18,409 Shares in The Marzetti Company $MZTI Acquired by First National Bank of Omaha

Key Points

• First National Bank of Omaha acquired 18,409 Marzetti shares worth approximately $2.1 million, representing about 0.07% of the company. Institutional investors and hedge funds collectively own 66.44% of Marzetti.
• Marzetti declared a quarterly dividend of $1.00 per share, equivalent to $4.00 annually and a 3.4% yield, with a payout ratio of 62.6%.
• Analyst sentiment remains mixed but centers on a “Hold” consensus, with a $169.33 average price target; the stock recently opened at $116.92, well below its one-year high of $190.96.

First National Bank of Omaha bought a new position in shares of The Marzetti Company (NASDAQ:MZTI - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 18,409 shares of the company's stock, valued at approximately $2,102,000. First National Bank of Omaha owned about 0.07% of Marzetti at the end of the most recent quarter.

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

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

Marzetti Price Performance

Shares of Marzetti stock opened at $116.92 on Thursday. The stock has a market cap of $3.21 billion, a PE ratio of 18.30 and a beta of 0.32. The firm has a fifty day moving average price of $111.31 and a 200 day moving average price of $128.79. The Marzetti Company has a 1 year low of $104.28 and a 1 year high of $190.96.

Marzetti Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be paid a dividend of $1.00 per share. The ex-dividend date is Tuesday, September 8th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.4%. Marzetti's dividend payout ratio (DPR) is presently 62.60%.

Wall Street Analyst Weigh In

MZTI has been the subject of a number of research analyst reports. DA Davidson upgraded Marzetti to a "hold" rating in a research note on Monday, July 6th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Marzetti in a research note on Monday. Finally, Stephens cut their price objective on Marzetti from $160.00 to $140.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 6th. 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 company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $169.33.

Insider Buying and Selling at Marzetti

In other news, insider Luis Viso sold 1,221 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $109.31, for a total value 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. The trade was a 38.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 29.10% 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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