Marzetti (NASDAQ:MZTI – Get Free Report)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Stephens in a note issued to investors on Wednesday,Benzinga reports. They currently have a $140.00 target price on the stock. Stephens’ target price would suggest a potential upside of 19.30% from the stock’s previous close.
Other equities research analysts also recently issued reports about the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Marzetti in a research report on Monday, August 17th. DA Davidson raised Marzetti to a “hold” rating in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $154.00.
Check Out Our Latest Report on Marzetti
Marzetti Price Performance
Marzetti (NASDAQ:MZTI – Get Free Report) last announced its earnings results on Tuesday, August 25th. The company reported $1.46 earnings per share (EPS) for the quarter. Marzetti had a net margin of 9.06% and a return on equity of 18.12%. The company had revenue of $465.03 million during the quarter.
Insiders Place Their Bets
In other news, insider Luis Viso sold 1,221 shares of Marzetti stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $109.31, for a total transaction of $133,467.51. Following the transaction, the insider owned 1,924 shares in the company, valued at approximately $210,312.44. The trade was a 38.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 29.10% of the stock is owned by insiders.
Institutional Investors Weigh In On Marzetti
A number of institutional investors have recently made changes to their positions in MZTI. Royal Bank of Canada increased its position in Marzetti by 3.8% during the 1st quarter. Royal Bank of Canada now owns 32,626 shares of the company’s stock valued at $5,710,000 after purchasing an additional 1,186 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Marzetti by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,637 shares of the company’s stock valued at $2,036,000 after purchasing an additional 500 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Marzetti by 16.1% during the first quarter. Goldman Sachs Group Inc. now owns 221,350 shares of the company’s stock worth $38,736,000 after buying an additional 30,731 shares during the period. United Services Automobile Association acquired a new stake in shares of Marzetti during the first quarter worth $231,000. Finally, Empowered Funds LLC acquired a new stake in shares of Marzetti during the first quarter worth $2,310,000. Institutional investors 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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