La-Z-Boy (LZB) Declares $0.18 Dividend
La-Z-Boy said on August 22, 2023 that its board of directors declared a regular quarterly dividend of $0.18 per share ($0.73 annualized). Previously, the company paid $0.18 per share.
Shares must be purchased before the ex-div date of September 5, 2023 to qualify for the dividend. Shareholders of record as of September 6, 2023 will receive the payment on September 15, 2023.
At the current share price of $29.63 / share, the stock's dividend yield is 2.45%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.94%, the lowest has been 1.26%, and the highest has been 3.24%. The standard deviation of yields is 0.49 (n=204).
The current dividend yield is 1.06 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.23. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
- Read the Ultimate Guide to Dividend Harvesting.
What is the Fund Sentiment?
There are 547 funds or institutions reporting positions in La-Z-Boy. This is an increase of 8 owner(s) or 1.48% in the last quarter. Average portfolio weight of all funds dedicated to LZB is 0.12%, an increase of 8.39%. Total shares owned by institutions decreased in the last three months by 0.34% to 50,630K shares. 
The put/call ratio of LZB is 0.75, indicating a bullish outlook.
Analyst Price Forecast Suggests 48.03% Upside
As of August 1, 2023, the average one-year price target for La-Z-Boy is 43.86. The forecasts range from a low of 43.43 to a high of $45.15. The average price target represents an increase of 48.03% from its latest reported closing price of 29.63.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for La-Z-Boy is 2,234MM, an increase of 0.31%. The projected annual non-GAAP EPS is 2.90.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 3,137K shares representing 7.25% ownership of the company. In it's prior filing, the firm reported owning 3,189K shares, representing a decrease of 1.67%. The firm increased its portfolio allocation in LZB by 21.79% over the last quarter.
Silvercrest Asset Management Group holds 1,990K shares representing 4.60% ownership of the company. In it's prior filing, the firm reported owning 1,929K shares, representing an increase of 3.07%. The firm decreased its portfolio allocation in LZB by 4.56% over the last quarter.
Lsv Asset Management holds 1,887K shares representing 4.36% ownership of the company. In it's prior filing, the firm reported owning 1,783K shares, representing an increase of 5.49%. The firm increased its portfolio allocation in LZB by 2.45% over the last quarter.
Macquarie Group holds 1,733K shares representing 4.00% ownership of the company. In it's prior filing, the firm reported owning 1,714K shares, representing an increase of 1.11%. The firm increased its portfolio allocation in LZB by 2.98% over the last quarter.
William Blair Investment Management holds 1,335K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 1,311K shares, representing an increase of 1.87%. The firm decreased its portfolio allocation in LZB by 7.64% over the last quarter.
La-Z-Boy Background Information
(This description is provided by the company.)
La-Z-Boy Incorporated is one of the world's leading residential furniture producers, marketing furniture for every room of the home. The Wholesale segment includes England, La-Z-Boy, American Drew®, Hammary®, and Kincaid®. The company-owned Retail segment includes 158 of the 351 La-Z-Boy Furniture Galleries® stores. Joybird is an e-commerce retailer and manufacturer of upholstered furniture. The corporation's branded distribution network is dedicated to selling La-Z-Boy Incorporated products and brands, and includes 351 stand-alone La-Z-Boy Furniture Galleries® stores and 563 independent Comfort Studio® locations, in addition to in-store gallery programs for the company's Kincaid and England operating units.
Additional reading:
- News Release Dated
- La-Z-Boy Incorporated 2022 Omnibus Incentive Plan Sample Award Agreement effective June 26, 2023
- Preferability letter from PricewaterhouseCoopers LLP dated August 22, 2023
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