18,693 Shares in The Marzetti Company $MZTI Acquired by Freestone Grove Partners LP

Key Points

• Freestone Grove Partners LP acquired 18,693 Marzetti shares worth approximately $2.13 million, giving it a 0.07% stake. Institutional investors collectively own 66.44% of the company.
• Marzetti reported quarterly EPS of $1.46 on revenue of $465.03 million, while shares opened at $114.84 and were up 2.1%.
• The company declared a quarterly dividend of $1.00, or $4.00 annually, representing a 3.5% yield. Analysts remain cautious, with an average “Reduce” rating and a $135 price target.

Freestone Grove Partners LP acquired a new stake in The Marzetti Company (NASDAQ:MZTI - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 18,693 shares of the company's stock, valued at approximately $2,134,000. Freestone Grove Partners LP owned about 0.07% of Marzetti at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new position in Marzetti in the fourth quarter worth approximately $40,196,000. Wesbanco Bank Inc. acquired a new stake in Marzetti in the fourth quarter valued at approximately $26,736,000. F m Investments LLC acquired a new stake in Marzetti in the fourth quarter valued at approximately $2,417,000. KBC Group NV grew its position in Marzetti by 3,214.6% in the first quarter. KBC Group NV now owns 23,998 shares of the company's stock worth $3,320,000 after acquiring an additional 23,274 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in Marzetti in the fourth quarter worth approximately $1,839,000. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Marzetti Stock Up 2.1%

Shares of Marzetti stock opened at $114.84 on Friday. The Marzetti Company has a 12-month low of $104.28 and a 12-month high of $186.95. The company has a quick ratio of 1.70, a current ratio of 1.56 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $112.11 and a two-hundred day moving average price of $126.68. The stock has a market capitalization of $3.13 billion, a P/E ratio of 16.48 and a beta of 0.32.

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

Marzetti (NASDAQ:MZTI - Get Free Report) last released its quarterly earnings results on Tuesday, August 25th. The company reported $1.46 EPS for the quarter. Marzetti had a net margin of 9.93% and a return on equity of 18.22%. The company had revenue of $465.03 million for the quarter.

Marzetti Announces Dividend

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 $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.5%. The ex-dividend date is Tuesday, September 8th. Marzetti's dividend payout ratio (DPR) is 62.60%.

Analyst Ratings Changes

A number of research firms have recently weighed in on MZTI. 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 report on Wednesday. Stephens reiterated an "equal weight" rating and issued a $140.00 price objective on shares of Marzetti in a report on Wednesday. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Marzetti in a research report on Monday, August 17th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Marzetti has an average rating of "Reduce" and an average price target of $135.00.

Insider Buying and Selling

In other Marzetti 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 29.10% of the stock is owned by company insiders.

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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