Meeder Asset Management Inc. Boosts Stake in La-Z-Boy Incorporated (NYSE:LZB)

Meeder Asset Management Inc. lifted its stake in shares of La-Z-Boy Incorporated (NYSE:LZB) by 228.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 33,811 shares of the company’s stock after acquiring an additional 23,510 shares during the period. Meeder Asset Management Inc. owned approximately 0.08% of La-Z-Boy worth $1,452,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of La-Z-Boy during the first quarter valued at approximately $70,000. Sei Investments Co. grew its holdings in La-Z-Boy by 26.6% in the 1st quarter. Sei Investments Co. now owns 15,309 shares of the company’s stock worth $576,000 after acquiring an additional 3,219 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of La-Z-Boy by 26.5% in the first quarter. Russell Investments Group Ltd. now owns 46,019 shares of the company’s stock valued at $1,731,000 after acquiring an additional 9,635 shares during the period. ProShare Advisors LLC raised its stake in shares of La-Z-Boy by 7.4% during the first quarter. ProShare Advisors LLC now owns 8,742 shares of the company’s stock valued at $329,000 after acquiring an additional 599 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of La-Z-Boy by 7.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 27,479 shares of the company’s stock worth $1,034,000 after purchasing an additional 1,975 shares during the period. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Sidoti cut La-Z-Boy from a “buy” rating to a “neutral” rating and set a $43.00 price objective for the company. in a report on Wednesday, August 21st.

Insider Buying and Selling

In related news, Director Janet Kerr sold 3,890 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $40.89, for a total transaction of $159,062.10. Following the sale, the director now owns 3,372 shares of the company’s stock, valued at $137,881.08. The trade was a 53.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jennifer Lynn Mccurry sold 4,414 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.31, for a total transaction of $182,342.34. Following the transaction, the chief accounting officer now directly owns 13,236 shares of the company’s stock, valued at $546,779.16. This represents a 25.01 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

La-Z-Boy Trading Down 1.2 %

Shares of La-Z-Boy stock opened at $42.25 on Wednesday. La-Z-Boy Incorporated has a 12-month low of $30.76 and a 12-month high of $45.23. The company has a market cap of $1.77 billion, a P/E ratio of 15.04 and a beta of 1.29. The company’s fifty day simple moving average is $41.12 and its two-hundred day simple moving average is $39.57.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings results on Tuesday, August 20th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. La-Z-Boy had a net margin of 5.89% and a return on equity of 12.90%. The company had revenue of $495.50 million during the quarter, compared to the consensus estimate of $482.23 million. During the same period in the prior year, the firm earned $0.62 earnings per share. La-Z-Boy’s revenue was up 2.9% on a year-over-year basis. Analysts predict that La-Z-Boy Incorporated will post 2.98 EPS for the current fiscal year.

About La-Z-Boy

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.