Landscape Capital Management L.L.C. Acquires 28,814 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Landscape Capital Management L.L.C. boosted its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 46.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,143 shares of the company’s stock after purchasing an additional 28,814 shares during the period. Landscape Capital Management L.L.C. owned about 0.22% of La-Z-Boy worth $3,913,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. bought a new position in shares of La-Z-Boy during the third quarter valued at $30,000. Quarry LP lifted its holdings in La-Z-Boy by 2,550.0% during the 2nd quarter. Quarry LP now owns 1,378 shares of the company’s stock valued at $51,000 after purchasing an additional 1,326 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in La-Z-Boy during the 2nd quarter valued at about $63,000. Innealta Capital LLC acquired a new position in La-Z-Boy in the second quarter valued at about $69,000. Finally, Quest Partners LLC bought a new stake in La-Z-Boy during the second quarter worth about $91,000. 99.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at La-Z-Boy

In other La-Z-Boy news, Director Janet Kerr sold 3,890 shares of La-Z-Boy stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $40.89, for a total transaction of $159,062.10. Following the completion of the sale, the director now owns 3,372 shares of the company’s stock, valued at approximately $137,881.08. The trade was a 53.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jennifer Lynn Mccurry sold 4,414 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.31, for a total value of $182,342.34. Following the completion of the transaction, the chief accounting officer now directly owns 13,236 shares in the company, valued at approximately $546,779.16. This trade represents a 25.01 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

La-Z-Boy Stock Performance

Shares of LZB stock opened at $42.77 on Thursday. La-Z-Boy Incorporated has a 52 week low of $30.76 and a 52 week high of $45.23. The stock has a market capitalization of $1.79 billion, a PE ratio of 14.80 and a beta of 1.29. The stock’s fifty day moving average is $41.18 and its 200-day moving average is $39.60.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. La-Z-Boy had a net margin of 6.00% and a return on equity of 12.60%. The firm had revenue of $495.50 million during the quarter, compared to analysts’ expectations of $482.23 million. During the same quarter last year, the company posted $0.62 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, analysts forecast that La-Z-Boy Incorporated will post 2.98 earnings per share for the current fiscal year.

La-Z-Boy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.22 per share. This is an increase from La-Z-Boy’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, December 5th. This represents a $0.88 annualized dividend and a yield of 2.06%. La-Z-Boy’s dividend payout ratio is currently 27.68%.

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.