Shares of La-Z-Boy Incorporated (NYSE:LZB) have received an average recommendation of “Hold” from the five analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $35.00.
A number of equities analysts have issued reports on the company. ValuEngine lowered La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Zacks Investment Research lowered La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. TheStreet lowered La-Z-Boy from a “b+” rating to a “c” rating in a research report on Wednesday. Finally, Sidoti lowered La-Z-Boy from a “buy” rating to a “neutral” rating and cut their target price for the company from $38.00 to $35.00 in a research report on Thursday, June 6th.
Shares of LZB opened at $30.82 on Friday. The firm has a 50 day simple moving average of $31.89. La-Z-Boy has a 52-week low of $25.30 and a 52-week high of $39.15. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 14.40 and a beta of 0.88.
The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Thursday, May 30th were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.69%. La-Z-Boy’s dividend payout ratio (DPR) is 24.30%.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of La-Z-Boy by 2.9% in the fourth quarter. BlackRock Inc. now owns 7,011,688 shares of the company’s stock valued at $194,294,000 after buying an additional 198,714 shares during the period. Norges Bank acquired a new stake in shares of La-Z-Boy in the fourth quarter valued at $29,919,000. Boston Partners lifted its holdings in shares of La-Z-Boy by 1.4% in the first quarter. Boston Partners now owns 998,944 shares of the company’s stock valued at $32,955,000 after buying an additional 14,032 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of La-Z-Boy by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 735,212 shares of the company’s stock valued at $20,374,000 after buying an additional 8,839 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of La-Z-Boy by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 696,483 shares of the company’s stock valued at $19,299,000 after buying an additional 29,648 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.
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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