Blair William & Co. IL lowered its stake in The Marzetti Company (NASDAQ:MZTI - Free Report) by 97.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,903 shares of the company's stock after selling 175,051 shares during the period. Blair William & Co. IL's holdings in Marzetti were worth $847,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Marzetti in the 1st quarter worth approximately $29,000. Headlands Technologies LLC purchased a new stake in shares of Marzetti in the 1st quarter worth approximately $44,000. State of Wyoming bought a new position in Marzetti in the 1st quarter valued at approximately $60,000. Quarry LP lifted its position in Marzetti by 1,350.0% in the 1st quarter. Quarry LP now owns 377 shares of the company's stock valued at $66,000 after acquiring an additional 351 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in Marzetti by 100.0% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 400 shares of the company's stock valued at $69,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 66.44% of the company's stock.
Wall Street Analyst Weigh In
MZTI has been the topic of several analyst reports. Stephens reaffirmed an "equal weight" rating and issued a $190.00 price objective on shares of Marzetti in a research report on Thursday, September 11th. Benchmark upped their price objective on Marzetti from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, August 22nd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Marzetti in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $206.00.
Check Out Our Latest Research Report on MZTI
Marzetti Price Performance
NASDAQ MZTI opened at $165.22 on Friday. The business's fifty day moving average price is $176.81 and its 200-day moving average price is $174.23. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 27.22 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 the consensus estimate of $1.31 by $0.02. The firm had revenue of $475.43 million for the quarter, compared to analysts' expectations of $455.26 million. Marzetti had a return on equity of 18.87% and a net margin of 8.77%.The company's revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 EPS. Equities research analysts anticipate that The Marzetti Company will post 6.8 EPS for the current year.
Marzetti Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, September 8th. Marzetti's dividend payout ratio is presently 62.60%.
About Marzetti
(
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.
Further Reading
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