New York State Teachers Retirement System Sells 5,229 Shares of La-Z-Boy Incorporated (NYSE:LZB)

New York State Teachers Retirement System trimmed its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 6.1% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 80,826 shares of the company’s stock after selling 5,229 shares during the quarter. New York State Teachers Retirement System owned about 0.19% of La-Z-Boy worth $3,470,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of LZB. abrdn plc bought a new stake in shares of La-Z-Boy in the third quarter worth approximately $10,809,000. Allspring Global Investments Holdings LLC purchased a new stake in La-Z-Boy in the third quarter worth approximately $3,684,000. Cardinal Capital Management raised its stake in La-Z-Boy by 11.3% during the 3rd quarter. Cardinal Capital Management now owns 41,186 shares of the company’s stock valued at $1,768,000 after buying an additional 4,188 shares during the last quarter. SG Americas Securities LLC lifted its position in La-Z-Boy by 159.5% during the third quarter. SG Americas Securities LLC now owns 17,588 shares of the company’s stock valued at $755,000 after purchasing an additional 10,810 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of La-Z-Boy in the second quarter worth about $400,000. Institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Performance

NYSE:LZB opened at $40.80 on Thursday. The firm has a 50-day simple moving average of $40.71 and a 200-day simple moving average of $38.96. La-Z-Boy Incorporated has a one year low of $29.41 and a one year high of $45.23. The firm has a market cap of $1.71 billion, a P/E ratio of 14.52 and a beta of 1.29.

La-Z-Boy (NYSE:LZB) last posted its earnings results on Tuesday, August 20th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The company had revenue of $495.50 million during the quarter, compared to analyst estimates of $482.23 million. La-Z-Boy had a return on equity of 12.90% and a net margin of 5.89%. La-Z-Boy’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. On average, research analysts predict that La-Z-Boy Incorporated will post 2.98 EPS for the current fiscal year.

La-Z-Boy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.80 dividend on an annualized basis and a yield of 1.96%. La-Z-Boy’s dividend payout ratio is presently 28.47%.

Insider Buying and Selling at La-Z-Boy

In related news, CAO Jennifer Lynn Mccurry sold 4,414 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.31, for a total transaction of $182,342.34. Following the completion of the transaction, the chief accounting officer now owns 13,236 shares in the company, valued at $546,779.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Janet Kerr sold 3,890 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $40.89, for a total transaction of $159,062.10. Following the transaction, the director now owns 3,372 shares in the company, valued at $137,881.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Jennifer Lynn Mccurry sold 4,414 shares of La-Z-Boy stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $41.31, for a total transaction of $182,342.34. Following the completion of the sale, the chief accounting officer now owns 13,236 shares of the company’s stock, valued at $546,779.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

Separately, Sidoti lowered La-Z-Boy from a “buy” rating to a “neutral” rating and set a $43.00 price target on the stock. in a report on Wednesday, August 21st.

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.