Fox Run Management L.L.C. acquired a new stake in shares of The Marzetti Company (NASDAQ:MZTI – Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,681 shares of the company’s stock, valued at approximately $1,098,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cerity Partners LLC acquired a new position in Marzetti during the 4th quarter valued at approximately $3,519,000. LPL Financial LLC acquired a new position in Marzetti during the 4th quarter valued at approximately $1,935,000. Franklin Resources Inc. acquired a new position in Marzetti during the 4th quarter valued at approximately $489,000. O Shaughnessy Asset Management LLC acquired a new position in Marzetti during the 4th quarter valued at approximately $285,000. Finally, JPMorgan Chase & Co. acquired a new position in Marzetti during the 4th quarter worth $9,824,000. Institutional investors and hedge funds own 66.44% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the company. DA Davidson reduced their price target on Marzetti from $184.00 to $168.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. Stephens reduced their price target 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. Finally, Weiss Ratings lowered Marzetti from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $169.33.
Marzetti Stock Performance
MZTI opened at $110.01 on Wednesday. The Marzetti Company has a one year low of $105.80 and a one year high of $190.96. The stock’s fifty day moving average is $124.07 and its 200-day moving average is $148.71. The company has a market capitalization of $3.02 billion, a PE ratio of 17.22 and a beta of 0.33.
Marzetti Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, June 5th. Marzetti’s payout ratio is currently 62.60%.
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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