Vanguard Reports 13.7% Stake in La-Z-Boy, Down From Prior Filing

TL;DR

**Vanguard trimmed its La-Z-Boy stake to 13.7%, watch for investor sentiment shifts.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, indicating its ownership of La-Z-Boy Inc. common stock as of December 29, 2023. Vanguard reported beneficial ownership of 5,750,750 shares, representing 13.7% of La-Z-Boy's outstanding common stock. This filing shows a slight decrease in Vanguard's reported ownership percentage from a previous filing, which could signal a minor shift in institutional confidence or portfolio rebalancing, potentially impacting investor sentiment for La-Z-Boy stock.

Why It Matters

This filing shows Vanguard remains a significant institutional holder of La-Z-Boy, but a slight reduction in their reported percentage could be interpreted as a minor bearish signal by some investors.

Risk Assessment

Risk Level: low — This filing is routine for large institutional investors and does not indicate any immediate or significant risk to the company or its stock.

Analyst Insight

Investors should note Vanguard's continued significant stake, but also the slight reduction in percentage, and consider it as one data point among many when evaluating La-Z-Boy's institutional support.

Key Numbers

• 5,750,750 — Shares Beneficially Owned (Represents the total number of La-Z-Boy common shares Vanguard holds.)
• 13.7% — Ownership Percentage (Indicates Vanguard's significant, but slightly reduced, stake in La-Z-Boy.)
• December 29, 2023 — Event Date (The specific date for which the ownership data is reported.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• La-Z-Boy Inc. (company) — subject company, manufacturer of household furniture
• 5,750,750 shares (dollar_amount) — total shares beneficially owned by Vanguard
• 13.7% (dollar_amount) — percentage of La-Z-Boy's common stock owned by Vanguard
• December 29, 2023 (date) — date of event requiring the filing

Forward-Looking Statements

• Vanguard will maintain a significant, but potentially fluctuating, institutional stake in La-Z-Boy Inc. (The Vanguard Group) — high confidence, target: Next 12 months

FAQ

Filing Documents

• tv01321-lazboyinc.htm (SC 13G/A) — 11KB
• 0001104659-24-021327.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: La-Z-Boy Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: One La-Z-Boy Drive Monroe, MI 48162-5138

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 505336107

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR