La-Z-Boy Incorporated (LZB) Stake Increased by Stone Ridge Asset Management LLC

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Stone Ridge Asset Management LLC grew its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 5.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,187 shares of the company’s stock after buying an additional 1,786 shares during the quarter. Stone Ridge Asset Management LLC owned 0.07% of La-Z-Boy worth $1,049,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Bruderman Asset Management LLC purchased a new stake in shares of La-Z-Boy during the second quarter worth approximately $115,000. Meeder Asset Management Inc. boosted its stake in La-Z-Boy by 96.2% during the second quarter. Meeder Asset Management Inc. now owns 4,021 shares of the company’s stock worth $123,000 after buying an additional 1,972 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in La-Z-Boy during the third quarter worth $176,000. Cozad Asset Management Inc. acquired a new position in La-Z-Boy during the second quarter worth $214,000. Finally, NumerixS Investment Technologies Inc boosted its stake in La-Z-Boy by 46.4% during the second quarter. NumerixS Investment Technologies Inc now owns 7,259 shares of the company’s stock worth $224,000 after buying an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 90.91% of the company’s stock.

In other news, insider John Douglas Collier sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $31.66, for a total value of $158,300.00. Following the transaction, the insider now owns 75,070 shares of the company’s stock, valued at approximately $2,376,716.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Otis S. Sawyer sold 88,806 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $34.62, for a total value of $3,074,463.72. Following the completion of the transaction, the insider now directly owns 71,324 shares in the company, valued at approximately $2,469,236.88. The disclosure for this sale can be found here. Insiders have sold 217,635 shares of company stock worth $7,417,668 in the last three months. 4.55% of the stock is currently owned by corporate insiders.

A number of equities analysts have weighed in on the company. Zacks Investment Research lowered La-Z-Boy from a “hold” rating to a “sell” rating in a research note on Wednesday, October 31st. ValuEngine lowered La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Finally, Stifel Nicolaus boosted their price objective on La-Z-Boy from $33.00 to $35.00 and gave the stock a “hold” rating in a research note on Thursday, August 23rd.

NYSE LZB opened at $28.99 on Friday. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 16.02 and a beta of 1.11. La-Z-Boy Incorporated has a fifty-two week low of $27.25 and a fifty-two week high of $39.15.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings data on Tuesday, August 21st. The company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.14. The company had revenue of $384.70 million for the quarter, compared to analyst estimates of $368.17 million. La-Z-Boy had a return on equity of 15.33% and a net margin of 5.43%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 earnings per share. Equities analysts forecast that La-Z-Boy Incorporated will post 1.98 EPS for the current fiscal year.

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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 Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.

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Institutional Ownership by Quarter for La-Z-Boy (NYSE:LZB)

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