Fox Run Management L.L.C. Makes New Investment in The Marzetti Company $MZTI

Key Points

• Fox Run Management L.L.C. acquired 5,994 shares of The Marzetti Company (NASDAQ:MZTI), valued at approximately $1,049,000, during the first quarter of the year.
• Marzetti's stock has experienced recent analyst rating changes, with Wall Street Zen downgrading it from "buy" to "hold," while Benchmark upgraded it from "hold" to "buy" with a target price of $185.00.
• The company declared a quarterly dividend of $0.95, with an ex-dividend date of September 8th, representing an annualized yield of 2.1% and a payout ratio of 61.79%.

Fox Run Management L.L.C. purchased a new position in The Marzetti Company (NASDAQ:MZTI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,994 shares of the company's stock, valued at approximately $1,049,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Nuveen LLC acquired a new position in Marzetti in the first quarter worth approximately $10,456,000. GAMMA Investing LLC boosted its position in shares of Marzetti by 19,025.0% in the first quarter. GAMMA Investing LLC now owns 53,550 shares of the company's stock valued at $9,371,000 after acquiring an additional 53,270 shares during the period. AQR Capital Management LLC boosted its position in shares of Marzetti by 89.1% in the fourth quarter. AQR Capital Management LLC now owns 105,560 shares of the company's stock valued at $18,277,000 after acquiring an additional 49,734 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Marzetti in the fourth quarter valued at $8,558,000. Finally, Man Group plc raised its stake in shares of Marzetti by 366.6% in the fourth quarter. Man Group plc now owns 50,241 shares of the company's stock valued at $8,699,000 after purchasing an additional 39,474 shares in the last quarter. Institutional investors own 66.44% of the company's stock.

Marzetti Stock Down 0.6%

Marzetti stock traded down $1.07 during trading hours on Friday, hitting $180.29. The stock had a trading volume of 92,412 shares, compared to its average volume of 113,821. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of 29.32 and a beta of 0.47. The Marzetti Company has a one year low of $156.14 and a one year high of $202.63. The business's 50 day simple moving average is $172.95 and its 200-day simple moving average is $176.71.

Marzetti Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $3.80 annualized dividend and a yield of 2.1%. Marzetti's dividend payout ratio (DPR) is currently 61.79%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MZTI shares. Wall Street Zen lowered Marzetti from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Stephens decreased their price objective on Marzetti from $200.00 to $195.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, Benchmark upgraded Marzetti from a "hold" rating to a "buy" rating and set a $185.00 price objective on the stock in a research note on Thursday, May 1st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Marzetti presently has a consensus rating of "Hold" and a consensus target price of $203.50.

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.