Phocas Financial Corp. Acquires 2,411 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Phocas Financial Corp. grew its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,334 shares of the company’s stock after acquiring an additional 2,411 shares during the period. Phocas Financial Corp. owned 0.29% of La-Z-Boy worth $4,627,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Quarry LP boosted its holdings in shares of La-Z-Boy by 184.4% during the 1st quarter. Quarry LP now owns 1,018 shares of the company’s stock worth $30,000 after buying an additional 660 shares during the period. International Assets Investment Management LLC bought a new stake in shares of La-Z-Boy during the 4th quarter worth $35,000. Tower Research Capital LLC TRC boosted its holdings in La-Z-Boy by 112.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,493 shares of the company’s stock valued at $71,000 after purchasing an additional 1,317 shares during the period. Point72 Middle East FZE bought a new stake in La-Z-Boy in the 4th quarter valued at $80,000. Finally, Captrust Financial Advisors boosted its holdings in La-Z-Boy by 84.7% in the 1st quarter. Captrust Financial Advisors now owns 3,290 shares of the company’s stock valued at $87,000 after purchasing an additional 1,509 shares during the period. 99.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of La-Z-Boy from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th.

La-Z-Boy Stock Down 2.3 %

La-Z-Boy stock traded down $0.80 during mid-day trading on Friday, reaching $33.97. The company had a trading volume of 310,507 shares, compared to its average volume of 465,549. La-Z-Boy Incorporated has a 52 week low of $25.12 and a 52 week high of $39.87. The company has a 50 day moving average of $36.73 and a 200-day moving average of $34.43. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 12.54 and a beta of 1.16.

La-Z-Boy (NYSE:LZB) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.08). La-Z-Boy had a net margin of 5.73% and a return on equity of 13.55%. The company had revenue of $500.40 million during the quarter, compared to the consensus estimate of $523.09 million. During the same period last year, the company earned $0.91 earnings per share. La-Z-Boy’s revenue for the quarter was down 12.6% on a year-over-year basis. On average, analysts predict that La-Z-Boy Incorporated will post 2.72 earnings per share for the current fiscal year.

La-Z-Boy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Monday, March 4th. La-Z-Boy’s dividend payout ratio is 29.52%.

Insider Activity

In other news, SVP Michael Adam Leggett sold 3,077 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $37.08, for a total value of $114,095.16. Following the completion of the transaction, the senior vice president now owns 21,519 shares in the company, valued at approximately $797,924.52. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.70% of the company’s stock.

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.