Bayforest Capital Ltd Makes New $475,000 Investment in The Marzetti Company $MZTI

Key Points

• Bayforest Capital Ltd has acquired a new stake in The Marzetti Company, purchasing 2,715 shares valued at approximately $475,000 during the first quarter.
• Marzetti recently announced a quarterly dividend payout of $0.95 per share, which will be distributed on September 30th, with a yield of 2.1%.
• The company's quarterly earnings reported earnings per share of $1.33, exceeding analyst expectations and reflecting a revenue increase of 5.0% year-over-year.

Bayforest Capital Ltd acquired a new stake in shares of The Marzetti Company (NASDAQ:MZTI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,715 shares of the company's stock, valued at approximately $475,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of Marzetti by 18.0% during the first quarter. Wellington Management Group LLP now owns 12,710 shares of the company's stock valued at $2,224,000 after buying an additional 1,939 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. raised its stake in Marzetti by 46.5% during the first quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 6,300 shares of the company's stock worth $1,103,000 after purchasing an additional 2,000 shares during the period. Principal Financial Group Inc. raised its stake in Marzetti by 1.3% during the first quarter. Principal Financial Group Inc. now owns 52,433 shares of the company's stock worth $9,176,000 after purchasing an additional 659 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Marzetti by 146.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 32,441 shares of the company's stock worth $5,677,000 after purchasing an additional 19,264 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in 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. Hedge funds and other institutional investors own 66.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Stephens reaffirmed an "equal weight" rating and set a $190.00 price target on shares of Marzetti in a research note on Thursday. Benchmark increased 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. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $206.00.

Marzetti Stock Down 0.6%

Shares of Marzetti stock traded down $1.03 during trading hours on Monday, hitting $181.99. The company's stock had a trading volume of 29,976 shares, compared to its average volume of 160,021. The business has a fifty day moving average of $177.71 and a 200 day moving average of $175.93. The company has a market capitalization of $5.01 billion, a PE ratio of 29.98 and a beta of 0.43. The Marzetti Company has a 1-year low of $156.14 and a 1-year high of $202.63.

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. The business had revenue of $475.43 million during the quarter, compared to analyst estimates of $455.26 million. Marzetti had a net margin of 8.77% and a return on equity of 18.87%. The business's revenue was up 5.0% on a year-over-year basis. During the same period last year, the business earned $1.34 EPS. On average, sell-side analysts anticipate that The Marzetti Company will post 6.8 earnings per share for the current fiscal year.

Marzetti Dividend Announcement

The company 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 presently 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.