La-Z-Boy (NYSE:LZB) CAO Jennifer Lynn Mccurry Sells 3,715 Shares of Stock

La-Z-Boy Incorporated (NYSE:LZB) CAO Jennifer Lynn Mccurry sold 3,715 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $41.05, for a total transaction of $152,500.75. Following the completion of the transaction, the chief accounting officer directly owned 16,763 shares of the company’s stock, valued at approximately $688,121.15. This trade represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Jennifer Lynn Mccurry also recently made the following trade(s):

• On Thursday, June 18th, Jennifer Lynn Mccurry sold 3,410 shares of La-Z-Boy stock. The shares were sold at an average price of $40.60, for a total transaction of $138,446.00.

La-Z-Boy Price Performance

Shares of LZB stock opened at $41.14 on Friday. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 1.25 and a beta of 1.26. The company’s fifty day simple moving average is $36.82 and its two-hundred day simple moving average is $36.47. La-Z-Boy Incorporated has a 1 year low of $29.03 and a 1 year high of $44.90.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings results on Tuesday, June 16th. The company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.44. La-Z-Boy had a return on equity of 11.97% and a net margin of 4.80%.The firm had revenue of $570.34 million during the quarter, compared to analyst estimates of $569.23 million. During the same period last year, the company earned $0.36 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. Equities research analysts anticipate that La-Z-Boy Incorporated will post 2.98 EPS for the current year.

La-Z-Boy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd were issued a $0.242 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.97 annualized dividend and a dividend yield of 2.4%. La-Z-Boy’s dividend payout ratio (DPR) is presently 39.27%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LZB shares. Wall Street Zen lowered shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings upgraded shares of La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, La-Z-Boy currently has an average rating of “Moderate Buy” and an average target price of $39.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. lifted its holdings in shares of La-Z-Boy by 208.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,492,928 shares of the company’s stock worth $51,237,000 after acquiring an additional 1,009,428 shares during the last quarter. M&T Bank Corp bought a new position in shares of La-Z-Boy during the 4th quarter valued at $18,433,000. Goldman Sachs Group Inc. raised its position in La-Z-Boy by 100.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 627,638 shares of the company’s stock worth $23,392,000 after purchasing an additional 313,932 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in La-Z-Boy by 46.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 895,003 shares of the company’s stock worth $33,357,000 after purchasing an additional 283,364 shares during the period. Finally, Qube Research & Technologies Ltd lifted its stake in La-Z-Boy by 64.5% in the second quarter. Qube Research & Technologies Ltd now owns 391,470 shares of the company’s stock worth $14,551,000 after purchasing an additional 153,498 shares during the last quarter. 99.62% of the stock is currently owned by institutional investors.

About La-Z-Boy

La-Z-Boy Incorporated (NYSE: LZB) is a leading U.S. manufacturer and marketer of residential furniture, best known for its upholstered recliners, sofas, stationary chairs and sleeper sofas. The company offers a broad range of products in both fabric and leather, complemented by occasional tables, desks, lamps and other home furnishings through its branded retail network.

Founded in 1927 by cousins Edward Knabusch and Edwin Shoemaker in Monroe, Michigan, La-Z-Boy pioneered the modern reclining chair.