Bernzott Capital Advisors Purchases New Position in The Marzetti Company $MZTI

Key Points

• Bernzott Capital Advisors established a new position in The Marzetti Company (NASDAQ:MZTI) in Q4, buying 33,367 shares worth about $5.49 million—roughly 0.12% of Marzetti and about 2.6% of Bernzott’s holdings (its 21st-largest position).
• Marzetti missed Q earnings expectations, reporting $2.15 EPS versus a $2.23 consensus (a $0.08 miss) on revenue of $509.77 million, up 1.7% year-over-year, with a reported ROE of 18.12% and net margin of 9.06%.
• The company pays a $1.00 quarterly dividend (annualized $4.00) for a 3.4% yield and 62.6% payout ratio, while analysts have trimmed targets and the consensus rating is Hold with an average price target of $169.33.

Bernzott Capital Advisors purchased a new stake in The Marzetti Company (NASDAQ:MZTI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 33,367 shares of the company's stock, valued at approximately $5,486,000. Marzetti makes up about 2.6% of Bernzott Capital Advisors' holdings, making the stock its 21st biggest position. Bernzott Capital Advisors owned approximately 0.12% of Marzetti at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Marzetti in the 4th quarter valued at $33,000. Lodestone Wealth Management LLC acquired a new stake in Marzetti in the 4th quarter valued at $37,000. Farther Finance Advisors LLC acquired a new stake in Marzetti in the 4th quarter valued at $52,000. Blue Trust Inc. bought a new position in Marzetti in the 4th quarter valued at $57,000. Finally, Nisa Investment Advisors LLC bought a new position in Marzetti in the 4th quarter valued at $62,000. Institutional investors and hedge funds own 66.44% of the company's stock.

Marzetti Stock Down 0.5%

MZTI stock opened at $116.96 on Friday. The company has a market cap of $3.21 billion, a P/E ratio of 18.30 and a beta of 0.38. The Marzetti Company has a twelve month low of $111.04 and a twelve month high of $190.96. The business has a fifty day moving average of $142.84 and a 200-day moving average of $157.73.

Marzetti (NASDAQ:MZTI - Get Free Report) last released its earnings results on Tuesday, February 3rd. The company reported $2.15 earnings per share for the quarter, missing analysts' consensus estimates of $2.23 by ($0.08). Marzetti had a return on equity of 18.12% and a net margin of 9.06%.The firm had revenue of $509.77 million for the quarter. The firm's quarterly revenue was up 1.7% on a year-over-year basis.

Marzetti Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors 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 dividend on an annualized basis and a dividend yield of 3.4%. Marzetti's payout ratio is 62.60%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MZTI shares. Stephens cut their price objective on Marzetti from $160.00 to $140.00 and set an "equal weight" rating for the company in a research report on Wednesday. Weiss Ratings reiterated a "hold (c)" rating on shares of Marzetti in a research report on Friday, January 9th. DA Davidson cut their price objective on Marzetti from $184.00 to $168.00 and set a "neutral" rating for the company in a research report on Monday, March 16th. Finally, Wall Street Zen downgraded Marzetti from a "buy" rating to a "hold" rating in a research report on Saturday, January 31st. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $169.33.

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.

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