Michael Adam Leggett, who serves as the Senior Vice President and Chief Supply Chain Officer for La-Z-Boy INC (NASDAQ:LZB), has executed a series of share transactions in late June 2026. The most significant of these occurred on June 24, 2026, when he sold 9,000 common shares of the company. The total value of this transaction reached approximately $374,917. The shares were disposed of at a weighted average price of $41.6575, with the individual transaction prices ranging from $41.65 to $41.82.
Prior to this larger sale, on June 23, 2026, Mr. Leggett also disposed of 526 common shares. These shares were sold at a price of $40.30 per share, resulting in a total value of $21,197. This earlier transaction was specifically related to the payment of tax liabilities.
Following these recent divestments, Mr. Leggett's direct ownership stake in La-Z-Boy stands at 47,551 common shares. The sale of his shares comes at a time when LZB stock has exhibited considerable momentum. Over the past month, the stock has risen by 5.5% and is currently trading near its 52-week high of $44.90. According to InvestingPro analysis, the stock currently appears slightly overvalued relative to its Fair Value.
These insider transactions follow the release of La-Z-Boy's fiscal fourth-quarter results, which surpassed Wall Street expectations. The company reported adjusted earnings of $1.26 per share, significantly higher than the anticipated $0.82 per share. Revenue for the quarter was $570.34 million, slightly exceeding forecasts. Despite sales remaining flat year over year, La-Z-Boy’s adjusted operating margin improved to 9.9%. Management highlighted stronger retail execution, new store openings, and acquisitions as key growth drivers.
However, the company has also noted potential challenges ahead. Analysts are aware of these developments, but management anticipates a softer first quarter due to inflation and seasonal pressures on margins. These recent developments reflect La-Z-Boy’s ability to navigate a challenging market environment.