William Blair Investment Management LLC Acquires 83,149 Shares of La-Z-Boy Incorporated $LZB

William Blair Investment Management LLC lifted its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 13.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 719,246 shares of the company’s stock after purchasing an additional 83,149 shares during the period. William Blair Investment Management LLC owned 1.74% of La-Z-Boy worth $26,806,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LZB. Franklin Resources Inc. boosted its position in shares of La-Z-Boy by 208.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,492,928 shares of the company’s stock valued at $51,237,000 after purchasing an additional 1,009,428 shares in the last quarter. M&T Bank Corp bought a new stake in shares of La-Z-Boy during the 4th quarter valued at about $18,433,000. Qube Research & Technologies Ltd boosted its position in shares of La-Z-Boy by 64.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 391,470 shares of the company’s stock valued at $14,551,000 after purchasing an additional 153,498 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of La-Z-Boy by 595.1% during the 4th quarter. SG Americas Securities LLC now owns 148,226 shares of the company’s stock valued at $5,524,000 after purchasing an additional 126,903 shares in the last quarter. Finally, CSM Advisors LLC bought a new stake in shares of La-Z-Boy during the 3rd quarter valued at about $3,958,000. Institutional investors own 99.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LZB. Wall Street Zen upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of La-Z-Boy in a research report on Monday, May 18th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, La-Z-Boy has an average rating of “Moderate Buy” and an average price target of $39.00.

La-Z-Boy Stock Performance

Shares of NYSE:LZB opened at $36.68 on Tuesday. The business’s 50 day simple moving average is $34.13 and its two-hundred day simple moving average is $35.95. The firm has a market cap of $1.50 billion, a P/E ratio of 18.16 and a beta of 1.25. La-Z-Boy Incorporated has a 52-week low of $29.03 and a 52-week high of $43.27.

La-Z-Boy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd will be issued a $0.242 dividend. The ex-dividend date is Tuesday, June 2nd. This represents a $0.97 annualized dividend and a yield of 2.6%. La-Z-Boy’s dividend payout ratio is presently 48.02%.

La-Z-Boy Profile

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.