Teacher Retirement System of Texas Purchases 126,371 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Teacher Retirement System of Texas lifted its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 338.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 163,713 shares of the company’s stock after purchasing an additional 126,371 shares during the period. Teacher Retirement System of Texas’ holdings in La-Z-Boy were worth $7,133,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of La-Z-Boy by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 801,140 shares of the company’s stock worth $34,906,000 after purchasing an additional 22,168 shares during the last quarter. Verity Asset Management Inc. bought a new stake in shares of La-Z-Boy during the fourth quarter worth about $275,000. Rhumbline Advisers grew its holdings in shares of La-Z-Boy by 1.1% during the fourth quarter. Rhumbline Advisers now owns 160,292 shares of the company’s stock worth $6,984,000 after purchasing an additional 1,818 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of La-Z-Boy by 3.2% during the fourth quarter. Principal Financial Group Inc. now owns 223,683 shares of the company’s stock worth $9,746,000 after purchasing an additional 6,908 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of La-Z-Boy by 85.8% during the third quarter. Victory Capital Management Inc. now owns 45,267 shares of the company’s stock worth $1,943,000 after purchasing an additional 20,900 shares during the last quarter. 99.62% of the stock is currently owned by institutional investors.

La-Z-Boy Price Performance

Shares of LZB stock opened at $38.45 on Friday. The business’s 50 day simple moving average is $43.89 and its 200 day simple moving average is $42.85. La-Z-Boy Incorporated has a one year low of $32.00 and a one year high of $48.31. The stock has a market capitalization of $1.59 billion, a PE ratio of 13.21 and a beta of 1.38.

La-Z-Boy (NYSE:LZB) last announced its earnings results on Tuesday, February 18th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. La-Z-Boy had a return on equity of 12.38% and a net margin of 5.92%. The business had revenue of $521.78 million for the quarter, compared to analysts’ expectations of $516.47 million. As a group, research analysts expect that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.

La-Z-Boy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Tuesday, March 4th. La-Z-Boy’s payout ratio is presently 30.24%.

La-Z-Boy Company 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.