion, a P/E ratio of 15.42 and a beta of 1.35. La-Z-Boy Incorporated has a one year low of $32.00 and a one year high of $48.31. The stock has a fifty day moving average price of $44.73 and a 200 day moving average price of $42.81.

La-Z-Boy (NYSE:LZB) last issued its earnings results on Tuesday, February 18th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. The firm had revenue of $521.78 million during the quarter, compared to analysts’ expectations of $516.47 million. La-Z-Boy had a return on equity of 12.38% and a net margin of 5.92%. Equities research analysts anticipate that La-Z-Boy Incorporated will post 2.99 EPS for the current year.

La-Z-Boy Dividend Announcement

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

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.