AQR Capital Management LLC Has $16.55 Million Stake in The Marzetti Company $MZTI

Key Points

• AQR Capital Management reduced its stake in The Marzetti Company (NASDAQ:MZTI) by 10.4% during Q1, holding $16.55 million worth of shares after selling 10,926 shares.
• Marzetti reported earnings of $1.33 per share for the last quarter, exceeding estimates, with revenues of $475.43 million, reflecting a 5.0% year-over-year increase.
• The company announced a quarterly dividend of $0.95 per share, with a yield of 2.1%, to be paid on September 30th, following the ex-dividend date of September 8th.

AQR Capital Management LLC decreased its position in The Marzetti Company (NASDAQ:MZTI - Free Report) by 10.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,634 shares of the company's stock after selling 10,926 shares during the period. AQR Capital Management LLC owned about 0.34% of Marzetti worth $16,551,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MZTI. Nuveen LLC acquired a new position in Marzetti in the 1st quarter valued at approximately $10,456,000. GAMMA Investing LLC raised its holdings in Marzetti by 19,025.0% in 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. Man Group plc raised its holdings in Marzetti by 366.6% in the 4th quarter. Man Group plc now owns 50,241 shares of the company's stock valued at $8,699,000 after acquiring an additional 39,474 shares in the last quarter. Algert Global LLC raised its holdings in Marzetti by 368.5% in the 1st quarter. Algert Global LLC now owns 48,672 shares of the company's stock valued at $8,518,000 after acquiring an additional 38,282 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new position in Marzetti in the 4th quarter valued at approximately $4,910,000. Institutional investors and hedge funds own 66.44% of the company's stock.

Analysts Set New Price Targets

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

Marzetti Price Performance

Shares of MZTI traded down $0.64 during mid-day trading on Monday, reaching $182.38. The company had a trading volume of 123,053 shares, compared to its average volume of 143,872. The company's 50-day moving average is $177.90 and its 200-day moving average is $175.87. The Marzetti Company has a twelve month low of $156.14 and a twelve month high of $202.63. The company has a market capitalization of $5.02 billion, a P/E ratio of 30.05 and a beta of 0.43.

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 18.87% and a net margin of 8.77%.The firm had revenue of $475.43 million during the quarter, compared to analysts' expectations of $455.26 million. During the same period last year, the firm posted $1.34 EPS. The business's revenue was up 5.0% on a year-over-year basis. As a group, equities analysts expect that The Marzetti Company will post 6.8 EPS for the current fiscal year.

Marzetti Dividend Announcement

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

Marzetti 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.