16,745 Shares in The Marzetti Company $MZTI Acquired by Paralel Advisors LLC

Key Points

• Paralel Advisors LLC acquired 16,745 shares of Marzetti, valued at approximately $1.91 million, giving it a 0.06% stake. Institutional investors collectively own 66.44% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $169.33 price target. Shares opened at $112.89, near their 52-week low of $104.28.
• Marzetti declared a quarterly dividend of $1.00 per share, or $4.00 annualized, representing a 3.5% yield and a 62.6% payout ratio.

Paralel Advisors LLC bought a new position in shares of The Marzetti Company (NASDAQ:MZTI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,745 shares of the company's stock, valued at approximately $1,912,000. Paralel Advisors LLC owned 0.06% of Marzetti at the end of the most recent quarter.

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

Several other large investors have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC purchased a new stake in shares of Marzetti in the fourth quarter worth $32,000. Parkside Financial Bank & Trust purchased a new position in shares of Marzetti during the 4th quarter valued at $32,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Marzetti during the 4th quarter valued at $33,000. Rockefeller Capital Management L.P. bought a new position in Marzetti in the 4th quarter worth $35,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Marzetti in the 4th quarter worth $40,000. Hedge funds and other institutional investors own 66.44% of the company's stock.

Insider Activity at Marzetti

In other Marzetti news, insider Luis Viso sold 1,221 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $109.31, for a total transaction of $133,467.51. Following the completion of the transaction, the insider owned 1,924 shares of the company's stock, valued at $210,312.44. This represents a 38.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 29.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MZTI shares. DA Davidson upgraded Marzetti to a "hold" rating in a research note on Monday, July 6th. Stephens dropped their price objective on Marzetti from $160.00 to $140.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 6th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Marzetti in a research report on Monday. 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 stock. According to MarketBeat, Marzetti has a consensus rating of "Hold" and a consensus price target of $169.33.

Marzetti Stock Performance

MZTI stock opened at $112.89 on Friday. The Marzetti Company has a one year low of $104.28 and a one year high of $190.96. The company's fifty day moving average price is $111.38 and its 200-day moving average price is $128.37. The company has a market capitalization of $3.10 billion, a PE ratio of 17.67 and a beta of 0.32.

Marzetti Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be paid a $1.00 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $4.00 annualized dividend and a yield of 3.5%. Marzetti's payout ratio is presently 62.60%.

Marzetti 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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