Zurich Insurance Group Ltd FI Invests $1.26 Million in The Marzetti Company $MZTI

Key Points

• Zurich Insurance Group Ltd FI has acquired a new position by purchasing 7,200 shares of The Marzetti Company (NASDAQ:MZTI) valued at approximately $1,260,000 during the first quarter of the year.
• The Marzetti Company reported a quarterly earnings per share of $1.33, surpassing estimates, with revenues of $475.43 million for the quarter, reflecting a 5% year-over-year increase.
• Marzetti declared a quarterly dividend of $0.95 per share, scheduled for payment on September 30th, representing an annualized yield of 2.1%.

Zurich Insurance Group Ltd FI purchased a new stake in The Marzetti Company (NASDAQ:MZTI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,200 shares of the company's stock, valued at approximately $1,260,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. raised its holdings in shares of Marzetti by 13.4% during the fourth quarter. Ameriprise Financial Inc. now owns 21,905 shares of the company's stock worth $3,793,000 after purchasing an additional 2,581 shares during the period. Captrust Financial Advisors grew its position in Marzetti by 3.6% in the 4th quarter. Captrust Financial Advisors now owns 2,323 shares of the company's stock valued at $402,000 after buying an additional 80 shares in the last quarter. Deutsche Bank AG grew its position in Marzetti by 46.4% in the 4th quarter. Deutsche Bank AG now owns 17,385 shares of the company's stock valued at $3,010,000 after buying an additional 5,514 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in shares of Marzetti during the 4th quarter valued at about $4,910,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of Marzetti during the 4th quarter valued at about $829,000. 66.44% of the stock is owned by institutional investors and hedge funds.

Marzetti Price Performance

MZTI traded down $1.04 during midday trading on Monday, hitting $181.98. 27,194 shares of the company's stock traded hands, compared to its average volume of 160,008. The company has a market cap of $5.01 billion, a PE ratio of 29.98 and a beta of 0.43. The stock's fifty day simple moving average is $177.71 and its 200-day simple moving average is $175.93. The Marzetti Company has a one year low of $156.14 and a one year high of $202.63.

Marzetti (NASDAQ:MZTI - Get Free Report) last issued its quarterly earnings data on Thursday, August 21st. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.02. Marzetti had a net margin of 8.77% and a return on equity of 18.87%. The firm had revenue of $475.43 million for the quarter, compared to analyst estimates of $455.26 million. During the same quarter last year, the firm earned $1.34 earnings per share. The company's revenue for the quarter was up 5.0% on a year-over-year basis. On average, research analysts expect that The Marzetti Company will post 6.8 EPS for the current year.

Marzetti Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, September 8th. Marzetti's dividend payout ratio (DPR) is 62.60%.

Analysts Set New Price Targets

MZTI has been the subject of a number of analyst reports. Benchmark upped their price objective on shares of Marzetti from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Stephens reaffirmed an "equal weight" rating and set a $190.00 price objective on shares of Marzetti in a research note on Thursday. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Marzetti currently has a consensus rating of "Moderate Buy" and an average price target of $206.00.

Marzetti Company 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.