Marzetti (NASDAQ:MZTI – Get Free Report)‘s stock had its “equal weight” rating reiterated by Stephens in a report released on Wednesday, Benzinga reports. They currently have a $135.00 price objective on the stock. Stephens‘s price objective indicates a potential upside of 22.86% from the stock’s current price.
Other research analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marzetti in a research report on Monday, August 17th. DA Davidson cut their target price on Marzetti from $168.00 to $130.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 26th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $132.50.
Get Our Latest Analysis on MZTI
Marzetti Price Performance
Marzetti stock opened at $109.88 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 0.67 and a debt-to-equity ratio of 0.18. The company has a fifty day simple moving average of $104.97 and a 200-day simple moving average of $124.60. The stock has a market cap of $3.00 billion, a P/E ratio of 16.15 and a beta of 0.34. Marzetti has a 12-month low of $97.00 and a 12-month high of $176.26.
Marzetti (NASDAQ:MZTI – Get Free Report) last posted its earnings results on Tuesday, November 3rd. The company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.23). Marzetti had a net margin of 9.93% and a return on equity of 18.22%. The business had revenue of $481.52 million during the quarter. During the same quarter in the previous year, the business earned $1.74 earnings per share. Marzetti’s revenue was down 2.4% compared to the same quarter last year.
Insiders Place Their Bets
In other Marzetti news, CEO Luis Viso sold 997 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $100.81, for a total value of $100,507.57. Following the completion of the transaction, the chief executive officer owned 1,047 shares in the company, valued at $105,548.07. This represents a 48.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 29.30% of the stock is currently owned by company insiders.
Institutional Trading of Marzetti
Several institutional investors and hedge funds have recently made changes to their positions in MZTI. Rockefeller Capital Management L.P. purchased a new position in Marzetti during the 4th quarter worth approximately $35,000. NewEdge Advisors LLC increased its position in Marzetti by 237.5% during the second quarter. NewEdge Advisors LLC now owns 216 shares of the company’s stock worth $25,000 after buying an additional 152 shares during the period. IFP Advisors Inc lifted its stake in Marzetti by 796.3% in the second quarter. IFP Advisors Inc now owns 242 shares of the company’s stock valued at $28,000 after buying an additional 215 shares during the last quarter. Versant Capital Management Inc lifted its stake in Marzetti by 447.8% in the second quarter. Versant Capital Management Inc now owns 378 shares of the company’s stock valued at $43,000 after buying an additional 309 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of Marzetti in the first quarter valued at approximately $56,000. 66.44% of the stock is owned by hedge funds and other institutional investors.
Marzetti News Roundup
Here are the key news stories impacting Marzetti this week:
- Positive Sentiment: Marzetti and Tajín plan to bring Tajín-inspired flavor to shelf-stable dressings, which could broaden the company’s product offering. Article: Marzetti and Tajín announce dressing collaboration
- Negative Sentiment: First-quarter EPS was $1.14, below the $1.37 consensus estimate and down from $1.74 a year earlier. Revenue was $481.52 million, a 2.4% year-over-year decline; coverage attributed pressure on sales and profit in part to the Cyclospora outbreak. The earnings miss and deteriorating year-over-year results are likely weighing on investor sentiment. Article: Why Marzetti’s Q1 profit fell
About Marzetti
T. Marzetti Company is a food manufacturer and marketer based in Columbus, Ohio. The company develops, produces and distributes specialty food products for retail and foodservice customers, with a portfolio focused on dressings, dips, sauces, frozen breads and related prepared foods.
Its brand portfolio includes Marzetti, Simply Dressed, New York Bakery, Sister Schubert’s, Flatout, Cardini’s and Girard’s, among others. These products are sold through grocery retailers and other retail channels, while the company also supplies restaurants, institutional foodservice operators and other commercial customers.
The company traces its roots to 1896, when Teresa Marzetti opened a restaurant in Columbus, Ohio.
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