Marzetti (NASDAQ:MZTI) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Marzetti (NASDAQ:MZTI) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

MZTI has been the topic of a number of other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Marzetti in a report on Friday, January 9th. DA Davidson lifted their price target on shares of Marzetti from $179.00 to $184.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $191.33.

Marzetti Price Performance

NASDAQ MZTI opened at $168.09 on Friday. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of 27.29 and a beta of 0.40. Marzetti has a 1-year low of $152.95 and a 1-year high of $198.39. The business’s fifty day moving average price is $167.26 and its 200-day moving average price is $171.57.

Marzetti (NASDAQ:MZTI) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.01. The company had revenue of $482.78 million during the quarter. Marzetti had a return on equity of 18.86% and a net margin of 8.77%.The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.62 EPS. Equities research analysts anticipate that Marzetti will post 6.8 EPS for the current year.

Marzetti Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.4%. Marzetti’s dividend payout ratio is 64.94%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MZTI. Diversified Trust Co increased its stake in Marzetti by 2.0% in the 2nd quarter. Diversified Trust Co now owns 3,769 shares of the company’s stock worth $651,000 after buying an additional 75 shares in the last quarter. Significant Wealth Partners LLC lifted its position in shares of Marzetti by 8.2% in the second quarter. Significant Wealth Partners LLC now owns 1,262 shares of the company’s stock valued at $218,000 after acquiring an additional 96 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Marzetti by 0.4% in the second quarter. Retirement Systems of Alabama now owns 23,587 shares of the company’s stock worth $4,075,000 after acquiring an additional 97 shares during the period. US Bancorp DE grew its position in shares of Marzetti by 2.2% during the second quarter. US Bancorp DE now owns 5,589 shares of the company’s stock worth $966,000 after purchasing an additional 120 shares in the last quarter. Finally, Lodestone Wealth Management LLC bought a new stake in Marzetti during the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

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.