California State Teachers Retirement System increased its holdings in The Marzetti Company (NASDAQ:MZTI – Free Report) by 29.8% during the first quarter, Holdings Channel.com reports. The firm owned 25,187 shares of the company’s stock after acquiring an additional 5,776 shares during the quarter. California State Teachers Retirement System’s holdings in Marzetti were worth $3,484,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in MZTI. Wesbanco Bank Inc. bought a new position in Marzetti during the 4th quarter worth approximately $26,736,000. Principal Financial Group Inc. bought a new stake in Marzetti in the fourth quarter valued at approximately $40,196,000. F m Investments LLC bought a new stake in Marzetti in the fourth quarter valued at approximately $2,417,000. Hsbc Holdings PLC bought a new stake in Marzetti in the fourth quarter valued at approximately $1,839,000. Finally, KBC Group NV boosted its stake in shares of Marzetti by 3,214.6% during the first quarter. KBC Group NV now owns 23,998 shares of the company’s stock valued at $3,320,000 after purchasing an additional 23,274 shares during the period. 66.44% of the stock is owned by institutional investors.
Insider Activity at Marzetti
In other news, insider Luis Viso sold 1,221 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $109.31, for a total value of $133,467.51. Following the completion of the sale, the insider directly owned 1,924 shares of the company’s stock, valued at approximately $210,312.44. This trade represents a 38.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 29.10% of the company’s stock.
Analysts Set New Price Targets
Read Our Latest Report on Marzetti
Marzetti Stock Up 2.9%
Shares of MZTI stock opened at $113.48 on Friday. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 17.76 and a beta of 0.32. The stock has a fifty day moving average of $110.15 and a 200 day moving average of $131.99. The Marzetti Company has a 52 week low of $104.28 and a 52 week high of $190.96.
Marzetti Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th were issued a $1.00 dividend. The ex-dividend date was Friday, June 5th. This represents a $4.00 annualized dividend and a yield of 3.5%. Marzetti’s dividend payout ratio is 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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Want to see what other hedge funds are holding MZTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Marzetti Company (NASDAQ:MZTI – Free Report).
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