Insider Selling: La-Z-Boy (NYSE:LZB) Insider Sells $154,250.00 in Stock

La-Z-Boy Incorporated (NYSE:LZB) insider Robert Sundy, II sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $30.85, for a total value of $154,250.00. Following the completion of the transaction, the insider directly owned 59,297 shares of the company’s stock, valued at approximately $1,829,312.45. This trade represents a 7.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

La-Z-Boy Stock Down 0.5%

LZB opened at $30.18 on Thursday. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 15.32, a P/E/G ratio of 1.09 and a beta of 1.23. La-Z-Boy Incorporated has a twelve month low of $29.03 and a twelve month high of $44.90. The company has a 50-day simple moving average of $36.88 and a 200 day simple moving average of $36.14.

La-Z-Boy (NYSE:LZB) last released its earnings results on Tuesday, August 18th. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). La-Z-Boy had a net margin of 3.86% and a return on equity of 11.79%. The firm had revenue of $475.69 million during the quarter, compared to the consensus estimate of $501.44 million. During the same period in the prior year, the business earned $0.47 earnings per share. La-Z-Boy’s quarterly revenue was down 3.4% compared to the same quarter last year. Sell-side analysts anticipate that La-Z-Boy Incorporated will post 2.53 EPS for the current fiscal year.

La-Z-Boy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Thursday, September 3rd were paid a $0.242 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Thursday, September 3rd. La-Z-Boy’s dividend payout ratio (DPR) is 49.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on LZB shares. Weiss Ratings cut La-Z-Boy from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, August 20th. KeyCorp decreased their price target on La-Z-Boy from $46.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, August 20th. Wall Street Zen cut La-Z-Boy from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Zacks Research downgraded La-Z-Boy from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 20th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $39.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. WINTON GROUP Ltd acquired a new stake in La-Z-Boy during the 2nd quarter worth approximately $3,896,000. Integrated Wealth Concepts LLC acquired a new position in La-Z-Boy in the 2nd quarter valued at approximately $119,000. Squarepoint Ops LLC bought a new position in shares of La-Z-Boy during the second quarter valued at $2,052,000. Allworth Financial LP raised its stake in shares of La-Z-Boy by 47.4% during the second quarter. Allworth Financial LP now owns 2,803 shares of the company’s stock valued at $112,000 after acquiring an additional 902 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of La-Z-Boy during the second quarter worth $534,000. Institutional investors and hedge funds own 99.62% of the company’s stock.

About La-Z-Boy

La-Z-Boy Incorporated is a residential furniture manufacturer and retailer best known for its upholstered recliners. The company offers a broad range of furniture for living rooms, family rooms, bedrooms and other areas of the home, including recliners, sofas, sectionals, chairs, ottomans, tables, beds and complementary home furnishings.

Founded in 1927 in Monroe, Michigan, La-Z-Boy built its reputation around its reclining chair and has expanded into a full-service home furnishings company.