The Marzetti Company $MZTI Shares Acquired by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in The Marzetti Company by 145.8% during the 1st quarter, owning approximately $3.20 million worth of stock.
• Several institutional investors have also increased their positions in Marzetti, with 66.44% of the company's stock now owned by institutional investors and hedge funds.
• The Marzetti Company reported $1.33 earnings per share for the latest quarter, surpassing expectations, and has announced a quarterly dividend of $0.95 per share.

American Century Companies Inc. raised its stake in The Marzetti Company (NASDAQ:MZTI - Free Report) by 145.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,274 shares of the company's stock after purchasing an additional 10,838 shares during the period. American Century Companies Inc. owned about 0.07% of Marzetti worth $3,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State of Alaska Department of Revenue raised its position in shares of Marzetti by 2.5% during the 1st quarter. State of Alaska Department of Revenue now owns 2,259 shares of the company's stock worth $395,000 after acquiring an additional 55 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Marzetti by 3.6% in the fourth quarter. Captrust Financial Advisors now owns 2,323 shares of the company's stock valued at $402,000 after purchasing an additional 80 shares during the period. Resona Asset Management Co. Ltd. increased its holdings in shares of Marzetti by 2.5% in the first quarter. Resona Asset Management Co. Ltd. now owns 3,534 shares of the company's stock valued at $618,000 after purchasing an additional 86 shares during the period. State of Michigan Retirement System increased its holdings in shares of Marzetti by 2.2% in the first quarter. State of Michigan Retirement System now owns 4,632 shares of the company's stock valued at $811,000 after purchasing an additional 100 shares during the period. Finally, Securian Asset Management Inc. increased its holdings in shares of Marzetti by 7.2% in the first quarter. Securian Asset Management Inc. now owns 1,497 shares of the company's stock valued at $262,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 66.44% of the company's stock.

Marzetti Stock Performance

Shares of NASDAQ:MZTI traded up $0.42 during mid-day trading on Thursday, hitting $181.94. 32,072 shares of the company traded hands, compared to its average volume of 161,584. The firm has a market cap of $5.01 billion, a P/E ratio of 29.97 and a beta of 0.43. The Marzetti Company has a 52-week low of $156.14 and a 52-week high of $202.63. The firm's 50 day simple moving average is $176.18 and its 200 day simple moving average is $176.57.

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

Marzetti Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, September 8th. This represents a $3.80 annualized dividend and a yield of 2.1%. Marzetti's payout ratio is currently 62.60%.

Wall Street Analyst Weigh In

MZTI has been the topic of a number of recent analyst reports. Stephens reaffirmed an "equal weight" rating and set a $190.00 price objective on shares of Marzetti in a report on Thursday, August 28th. Benchmark lifted their price objective on Marzetti from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $206.00.

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.