US Bancorp DE Boosts Position in The Marzetti Company $MZTI

US Bancorp DE boosted its position in shares of The Marzetti Company (NASDAQ:MZTI) by 2.2% during the second quarter, Holdings Channel reports. The firm owned 5,589 shares of the company’s stock after buying an additional 120 shares during the quarter. US Bancorp DE’s holdings in Marzetti were worth $966,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. KLP Kapitalforvaltning AS boosted its position in Marzetti by 15.0% during the second quarter. KLP Kapitalforvaltning AS now owns 4,600 shares of the company’s stock worth $795,000 after purchasing an additional 600 shares in the last quarter. Naples Global Advisors LLC boosted its position in Marzetti by 18.2% during the second quarter. Naples Global Advisors LLC now owns 3,175 shares of the company’s stock worth $549,000 after purchasing an additional 490 shares in the last quarter. Bartlett & CO. Wealth Management LLC purchased a new stake in Marzetti during the second quarter worth $740,000. Truist Financial Corp boosted its position in Marzetti by 17.6% during the second quarter. Truist Financial Corp now owns 24,873 shares of the company’s stock worth $4,297,000 after purchasing an additional 3,727 shares in the last quarter. Finally, Significant Wealth Partners LLC boosted its position in Marzetti by 8.2% during the second quarter. Significant Wealth Partners LLC now owns 1,262 shares of the company’s stock worth $218,000 after purchasing an additional 96 shares in the last quarter. 66.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MZTI has been the topic of a number of research analyst reports. Benchmark boosted their target price on Marzetti from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, August 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Marzetti in a research report on Tuesday. Finally, Stephens restated an “equal weight” rating and issued a $190.00 price objective on shares of Marzetti in a research report on Thursday, September 11th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $206.00.

Marzetti Trading Up 1.9%

Marzetti stock opened at $168.33 on Friday. The firm has a market capitalization of $4.63 billion, a P/E ratio of 27.73 and a beta of 0.43. The stock has a fifty day moving average price of $176.61 and a 200 day moving average price of $174.18. The Marzetti Company has a 52 week low of $156.14 and a 52 week high of $202.63.

Marzetti (NASDAQ:MZTI) last released its quarterly earnings data on Thursday, August 21st. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. The company had revenue of $475.43 million for the quarter, compared to the consensus estimate of $455.26 million. Marzetti had a return on equity of 18.87% and a net margin of 8.77%.The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $1.34 EPS. As a group, equities analysts predict that The Marzetti Company will post 6.8 EPS for the current year.

Marzetti Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th were issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, September 8th. Marzetti’s dividend payout ratio (DPR) is 62.60%.

Marzetti Company Profile

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.