La-Z-Boy Incorporated (NYSE:LZB) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. trimmed its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 5.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 112,955 shares of the company’s stock after selling 6,911 shares during the quarter. Phocas Financial Corp.’s holdings in La-Z-Boy were worth $4,849,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of La-Z-Boy during the 1st quarter worth about $70,000. Sei Investments Co. boosted its position in shares of La-Z-Boy by 26.6% during the first quarter. Sei Investments Co. now owns 15,309 shares of the company’s stock worth $576,000 after buying an additional 3,219 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of La-Z-Boy by 26.5% in the 1st quarter. Russell Investments Group Ltd. now owns 46,019 shares of the company’s stock valued at $1,731,000 after buying an additional 9,635 shares during the period. ProShare Advisors LLC lifted its stake in La-Z-Boy by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 8,742 shares of the company’s stock worth $329,000 after acquiring an additional 599 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in La-Z-Boy by 7.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 27,479 shares of the company’s stock valued at $1,034,000 after acquiring an additional 1,975 shares during the period. Institutional investors and hedge funds own 99.62% of the company’s stock.

La-Z-Boy Stock Down 0.0 %

NYSE LZB opened at $42.78 on Tuesday. The stock has a market capitalization of $1.79 billion, a PE ratio of 15.22 and a beta of 1.29. The firm has a 50 day moving average of $40.97 and a two-hundred day moving average of $39.44. La-Z-Boy Incorporated has a 52 week low of $30.76 and a 52 week high of $45.23.

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

Analyst Ratings Changes

Separately, Sidoti cut 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.

Insider Activity at La-Z-Boy

In other news, Director Janet Kerr sold 3,890 shares of the 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 completion of the sale, the director now owns 3,372 shares in the company, valued at approximately $137,881.08. This represents a 53.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jennifer Lynn Mccurry sold 4,414 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $41.31, for a total value 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. This trade represents a 25.01 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

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.