Benjamin Edwards Inc. purchased a new stake in shares of The Marzetti Company (NASDAQ:MZTI - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 19,244 shares of the company's stock, valued at approximately $3,164,000. Benjamin Edwards Inc. owned 0.07% of Marzetti as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Marzetti during the 4th quarter worth approximately $33,000. Lodestone Wealth Management LLC bought a new position in Marzetti in the 4th quarter valued at $37,000. Farther Finance Advisors LLC purchased a new position in shares of Marzetti during the 4th quarter valued at $52,000. Blue Trust Inc. purchased a new position in shares of Marzetti during the 4th quarter valued at $57,000. Finally, Nisa Investment Advisors LLC bought a new position in shares of Marzetti in the fourth quarter worth $62,000. 66.44% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently commented on MZTI shares. DA Davidson reduced their target price on Marzetti from $184.00 to $168.00 and set a "neutral" rating for the company in a research report on Monday, March 16th. Wall Street Zen downgraded Marzetti from a "buy" rating to a "hold" rating in a research report on Saturday, January 31st. Weiss Ratings reissued a "hold (c)" rating on shares of Marzetti in a report on Friday, January 9th. Finally, Stephens decreased their price objective on shares of Marzetti from $180.00 to $160.00 and set an "equal weight" rating on the stock in a research report on Monday, April 27th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Marzetti has a consensus rating of "Hold" and a consensus target price of $176.00.
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Marzetti Stock Performance
Shares of NASDAQ:MZTI opened at $118.71 on Wednesday. The firm has a market capitalization of $3.26 billion, a PE ratio of 18.58 and a beta of 0.38. The Marzetti Company has a 52-week low of $111.04 and a 52-week high of $190.96. The firm has a fifty day moving average of $144.74 and a 200 day moving average of $158.43.
Marzetti (NASDAQ:MZTI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.08). The firm had revenue of $509.77 million for the quarter. Marzetti had a return on equity of 18.12% and a net margin of 9.06%.Marzetti's revenue for the quarter was up 1.7% on a year-over-year basis.
Marzetti Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.4%. Marzetti's dividend payout ratio (DPR) is 61.26%.
Marzetti Company Profile
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Free Report)
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.
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