La-Z-Boy (NYSE:LZB) Sets New 1-Year High – Still a Buy?

La-Z-Boy Incorporated (NYSE:LZB) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $46.47 and last traded at $45.57, with a volume of 245019 shares traded. The stock had previously closed at $44.65.

La-Z-Boy Price Performance

The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 14.80 and a beta of 1.34. The firm has a 50 day simple moving average of $42.37 and a two-hundred day simple moving average of $40.89.

La-Z-Boy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were issued a $0.22 dividend. This is a positive change from La-Z-Boy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.88 annualized dividend and a dividend yield of 2.06%. La-Z-Boy’s payout ratio is 30.45%.

Institutional Investors Weigh In On La-Z-Boy

Hedge funds have recently modified their holdings of the business. State Street Corp lifted its position in La-Z-Boy by 0.4% in the 3rd quarter. State Street Corp now owns 1,672,009 shares of the company’s stock valued at $71,779,000 after acquiring an additional 6,925 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of La-Z-Boy by 7.5% in the 2nd 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 period. American Century Companies Inc. lifted its holdings in shares of La-Z-Boy by 14.5% in the second quarter. American Century Companies Inc. now owns 982,668 shares of the company’s stock valued at $36,634,000 after purchasing an additional 124,409 shares in the last quarter. Systematic Financial Management LP boosted its position in shares of La-Z-Boy by 9.4% during the third quarter. Systematic Financial Management LP now owns 563,684 shares of the company’s stock worth $24,199,000 after buying an additional 48,263 shares during the period. Finally, abrdn plc acquired a new position in shares of La-Z-Boy during the third quarter worth about $10,809,000. Institutional investors and hedge funds own 99.62% of the company’s stock.

About La-Z-Boy

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.