50,600 Shares in The Marzetti Company $MZTI Purchased by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP purchased 50,600 Marzetti shares worth approximately $5.8 million, giving it a 0.18% stake. Institutional investors collectively own 66.44% of the company.
• Marzetti reported quarterly EPS of $1.46 on revenue of $465.03 million and declared a $1.00 quarterly dividend, representing a 3.6% yield and $4.00 annualized payout.
• Analyst sentiment remains cautious, with two Hold ratings and one Sell rating, producing a consensus “Reduce” rating and a $135 target price; the stock recently opened at $112.65.

Corient Private Wealth LP acquired a new position in The Marzetti Company (NASDAQ:MZTI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 50,600 shares of the company's stock, valued at approximately $5,776,000. Corient Private Wealth LP owned about 0.18% of Marzetti at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Marzetti in the second quarter worth approximately $313,083,000. Vanguard Group Inc. purchased a new position in Marzetti during the 4th quarter valued at $367,969,000. State Street Corp purchased a new position in Marzetti during the 4th quarter valued at $160,722,000. First Trust Advisors LP boosted its holdings in Marzetti by 18.2% during the 1st quarter. First Trust Advisors LP now owns 803,707 shares of the company's stock valued at $111,177,000 after acquiring an additional 123,875 shares during the period. Finally, Geode Capital Management LLC bought a new position in Marzetti in the 4th quarter valued at $103,681,000. Hedge funds and other institutional investors own 66.44% of the company's stock.

Insider Activity

In other news, insider Luis Viso sold 1,221 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $109.31, for a total transaction of $133,467.51. Following the transaction, the insider owned 1,924 shares in the company, valued at approximately $210,312.44. This trade represents a 38.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 29.10% of the company's stock.

Marzetti Stock Performance

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

Marzetti stock opened at $112.65 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.67 and a current ratio of 1.56. The company has a market capitalization of $3.07 billion, a PE ratio of 16.16 and a beta of 0.32. The company has a 50 day moving average price of $112.27 and a 200-day moving average price of $126.19. The Marzetti Company has a fifty-two week low of $104.28 and a fifty-two week high of $186.95.

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

Marzetti Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th will be given 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 dividend payout ratio is presently 57.39%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Stephens reiterated an "equal weight" rating and issued a $140.00 target price on shares of Marzetti in a research note on Wednesday, August 26th. DA Davidson lowered their target price on shares of Marzetti from $168.00 to $130.00 and set a "neutral" rating for the company in a research note on Wednesday, August 26th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Marzetti in a report on Monday, August 17th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Marzetti presently has an average rating of "Reduce" and a consensus target price of $135.00.

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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