The Marzetti Company $MZTI Stake Raised by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in The Marzetti Company (NASDAQ:MZTI) by 368.5% in the first quarter, holding a total of 48,672 shares valued at approximately $8.5 million.
• The Marzetti Company declared a quarterly dividend of $0.95 per share, with an annualized rate of $3.80 representing a dividend yield of 2.1%.
• Shares of Marzetti have fluctuated between a low of $156.14 and a high of $202.63 over the past 12 months, currently opening at $180.29.

Algert Global LLC increased its stake in shares of The Marzetti Company (NASDAQ:MZTI - Free Report) by 368.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,672 shares of the company's stock after buying an additional 38,282 shares during the quarter. Algert Global LLC owned about 0.18% of Marzetti worth $8,518,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management UK Ltd. grew its stake in Marzetti by 46.5% during the 1st quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 6,300 shares of the company's stock worth $1,103,000 after buying an additional 2,000 shares during the last quarter. Principal Financial Group Inc. grew its stake in Marzetti by 1.3% during the 1st quarter. Principal Financial Group Inc. now owns 52,433 shares of the company's stock worth $9,176,000 after buying an additional 659 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Marzetti by 146.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 32,441 shares of the company's stock worth $5,677,000 after buying an additional 19,264 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Marzetti by 13.4% in 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 in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Marzetti in the fourth quarter worth $206,000. 66.44% of the stock is currently owned by institutional investors.

Marzetti Stock Performance

Shares of NASDAQ:MZTI traded up $11.26 during midday trading on Friday, reaching $189.18. The company had a trading volume of 208,983 shares, compared to its average volume of 161,982. The Marzetti Company has a 1-year low of $156.14 and a 1-year high of $202.63. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 30.76 and a beta of 0.47. The company has a fifty day simple moving average of $173.74 and a two-hundred day simple moving average of $176.91.

Marzetti (NASDAQ:MZTI - Get Free Report) last released its quarterly earnings results on Thursday, August 21st. The company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.02. Marzetti had a return on equity of 19.30% and a net margin of 8.99%.The business had revenue of $475.43 million during the quarter, compared to analyst estimates of $455.26 million. During the same quarter last year, the company posted $1.34 EPS. Marzetti's revenue for the quarter was up 5.0% on a year-over-year basis. Analysts expect that The Marzetti Company will post 6.8 EPS for the current year.

Marzetti Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be given a $0.95 dividend. The ex-dividend date is Monday, September 8th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.0%. Marzetti's dividend payout ratio (DPR) is 61.79%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wall Street Zen cut Marzetti from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Stephens decreased their price target on Marzetti from $200.00 to $195.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Finally, Benchmark increased their price target on Marzetti from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Marzetti currently has an average rating of "Moderate Buy" and a consensus price target of $207.25.

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.