The Marzetti Company $MZTI Shares Bought 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. boosted its holdings in shares of The Marzetti Company (NASDAQ:MZTI - Free Report) by 145.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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).

Other large investors also recently bought and sold shares of the company. Nuveen LLC purchased a new position in shares of Marzetti during the first quarter worth $10,456,000. GAMMA Investing LLC increased its holdings in Marzetti by 19,025.0% during the 1st 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 in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Marzetti by 89.1% during the fourth quarter. AQR Capital Management LLC now owns 105,560 shares of the company's stock worth $18,277,000 after purchasing an additional 49,734 shares during the last quarter. Man Group plc raised its position in 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 during the period. Finally, Northern Trust Corp increased its position in shares of Marzetti by 11.1% during the fourth quarter. Northern Trust Corp now owns 290,133 shares of the company's stock worth $50,234,000 after acquiring an additional 28,965 shares during the last quarter. Institutional investors and hedge funds own 66.44% of the company's stock.

Analysts Set New Price Targets

MZTI has been the topic of a number of research reports. Benchmark upped their price target on shares of Marzetti from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Stephens restated an "equal weight" rating and issued a $190.00 price target on shares of Marzetti in a research note on Thursday, August 28th. Two investment 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $206.00.

Marzetti Price Performance

MZTI stock traded up $1.44 during trading on Friday, reaching $185.35. The company had a trading volume of 27,851 shares, compared to its average volume of 161,278. The company has a market cap of $5.10 billion, a P/E ratio of 30.54 and a beta of 0.43. The business has a 50 day moving average of $176.42 and a 200 day moving average of $176.54. The Marzetti Company has a 52 week low of $156.14 and a 52 week high of $202.63.

Marzetti (NASDAQ:MZTI - Get Free Report) last released its 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 net margin of 8.77% and a return on equity of 18.87%. The company had revenue of $475.43 million for the quarter, compared to analysts' expectations of $455.26 million. During the same quarter in the previous year, the company earned $1.34 EPS. Marzetti's revenue for the quarter was up 5.0% on a year-over-year basis. Research analysts expect that The Marzetti Company will post 6.8 earnings per share for the current year.

Marzetti Announces Dividend

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 paid a dividend of $0.95 per share. The ex-dividend date is Monday, September 8th. This represents a $3.80 dividend on an annualized basis and a yield of 2.1%. Marzetti's dividend payout ratio is presently 62.60%.

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.