Michael Leggett, Senior Vice President & Chief Supply Chain Officer of La-Z-Boy Inc (LZB, Financial), has sold 3,077 shares of the company on March 21, 2024, according to a recent SEC filing. The transaction was executed at an average price of $37.08 per share, resulting in a total value of $114,095.16.
La-Z-Boy Inc is a well-known manufacturer, marketer, and retailer of upholstery products, and also manufactures and distributes case goods (wood) furniture products. The company operates through three segments: the Upholstery segment, the Casegoods segment, and the Retail segment. La-Z-Boy's business model includes wholesale distribution, as well as retail operations through company-owned stores and independent furniture retailers.
Over the past year, the insider has sold a total of 3,077 shares of La-Z-Boy Inc and has not made any purchases of the stock. This latest transaction continues a trend of insider sales for the company, with a total of 2 insider sells and no insider buys occurring over the same timeframe.
On the valuation front, La-Z-Boy Inc's shares were trading at $37.08 on the day of the insider's sale, giving the company a market capitalization of $1.563 billion. The price-earnings ratio of the company stands at 13.58, which is below the industry median of 18.03 and also below the company's historical median price-earnings ratio.
According to the GuruFocus Value chart, La-Z-Boy Inc has a price-to-GF-Value ratio of 1.32, indicating that the stock is significantly overvalued when compared to its GF Value of $28.06. The GF Value is a proprietary intrinsic value estimate from GuruFocus, which is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates from analysts.
Investors often monitor insider transactions as they can provide insights into the company's performance and management's expectations. The recent sale by Michael Leggett may attract the attention of current and potential shareholders as they evaluate their investment in La-Z-Boy Inc.
For more detailed information about the insider's transaction, interested parties can refer to the SEC filing through the provided link.
SEC FilingThis article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
