Corient Private Wealth LP acquired a new position in The Marzetti Company (NASDAQ:MZTI – Free Report) in the second quarter, Holdings Channel.com reports. The fund acquired 50,600 shares of the company’s stock, valued at approximately $5,776,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MZTI. CIBC Private Wealth Group LLC acquired a new position in Marzetti during the 4th quarter valued at about $32,000. Parkside Financial Bank & Trust acquired a new stake in Marzetti in the fourth quarter worth about $32,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Marzetti during the fourth quarter worth about $33,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Marzetti during the fourth quarter worth about $35,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Marzetti during the fourth quarter valued at about $40,000. 66.44% of the stock is currently owned by hedge funds and other institutional investors.
Marzetti Stock Performance
Shares of MZTI stock opened at $112.65 on Tuesday. The business has a fifty day moving average of $112.27 and a 200 day moving average of $126.19. The Marzetti Company has a 1 year low of $104.28 and a 1 year high of $186.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.56 and a quick ratio of 0.67. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 16.16 and a beta of 0.32.
Marzetti Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.6%. Marzetti’s payout ratio is 57.39%.
Insider Buying and Selling
In related news, insider Luis Viso sold 1,221 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $109.31, for a total value of $133,467.51. Following the sale, the insider owned 1,924 shares in the company, valued at $210,312.44. This represents a 38.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 29.10% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marzetti in a research report on Monday, August 17th. Stephens reissued an “equal weight” rating and set a $140.00 target price on shares of Marzetti in a research report on Wednesday, August 26th. Finally, DA Davidson cut their price target on shares of Marzetti from $168.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 26th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $135.00.
Check Out Our Latest Research Report on Marzetti
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.
Read More
- Five stocks we like better than Marzetti
- Securing AI: 5 Most-Upgraded Stocks From the Q2 Reporting Season
- Insiders Are Betting Big on These 3 Healthcare Stocks
- 3 Stocks for Investors Who Still Believe Cash Is King
- Dollar General and Dollar Tree Are Recovering, But Not for the Same Reason
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).
Receive News & Ratings for Marzetti Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marzetti and related companies with MarketBeat.com's FREE daily email newsletter.
