La-Z-Boy Incorporated (NYSE:LZB) Shares Sold by APG Asset Management N.V.

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APG Asset Management N.V. lessened its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 53.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,800 shares of the company’s stock after selling 60,100 shares during the period. APG Asset Management N.V. owned about 0.11% of La-Z-Boy worth $1,551,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in LZB. Two Sigma Investments LP acquired a new stake in shares of La-Z-Boy in the 1st quarter valued at $329,000. Two Sigma Advisers LP grew its stake in shares of La-Z-Boy by 11.6% during the first quarter. Two Sigma Advisers LP now owns 60,600 shares of the company’s stock worth $1,245,000 after purchasing an additional 6,300 shares in the last quarter. Silvercrest Asset Management Group LLC increased its holdings in La-Z-Boy by 11.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 2,698,395 shares of the company’s stock valued at $55,451,000 after buying an additional 284,010 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in La-Z-Boy by 17.7% in the first quarter. Thrivent Financial for Lutherans now owns 53,372 shares of the company’s stock valued at $1,097,000 after buying an additional 8,043 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in La-Z-Boy by 1.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 355,500 shares of the company’s stock worth $7,306,000 after buying an additional 4,000 shares during the last quarter. 89.75% of the stock is currently owned by institutional investors.

Shares of NYSE:LZB opened at $27.01 on Wednesday. The stock has a 50-day simple moving average of $26.14 and a 200-day simple moving average of $26.88. The stock has a market capitalization of $1.20 billion, a P/E ratio of 16.37 and a beta of 1.08. La-Z-Boy Incorporated has a 1 year low of $15.61 and a 1 year high of $37.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.23 and a current ratio of 1.84.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings results on Tuesday, June 23rd. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.29. La-Z-Boy had a net margin of 4.55% and a return on equity of 14.17%. The firm had revenue of $367.30 million for the quarter, compared to analysts’ expectations of $384.96 million. During the same period in the previous year, the company posted $0.64 earnings per share. La-Z-Boy’s revenue was down 19.1% compared to the same quarter last year. Analysts predict that La-Z-Boy Incorporated will post 1.02 earnings per share for the current year.

Several equities research analysts have recently weighed in on the company. ValuEngine raised La-Z-Boy from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. KeyCorp restated a “hold” rating on shares of La-Z-Boy in a research report on Wednesday, June 24th. TheStreet cut La-Z-Boy from a “b-” rating to a “c” rating in a report on Friday, March 6th. Zacks Investment Research upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Wednesday. Finally, Stifel Nicolaus boosted their target price on La-Z-Boy from $25.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. La-Z-Boy currently has a consensus rating of “Hold” and an average target price of $33.00.

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.

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

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