Paralel Advisors LLC bought a new stake in The Marzetti Company (NASDAQ:MZTI – Free Report) in the second quarter, HoldingsChannel.com reports. The fund bought 16,745 shares of the company’s stock, valued at approximately $1,912,000.
Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP bought a new position in Marzetti during the second quarter valued at $158,000. Virtus Advisers LLC bought a new stake in shares of Marzetti in the 2nd quarter worth about $199,000. Advisors Capital Management LLC bought a new stake in shares of Marzetti in the 2nd quarter worth about $387,000. First National Bank of Omaha purchased a new stake in shares of Marzetti during the 2nd quarter valued at about $2,102,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Marzetti during the 2nd quarter valued at about $3,675,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.
Marzetti Stock Down 3.4%
NASDAQ MZTI opened at $112.89 on Friday. The company has a fifty day moving average of $111.38 and a two-hundred day moving average of $128.37. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 17.67 and a beta of 0.32. The Marzetti Company has a 52 week low of $104.28 and a 52 week high of $190.96.
Marzetti Dividend Announcement
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the stock. Stephens lowered their price target on shares of Marzetti from $160.00 to $140.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. DA Davidson raised Marzetti to a “hold” rating in a research note on Monday, July 6th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Marzetti in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $169.33.
Get Our Latest Report on Marzetti
Insider Activity at Marzetti
In related news, insider Luis Viso sold 1,221 shares of Marzetti stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $109.31, for a total transaction of $133,467.51. Following the completion of the transaction, the insider directly owned 1,924 shares of the company’s stock, valued at approximately $210,312.44. The trade was a 38.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 29.10% of the company’s stock.
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.
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