La-Z-Boy Incorporated (NYSE:LZB) Short Interest Update

La-Z-Boy Incorporated (NYSE:LZB) was the target of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 1,680,000 shares, a drop of 16.8% from the November 15th total of 2,020,000 shares. Based on an average daily trading volume, of 429,800 shares, the short-interest ratio is currently 3.9 days. Currently, 4.1% of the company’s shares are short sold.

Hedge Funds Weigh In On La-Z-Boy

Several institutional investors have recently modified their holdings of the business. Assetmark Inc. purchased a new position in La-Z-Boy in the third quarter valued at $30,000. TD Private Client Wealth LLC purchased a new position in shares of La-Z-Boy in the 3rd quarter valued at about $43,000. Quarry LP grew its position in shares of La-Z-Boy by 2,550.0% during the second quarter. Quarry LP now owns 1,378 shares of the company’s stock worth $51,000 after buying an additional 1,326 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of La-Z-Boy during the second quarter worth approximately $63,000. Finally, Innealta Capital LLC purchased a new stake in shares of La-Z-Boy during the second quarter worth approximately $69,000. Institutional investors and hedge funds own 99.62% of the company’s stock.

Wall Street Analyst Weigh In

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

La-Z-Boy Stock Performance

NYSE LZB opened at $44.47 on Friday. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 15.39 and a beta of 1.34. The firm has a 50 day simple moving average of $42.08 and a 200-day simple moving average of $40.72. La-Z-Boy has a one year low of $32.00 and a one year high of $46.35.

La-Z-Boy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.98%. The ex-dividend date is Thursday, December 5th. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.20. La-Z-Boy’s dividend payout ratio (DPR) is currently 30.45%.

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.