The Marzetti Company (NASDAQ:MZTI – Get Free Report)’s stock price hit a new 52-week low on Friday . The company traded as low as $105.80 and last traded at $107.35, with a volume of 34602 shares. The stock had previously closed at $106.47.
Analysts Set New Price Targets
Several research firms recently weighed in on MZTI. Stephens cut their price objective on Marzetti from $160.00 to $140.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. Weiss Ratings lowered Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Finally, DA Davidson lowered their price target on Marzetti from $184.00 to $168.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $169.33.
View Our Latest Analysis on MZTI
Marzetti Stock Performance
Marzetti Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, June 5th. Marzetti’s payout ratio is presently 62.60%.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. CIBC Private Wealth Group LLC acquired a new position in Marzetti during the 4th quarter worth $32,000. Parkside Financial Bank & Trust bought a new stake in shares of Marzetti in the 4th quarter valued at $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Marzetti in the 4th quarter valued at $33,000. Caitong International Asset Management Co. Ltd bought a new position in Marzetti during the 4th quarter worth about $33,000. Finally, Rockefeller Capital Management L.P. bought a new position in Marzetti during the 4th quarter worth about $35,000. Institutional investors and hedge funds 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.
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