5 Best Furniture-Related Stocks to Buy Now

2. La-Z-Boy Incorporated (NYSE:LZB)

Number of Hedge Fund Holders: 16

La-Z-Boy Incorporated (NYSE:LZB) is an upholstery furniture products manufacturer and distributor that is headquartered in Monroe, Michigan, the United States. Its products include recliners, sofas, and chairs.

La-Z-Boy Incorporated (NYSE:LZB) set a new record by the end of its first fiscal year when it reported an 8.7% operating margin for an operating income of $52.6 million. The quarter saw its retail function perform strongly, as sales through the channel grew by 30% annually.

La-Z-Boy Incorporated (NYSE:LZB) is also aiming for strong revenue growth for its fiscal year 2022, with management guiding a growth ranging between 23% and 25%. Insider Monkey’s Q2 2022 survey of 895 hedge funds saw 16 investors in the firm.

Out of these, Dmitry Balyasny’s Balyasny Asset Management is La-Z-Boy Incorporated (NYSE:LZB)’s largest investor. It owns 281,305 shares that are worth $6.6 million.