The Marzetti Company $MZTI Holdings Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in The Marzetti Company (NASDAQ:MZTI) by 0.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 212,720 shares of the company’s stock after purchasing an additional 1,707 shares during the quarter. Bank of New York Mellon Corp’s holdings in Marzetti were worth $36,752,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new stake in Marzetti during the first quarter valued at about $29,000. Headlands Technologies LLC purchased a new stake in shares of Marzetti in the 1st quarter valued at approximately $44,000. State of Wyoming acquired a new position in Marzetti in the 1st quarter worth approximately $60,000. Quarry LP grew its position in Marzetti by 1,350.0% during the 1st quarter. Quarry LP now owns 377 shares of the company’s stock worth $66,000 after purchasing an additional 351 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Marzetti by 100.0% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 400 shares of the company’s stock worth $69,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 66.44% of the company’s stock.

Marzetti Price Performance

Shares of NASDAQ MZTI opened at $174.10 on Thursday. The Marzetti Company has a one year low of $152.95 and a one year high of $198.39. The business’s 50-day moving average price is $171.40 and its two-hundred day moving average price is $172.01. The company has a market capitalization of $4.79 billion, a P/E ratio of 28.68 and a beta of 0.41.

Marzetti (NASDAQ:MZTI) last announced its quarterly earnings results on Thursday, August 21st. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.31 by $0.02. The business had revenue of $475.43 million during the quarter, compared to analysts’ expectations of $455.26 million. Marzetti had a return on equity of 18.87% and a net margin of 8.77%.The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.34 EPS. On average, equities analysts anticipate that The Marzetti Company will post 6.8 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on MZTI shares. Stephens reaffirmed an “equal weight” rating and issued a $190.00 target price on shares of Marzetti in a research report on Thursday, September 11th. Weiss Ratings restated a “hold (c)” rating on shares of Marzetti in a research report on Tuesday, October 14th. DA Davidson lifted their target price on Marzetti from $179.00 to $184.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Benchmark increased their price target on shares of Marzetti from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $191.33.

About Marzetti

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.