Fintel reports that Wellington Management Group Llp has filed a 13G/A form with the SEC disclosing ownership of 0.02MM shares of La-Z-Boy Incorporated (LZB). This represents 0.05% of the company.
In their previous filing dated February 4, 2022 they reported 2.59MM shares and 5.89% of the company, a decrease in shares of 99.13% and a decrease in total ownership of 5.84% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 47.18% Upside
As of February 6, 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 47.18% from its latest reported closing price of $29.80.
The projected annual revenue for La-Z-Boy is $2,317MM, a decrease of 6.25%. The projected annual EPS is $3.35, a decrease of 15.13%.
Fund Sentiment
There are 507 funds or institutions reporting positions in La-Z-Boy. This is a decrease of 17 owner(s) or 3.24%.
Average portfolio weight of all funds dedicated to US:LZB is 0.1030%, a decrease of 2.7896%. Total shares owned by institutions decreased in the last three months by 1.62% to 50,969K shares.
What are large shareholders doing?
IJR - iShares Core S&P Small-Cap ETF holds 3,187,480 shares representing 7.39% ownership of the company. In it's prior filing, the firm reported owning 3,018,386 shares, representing an increase of 5.30%. The firm increased its portfolio allocation in LZB by 2.03% over the last quarter.
Silvercrest Asset Management Group holds 2,113,088 shares representing 4.90% ownership of the company. In it's prior filing, the firm reported owning 2,094,790 shares, representing an increase of 0.87%. The firm increased its portfolio allocation in LZB by 3.90% over the last quarter.
Lsv Asset Management holds 1,792,293 shares representing 4.15% ownership of the company. In it's prior filing, the firm reported owning 1,715,493 shares, representing an increase of 4.29%. The firm increased its portfolio allocation in LZB by 8.06% over the last quarter.
Macquarie Group holds 1,648,269 shares representing 3.82% ownership of the company. In it's prior filing, the firm reported owning 1,630,275 shares, representing an increase of 1.09%. The firm increased its portfolio allocation in LZB by 5.18% over the last quarter.
Brown Advisory holds 1,643,302 shares representing 3.81% ownership of the company. In it's prior filing, the firm reported owning 1,669,674 shares, representing a decrease of 1.60%. The firm increased its portfolio allocation in LZB by 122.84% over the last quarter.
La-Z-Boy Declares $0.16 Dividend
La-Z-Boy said on August 23, 2022 that its board of directors declared a regular quarterly dividend of $0.16 per share ($0.66 annualized). Shareholders of record as of September 6, 2022 received the payment on September 15, 2022. Previously, the company paid $0.16 per share.
At the current share price of $29.80 / share, the stock's dividend yield is 2.21%. Looking back five years and taking a sample every week, the average dividend yield has been 1.82%, the lowest has been 1.26%, and the highest has been 3.24%. The standard deviation of yields is 0.45 (n=205).
The current dividend yield is 0.89 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.18. 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.
The company's 3-Year dividend growth rate is 0.30%, demonstrating that it has increased its dividend over time.
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.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
