Comerica Bank Has $689,000 Stock Position in La-Z-Boy Incorporated (NYSE:LZB)

Comerica Bank cut its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 10.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,311 shares of the company’s stock after selling 2,038 shares during the period. Comerica Bank’s holdings in La-Z-Boy were worth $689,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in LZB. International Assets Investment Management LLC acquired a new stake in La-Z-Boy in the 4th quarter valued at $35,000. Allspring Global Investments Holdings LLC bought a new position in shares of La-Z-Boy in the 1st quarter valued at about $70,000. PFG Advisors increased its position in shares of La-Z-Boy by 23.5% in the first quarter. PFG Advisors now owns 8,445 shares of the company’s stock valued at $318,000 after acquiring an additional 1,607 shares during the last quarter. ProShare Advisors LLC raised its holdings in La-Z-Boy by 7.4% during the first quarter. ProShare Advisors LLC now owns 8,742 shares of the company’s stock worth $329,000 after acquiring an additional 599 shares in the last quarter. Finally, MTM Investment Management LLC acquired a new position in La-Z-Boy during the first quarter valued at approximately $330,000. Institutional investors own 99.62% of the company’s stock.

La-Z-Boy Trading Down 2.3 %

NYSE:LZB opened at $40.78 on Tuesday. The firm has a fifty day simple moving average of $39.13 and a 200 day simple moving average of $37.02. La-Z-Boy Incorporated has a 1-year low of $27.92 and a 1-year high of $45.23. The stock has a market capitalization of $1.71 billion, a PE ratio of 14.41 and a beta of 1.29.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings results on Tuesday, June 18th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.25. La-Z-Boy had a return on equity of 13.10% and a net margin of 5.99%. The business had revenue of $553.54 million during the quarter, compared to analysts’ expectations of $516.44 million. During the same quarter last year, the company posted $0.99 earnings per share. La-Z-Boy’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities analysts predict that La-Z-Boy Incorporated will post 3.13 earnings per share for the current fiscal year.

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.