24,600 Shares in La-Z-Boy Incorporated (NYSE:LZB) Acquired by King Street Capital Management L.P.

King Street Capital Management L.P. acquired a new position in La-Z-Boy Incorporated (NYSE:LZBGet Rating) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 24,600 shares of the company’s stock, valued at approximately $893,000.

Other large investors have also modified their holdings of the company. Barclays PLC boosted its position in La-Z-Boy by 50.0% during the fourth quarter. Barclays PLC now owns 66,618 shares of the company’s stock valued at $2,419,000 after purchasing an additional 22,216 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of La-Z-Boy during the 4th quarter worth approximately $1,012,000. Invesco Ltd. raised its stake in shares of La-Z-Boy by 15.9% during the 4th quarter. Invesco Ltd. now owns 196,400 shares of the company’s stock worth $7,132,000 after acquiring an additional 26,884 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of La-Z-Boy by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 554,829 shares of the company’s stock worth $20,146,000 after acquiring an additional 18,979 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of La-Z-Boy by 38.3% during the 4th quarter. JPMorgan Chase & Co. now owns 242,028 shares of the company’s stock worth $8,788,000 after acquiring an additional 67,000 shares in the last quarter. 96.00% of the stock is owned by institutional investors.

Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Wednesday, May 11th. Zacks Investment Research raised La-Z-Boy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 20th. TheStreet lowered shares of La-Z-Boy from a “b” rating to a “c+” rating in a research note on Friday, March 4th. Finally, Raymond James cut their price target on shares of La-Z-Boy from $46.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, February 17th.

Shares of LZB stock traded up $0.73 during trading hours on Thursday, hitting $25.32. The company’s stock had a trading volume of 12,630 shares, compared to its average volume of 537,539. The business has a fifty day moving average of $26.77 and a 200-day moving average of $31.51. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 8.78 and a beta of 0.99. La-Z-Boy Incorporated has a twelve month low of $22.54 and a twelve month high of $43.92.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Thursday, June 2nd will be paid a dividend of $0.165 per share. The ex-dividend date is Wednesday, June 1st. This represents a $0.66 annualized dividend and a dividend yield of 2.61%. La-Z-Boy’s dividend payout ratio is currently 22.84%.

About La-Z-Boy (Get Rating)

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 and Retail 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, and entertainment centers.

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Institutional Ownership by Quarter for La-Z-Boy (NYSE:LZB)

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