La-Z-Boy (NYSE:LZB) Shares Gap Down to $40.70

La-Z-Boy Incorporated (NYSE:LZB)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $40.70, but opened at $39.88. La-Z-Boy shares last traded at $40.01, with a volume of 132,861 shares trading hands.

La-Z-Boy Stock Down 2.1 %

The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 13.39 and a beta of 1.25. The stock’s 50-day simple moving average is $35.16 and its 200 day simple moving average is $36.02.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings results on Tuesday, June 18th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.25. The firm had revenue of $553.54 million for the quarter, compared to analyst estimates of $516.44 million. La-Z-Boy had a net margin of 5.99% and a return on equity of 13.10%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 earnings per share. As a group, equities research analysts anticipate that La-Z-Boy Incorporated will post 2.8 earnings per share for the current year.

La-Z-Boy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.11%. La-Z-Boy’s payout ratio is 28.27%.

Hedge Funds Weigh In On La-Z-Boy

Large investors have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new position in shares of La-Z-Boy during the fourth quarter worth approximately $35,000. Allspring Global Investments Holdings LLC acquired a new position in shares of La-Z-Boy during the first quarter worth approximately $70,000. Vest Financial LLC acquired a new position in shares of La-Z-Boy during the fourth quarter worth approximately $241,000. Quadrature Capital Ltd acquired a new position in shares of La-Z-Boy during the third quarter worth approximately $251,000. Finally, PFG Advisors lifted its position in shares of La-Z-Boy by 23.5% during the first quarter. PFG Advisors now owns 8,445 shares of the company’s stock worth $318,000 after purchasing an additional 1,607 shares in the last quarter. 99.62% of the stock is currently owned by institutional investors and hedge funds.

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.