Marzetti (NASDAQ:MZTI) Receives Equal Weight Rating from Stephens

Key Points

• Stephens reaffirmed its “equal weight” rating on Marzetti and set a $140 price target, implying approximately 19.3% upside from the prior close.
• Analyst sentiment remains cautious: Marzetti has an overall MarketBeat rating of “Reduce”, with two Hold ratings and one Sell rating, and an average price target of $154.
• Marzetti reported quarterly EPS of $1.46 on $465.03 million in revenue, while shares opened at $117.35 and rose 1.4%; insiders own 29.1% of the company and institutional investors own 66.44%.

Marzetti (NASDAQ:MZTI - Get Free Report)'s stock had its "equal weight" rating reaffirmed by stock analysts at Stephens in a note issued to investors on Wednesday,Benzinga reports. They currently have a $140.00 target price on the stock. Stephens' price objective suggests a potential upside of 19.30% from the stock's previous close.

A number of other analysts have also recently issued reports on MZTI. Weiss Ratings reissued a "sell (d+)" rating on shares of Marzetti in a research note on Monday, August 17th. DA Davidson upgraded shares of Marzetti to a "hold" rating in a report on Monday, July 6th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $154.00.

Marzetti Stock Up 1.4%

• Lancaster Colony Corporation NASDAQ: LANC Is About To Raise The Dividend

Shares of MZTI stock opened at $117.35 on Wednesday. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 18.36 and a beta of 0.32. Marzetti has a 12 month low of $104.28 and a 12 month high of $186.95. The stock has a 50-day moving average price of $111.69 and a 200 day moving average price of $127.35.

Marzetti (NASDAQ:MZTI - Get Free Report) last issued its quarterly earnings results on Tuesday, August 25th. The company reported $1.46 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.

Insider Buying and Selling at Marzetti

In related news, insider Luis Viso sold 1,221 shares of the business's 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 directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 29.10% of the company's stock.

Hedge Funds Weigh In On Marzetti

Hedge funds and other institutional investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC acquired a new stake in shares of Marzetti in the fourth quarter valued at approximately $32,000. Parkside Financial Bank & Trust acquired a new position in shares of Marzetti during the 4th quarter worth approximately $32,000. Caitong International Asset Management Co. Ltd bought a new stake in Marzetti in the 4th quarter valued at $33,000. Rockefeller Capital Management L.P. acquired a new stake in Marzetti during the 4th quarter valued at $35,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Marzetti during the fourth quarter worth $40,000. Institutional investors own 66.44% of the company's stock.

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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