Dean Investment Associates LLC Has $1.52 Million Holdings in La-Z-Boy Incorporated (LZB)

Dean Investment Associates LLC decreased its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 66.7% during the first quarter, HoldingsChannel.com reports. The fund owned 46,180 shares of the company’s stock after selling 92,320 shares during the quarter. Dean Investment Associates LLC’s holdings in La-Z-Boy were worth $1,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. US Bancorp DE increased its stake in La-Z-Boy by 52.0% in the first quarter. US Bancorp DE now owns 11,409 shares of the company’s stock valued at $377,000 after acquiring an additional 3,902 shares during the last quarter. 361 Capital LLC bought a new position in La-Z-Boy in the first quarter valued at $2,890,000. JPMorgan Chase & Co. increased its stake in La-Z-Boy by 28.1% in the first quarter. JPMorgan Chase & Co. now owns 64,301 shares of the company’s stock valued at $2,121,000 after acquiring an additional 14,097 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in La-Z-Boy by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 18,138 shares of the company’s stock valued at $598,000 after acquiring an additional 328 shares during the last quarter. Finally, Mason Street Advisors LLC boosted its position in La-Z-Boy by 3.0% during the first quarter. Mason Street Advisors LLC now owns 14,985 shares of the company’s stock valued at $494,000 after buying an additional 441 shares during the period. 89.58% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. ValuEngine cut shares of La-Z-Boy from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, Sidoti set a $38.00 target price on shares of La-Z-Boy and gave the stock a “buy” rating in a report on Wednesday, February 20th.

In other news, CEO Kurt L. Darrow sold 100,000 shares of La-Z-Boy stock in a transaction on Friday, March 1st. The shares were sold at an average price of $34.39, for a total transaction of $3,439,000.00. Following the transaction, the chief executive officer now owns 540,642 shares in the company, valued at approximately $18,592,678.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Douglas Collier sold 49,635 shares of La-Z-Boy stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $32.71, for a total transaction of $1,623,560.85. Following the transaction, the insider now owns 65,594 shares in the company, valued at approximately $2,145,579.74. The disclosure for this sale can be found here. Insiders have sold a total of 216,007 shares of company stock worth $7,321,200 in the last quarter. Corporate insiders own 4.55% of the company’s stock.

Shares of LZB stock opened at $32.18 on Friday. La-Z-Boy Incorporated has a 12-month low of $25.30 and a 12-month high of $39.15. The company has a market capitalization of $1.55 billion, a P/E ratio of 17.78 and a beta of 0.92.

La-Z-Boy (NYSE:LZB) last issued its earnings results on Tuesday, February 19th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.08. The company had revenue of $467.58 million for the quarter, compared to analysts’ expectations of $457.17 million. La-Z-Boy had a net margin of 5.92% and a return on equity of 15.94%. As a group, analysts expect that La-Z-Boy Incorporated will post 2.21 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 30th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Wednesday, May 29th. La-Z-Boy’s dividend payout ratio is presently 28.73%.

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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 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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Want to see what other hedge funds are holding LZB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for La-Z-Boy Incorporated (NYSE:LZB).

Institutional Ownership by Quarter for La-Z-Boy (NYSE:LZB)

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