Gabelli Funds LLC Lowers Stock Holdings in La-Z-Boy Incorporated (NYSE:LZB)

Gabelli Funds LLC lessened its stake in shares of La-Z-Boy Incorporated (NYSE:LZB) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,500 shares of the company’s stock after selling 4,000 shares during the period. Gabelli Funds LLC’s holdings in La-Z-Boy were worth $2,200,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LZB. Barclays PLC increased its holdings in shares of La-Z-Boy by 244.6% during the third quarter. Barclays PLC now owns 75,256 shares of the company’s stock valued at $3,230,000 after acquiring an additional 53,419 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of La-Z-Boy in the third quarter worth approximately $352,000. Franklin Resources Inc. grew its holdings in shares of La-Z-Boy by 5.7% during the third quarter. Franklin Resources Inc. now owns 26,820 shares of the company’s stock valued at $1,074,000 after buying an additional 1,454 shares during the last quarter. Nordea Investment Management AB increased its position in shares of La-Z-Boy by 3.7% during the fourth quarter. Nordea Investment Management AB now owns 178,281 shares of the company’s stock valued at $7,814,000 after acquiring an additional 6,388 shares in the last quarter. Finally, KBC Group NV raised its holdings in La-Z-Boy by 8.3% in the 4th quarter. KBC Group NV now owns 9,593 shares of the company’s stock worth $418,000 after acquiring an additional 734 shares during the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.

La-Z-Boy Trading Up 2.0 %

Shares of LZB opened at $38.44 on Friday. La-Z-Boy Incorporated has a 12 month low of $32.00 and a 12 month high of $48.31. The business’s fifty day simple moving average is $40.89 and its two-hundred day simple moving average is $42.36. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 13.21 and a beta of 1.31.

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

La-Z-Boy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.29%. The ex-dividend date was Tuesday, March 4th. La-Z-Boy’s dividend payout ratio is currently 30.24%.

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.