La-Z-Boy Incorporated (NYSE:LZB) Stock Holdings Lessened by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd cut its stake in shares of La-Z-Boy Incorporated (NYSE:LZB) by 50.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 31,408 shares of the company’s stock after selling 31,820 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in La-Z-Boy were worth $1,348,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Pacer Advisors Inc. lifted its holdings in shares of La-Z-Boy by 7.5% during the second quarter. Pacer Advisors Inc. now owns 1,394,677 shares of the company’s stock valued at $51,994,000 after purchasing an additional 97,680 shares during the last quarter. American Century Companies Inc. lifted its stake in La-Z-Boy by 14.5% during the second quarter. American Century Companies Inc. now owns 982,668 shares of the company’s stock valued at $36,634,000 after buying an additional 124,409 shares in the last quarter. abrdn plc purchased a new stake in La-Z-Boy during the third quarter valued at about $10,809,000. Empowered Funds LLC boosted its holdings in shares of La-Z-Boy by 5.4% in the third quarter. Empowered Funds LLC now owns 202,786 shares of the company’s stock worth $8,706,000 after buying an additional 10,318 shares during the period. Finally, Millennium Management LLC increased its position in shares of La-Z-Boy by 125.6% in the second quarter. Millennium Management LLC now owns 174,249 shares of the company’s stock worth $6,496,000 after acquiring an additional 97,023 shares in the last quarter. 99.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Sidoti downgraded shares of La-Z-Boy from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a research report on Wednesday, August 21st.

La-Z-Boy Trading Down 1.1 %

Shares of LZB stock opened at $45.26 on Wednesday. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 15.66 and a beta of 1.29. La-Z-Boy Incorporated has a 1-year low of $30.76 and a 1-year high of $46.35. The stock’s fifty day simple moving average is $41.33 and its 200-day simple moving average is $39.84.

La-Z-Boy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.94%. The ex-dividend date is Thursday, December 5th. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.20. La-Z-Boy’s payout ratio is 30.45%.

Insider Activity

In other La-Z-Boy news, Director Janet Kerr sold 3,890 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $40.89, for a total value of $159,062.10. Following the transaction, the director now owns 3,372 shares in the company, valued at $137,881.08. The trade was a 53.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.70% of the stock is owned by corporate 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 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.