Phocas Financial Corp. Sells 96,079 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Phocas Financial Corp. trimmed its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 85.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,876 shares of the company’s stock after selling 96,079 shares during the period. Phocas Financial Corp.’s holdings in La-Z-Boy were worth $735,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in La-Z-Boy in the third quarter valued at approximately $3,684,000. abrdn plc purchased a new stake in shares of La-Z-Boy during the 3rd quarter valued at $10,809,000. Assetmark Inc. acquired a new stake in shares of La-Z-Boy in the 3rd quarter worth $30,000. Versor Investments LP purchased a new position in La-Z-Boy during the 3rd quarter worth $446,000. Finally, Victory Capital Management Inc. increased its position in La-Z-Boy by 85.8% during the 3rd quarter. Victory Capital Management Inc. now owns 45,267 shares of the company’s stock valued at $1,943,000 after buying an additional 20,900 shares in the last quarter. 99.62% of the stock is currently owned by institutional investors.

La-Z-Boy Stock Performance

La-Z-Boy stock opened at $45.93 on Wednesday. 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 cap of $1.90 billion, a PE ratio of 15.78 and a beta of 1.35. The stock has a 50-day moving average of $44.77 and a two-hundred day moving average of $42.87.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. The firm had revenue of $521.78 million during the quarter, compared to analyst estimates of $516.47 million. La-Z-Boy had a net margin of 5.92% and a return on equity of 12.38%. As a group, sell-side analysts predict that La-Z-Boy Incorporated will post 2.99 EPS for the current fiscal year.

La-Z-Boy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Tuesday, March 4th. La-Z-Boy’s dividend payout ratio (DPR) is presently 30.24%.

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.