Tributary Capital Management LLC raised its position in La-Z-Boy Incorporated (NYSE:LZB) by 45.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 411,237 shares of the company’s stock after acquiring an additional 127,742 shares during the quarter. Tributary Capital Management LLC owned approximately 0.88% of La-Z-Boy worth $13,567,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of LZB. Piedmont Investment Advisors Inc. lifted its position in shares of La-Z-Boy by 3.6% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 11,141 shares of the company’s stock worth $309,000 after buying an additional 387 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of La-Z-Boy by 9.4% in the 4th quarter. Hsbc Holdings PLC now owns 10,087 shares of the company’s stock valued at $279,000 after acquiring an additional 865 shares during the period. Texas Permanent School Fund increased its holdings in shares of La-Z-Boy by 4.3% in the 4th quarter. Texas Permanent School Fund now owns 30,647 shares of the company’s stock valued at $849,000 after acquiring an additional 1,271 shares during the period. Meeder Asset Management Inc. increased its holdings in shares of La-Z-Boy by 44.9% in the 4th quarter. Meeder Asset Management Inc. now owns 4,111 shares of the company’s stock valued at $114,000 after acquiring an additional 1,274 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of La-Z-Boy by 27.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 7,090 shares of the company’s stock valued at $196,000 after acquiring an additional 1,524 shares during the period. Institutional investors own 92.41% of the company’s stock.
In other La-Z-Boy news, CEO Kurt L. Darrow sold 100,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $34.39, for a total value of $3,439,000.00. Following the transaction, the chief executive officer now directly owns 540,642 shares in the company, valued at approximately $18,592,678.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Darrell Dewain Edwards sold 1,777 shares of the company’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $36.02, for a total transaction of $64,007.54. Following the completion of the transaction, the insider now owns 31,947 shares in the company, valued at $1,150,730.94. The disclosure for this sale can be found here. Insiders sold a total of 230,598 shares of company stock worth $7,842,411 over the last quarter. Insiders own 4.55% of the company’s stock.
La-Z-Boy (NYSE:LZB) last issued its earnings results on Tuesday, February 19th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.55 by $0.08. The company had revenue of $467.58 million for the quarter, compared to analyst estimates of $457.17 million. La-Z-Boy had a net margin of 5.92% and a return on equity of 15.94%. Equities research analysts anticipate that La-Z-Boy Incorporated will post 2.18 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 30th will be given a $0.13 dividend. The ex-dividend date is Wednesday, May 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.53%. La-Z-Boy’s dividend payout ratio is presently 28.73%.
LZB has been the topic of a number of recent research reports. ValuEngine cut shares of La-Z-Boy from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Zacks Investment Research raised shares of La-Z-Boy from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Saturday, February 23rd. Finally, Sidoti set a $38.00 price objective on shares of La-Z-Boy and gave the company a “buy” rating in a research note on Wednesday, February 20th.
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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 Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.
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