La-Z-Boy Incorporated (LZB) : Botty Investors reduced its stake in La-Z-Boy Incorporated by 0.7% during the most recent quarter end. The investment management company now holds a total of 854,929 shares of La-Z-Boy Incorporated which is valued at $21,398,873 after selling 6,000 shares in La-Z-Boy Incorporated , the firm said in a disclosure report filed with the SEC on May 10, 2016.La-Z-Boy Incorporated makes up approximately 11.90% of Botty Investors’s portfolio.
Other Hedge Funds, Including , Blackrock Institutional Trust Company N.a. reduced its stake in LZB by selling 100,103 shares or 6.45% in the most recent quarter. The Hedge Fund company now holds 1,450,735 shares of LZB which is valued at $36,311,897. La-Z-Boy Incorporated makes up approx 0.01% of Blackrock Institutional Trust Company N.a.’s portfolio.Numeric Investors reduced its stake in LZB by selling 302,837 shares or 84.31% in the most recent quarter. The Hedge Fund company now holds 56,358 shares of LZB which is valued at $1,472,071. La-Z-Boy Incorporated makes up approx 0.02% of Numeric Investors’s portfolio.Nationwide Fund Advisors reduced its stake in LZB by selling 342 shares or 0.82% in the most recent quarter. The Hedge Fund company now holds 41,253 shares of LZB which is valued at $1,077,528.Smith Graham Investment Advisors Lp boosted its stake in LZB in the latest quarter, The investment management firm added 11,680 additional shares and now holds a total of 330,139 shares of La-Z-Boy Incorporated which is valued at $8,540,696. La-Z-Boy Incorporated makes up approx 1.12% of Smith Graham Investment Advisors Lp’s portfolio.
La-Z-Boy Incorporated opened for trading at $25.12 and hit $25.34 on the upside on Monday, eventually ending the session at $25.13, with a gain of 0.40% or 0.1 points. The heightened volatility saw the trading volume jump to 1,85,132 shares. Company has a market cap of $1,254 M.
On the company’s financial health, La-Z-Boy Incorporated reported $0.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Feb 17, 2016. Analyst had a consensus of $0.40. The company had revenue of $384.00 million for the quarter, compared to analysts expectations of $377.63 million. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.
Investors should note that on May 3, 2016, La-Z-Boy Incorporated announced a cash dividend of $0.1000. The company’s management has announced May 23, 2016 as the ex-dividend date and fixed the record date on May 25, 2016. The payable date has been fixed on Jun 10, 2016.
Many Wall Street Analysts have commented on La-Z-Boy Incorporated. La-Z-Boy Incorporated was Initiated by Sidoti to “Buy” on Mar 2, 2016.
La-Z-Boy Incorporated manufactures markets imports distributes and retails upholstery furniture products. In addition the Company imports distributes and retails accessories and case goods (wood) furniture products. The Company operates through segments including the Upholstery segment the Casegoods segment and the Retail. Its Upholstery segment consists of two operating units: La-Z-Boy and its England subsidiary. The Upholstery segment manufactures imports and exports upholstered furniture. The Company’s Casegoods segment is an importer marketer and distributor of casegoods (wood) furniture such as bedroom sets dining room sets entertainment centers and occasional pieces and also manufactures some coordinated upholstered furniture. The Casegoods segment consists of three brands: American Drew Hammary and Kincaid. Its Retail segment consists of 110 company owned La-Z-Boy Furniture Galleries stores. The Retail segment primarily sells upholstered furniture.