Bridge City Capital LLC Increases Stake in La-Z-Boy Incorporated (NYSE:LZB)

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Bridge City Capital LLC lifted its stake in shares of La-Z-Boy Incorporated (NYSE:LZB) by 27.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 78,658 shares of the company’s stock after acquiring an additional 17,041 shares during the period. Bridge City Capital LLC’s holdings in La-Z-Boy were worth $2,642,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its holdings in shares of La-Z-Boy by 1.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 34,705 shares of the company’s stock worth $1,166,000 after acquiring an additional 345 shares during the period. Arizona State Retirement System raised its holdings in shares of La-Z-Boy by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 72,378 shares of the company’s stock worth $2,219,000 after acquiring an additional 400 shares during the period. Royal Bank of Canada raised its holdings in shares of La-Z-Boy by 5.2% during the 2nd quarter. Royal Bank of Canada now owns 9,120 shares of the company’s stock worth $279,000 after acquiring an additional 449 shares during the period. Strs Ohio raised its holdings in shares of La-Z-Boy by 2.1% during the 2nd quarter. Strs Ohio now owns 29,100 shares of the company’s stock worth $892,000 after acquiring an additional 600 shares during the period. Finally, Amundi Pioneer Asset Management Inc. raised its holdings in shares of La-Z-Boy by 1.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 67,799 shares of the company’s stock worth $2,236,000 after acquiring an additional 1,124 shares during the period. Institutional investors and hedge funds own 90.11% of the company’s stock.

NYSE LZB opened at $35.43 on Wednesday. La-Z-Boy Incorporated has a 52 week low of $25.30 and a 52 week high of $36.63. The company has a quick ratio of 1.13, a current ratio of 1.80 and a debt-to-equity ratio of 0.38. The business’s fifty day simple moving average is $32.99 and its 200-day simple moving average is $32.42. The firm has a market cap of $1.64 billion, a PE ratio of 16.19 and a beta of 0.77.

La-Z-Boy (NYSE:LZB) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.09. The firm had revenue of $413.60 million during the quarter, compared to the consensus estimate of $415.95 million. La-Z-Boy had a return on equity of 15.24% and a net margin of 3.85%. The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the company earned $0.39 EPS. Research analysts expect that La-Z-Boy Incorporated will post 2.34 EPS for the current year.

Several research firms have recently commented on LZB. Raymond James upgraded La-Z-Boy from a “market perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a report on Friday, August 23rd. ValuEngine lowered La-Z-Boy from a “hold” rating to a “sell” rating in a report on Thursday, October 10th. TheStreet lowered La-Z-Boy from a “b+” rating to a “c” rating in a report on Wednesday, June 26th. Finally, Zacks Investment Research upgraded La-Z-Boy from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Saturday, August 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.33.

In related news, SVP Darrell Dewain Edwards sold 14,820 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $33.43, for a total transaction of $495,432.60. Following the completion of the sale, the senior vice president now directly owns 59,470 shares of the company’s stock, valued at approximately $1,988,082.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.02% of the stock is currently owned by company insiders.

La-Z-Boy 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 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.

Further Reading: Stock Symbols and CUSIP Explained

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

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