abrdn Increases Stake in La-Z-Boy
abrdn PLC has boosted its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund now owns 7,629,904 shares of the furniture maker’s stock, valued at approximately $201.85 million, after purchasing an additional 104,291 shares during the period.
Several other hedge funds and institutional investors have also modified their holdings of LZB. Rhumbline Advisers increased its stake by 0.4% in the first quarter. Millennium Management L.L.C. increased its stake by 192.4% during the second quarter. Dimensional Fund Advisors LP raised its position by 4.6% in the first quarter. Renaissance Technologies LLC lifted its position by 22.2% in the second quarter. Finally, State Street Corp raised its position by 3.8% in the first quarter. Institutional investors own 92.54% of the company’s stock.
Shares of NYSE LZB opened at $26.47 on Thursday. The stock has a fifty-day moving average of $25.46 and a 200-day moving average of $23.61. La-Z-Boy Incorporated has a 52-week low of $18.72 and a 52-week high of $29.58. The company has a market cap of $1.72 billion, a PE ratio of 12.34, a PEG ratio of 0.93 and a beta of 1.63.
La-Z-Boy (NYSE:LZB) last released its earnings results on Wednesday, November 22nd. The furniture maker reported $0.84 EPS for the quarter, beating the consensus estimate of $0.73 by $0.11. The company had revenue of $579.80 million for the quarter, compared to analyst estimates of $582.24 million. La-Z-Boy had a return on equity of 17.96% and a net margin of 6.50%. The company's quarterly revenue was down 7.4% year-over-year. During the same period in the prior year, the business earned $0.94 EPS. Sell-side analysts anticipate that La-Z-Boy Incorporated will post 2.66 earnings per share for the current fiscal year.
