Campbell & CO Investment Adviser LLC Makes New Investment in The Marzetti Company $MZTI

Key Points

• Campbell & CO Investment Adviser LLC acquired a new position in The Marzetti Company (NASDAQ:MZTI), purchasing 14,040 shares valued at approximately $2.46 million.
• Analysts have mixed opinions on Marzetti, with a consensus rating of "Moderate Buy" and a target price averaging $207.25, while some firms have varied rating adjustments.
• The firm announced a quarterly dividend of $0.95 to be paid on September 30, representing an annualized yield of 2.0%.

Campbell & CO Investment Adviser LLC bought a new position in shares of The Marzetti Company (NASDAQ:MZTI - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 14,040 shares of the company's stock, valued at approximately $2,457,000. Campbell & CO Investment Adviser LLC owned 0.05% of Marzetti as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Marzetti during the first quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd bought a new stake in Marzetti during the first quarter worth approximately $29,000. Headlands Technologies LLC acquired a new position in shares of Marzetti during the first quarter worth approximately $44,000. Blue Trust Inc. lifted its holdings in shares of Marzetti by 20.9% during the first quarter. Blue Trust Inc. now owns 602 shares of the company's stock worth $105,000 after buying an additional 104 shares during the last quarter. Finally, Significant Wealth Partners LLC acquired a new position in shares of Marzetti during the first quarter worth approximately $204,000. Institutional investors own 66.44% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on MZTI. Wall Street Zen lowered Marzetti from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Benchmark upped their price target on Marzetti from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Friday. Finally, Stephens cut their price target on Marzetti from $200.00 to $195.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $207.25.

Marzetti Price Performance

Shares of MZTI stock opened at $189.18 on Monday. The stock has a market cap of $5.22 billion, a P/E ratio of 31.17 and a beta of 0.47. The Marzetti Company has a one year low of $156.14 and a one year high of $202.63. The stock has a fifty day moving average price of $174.17 and a 200 day moving average price of $176.82.

Marzetti (NASDAQ:MZTI - Get Free Report) last issued its earnings results on Thursday, August 21st. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.31 by $0.02. The firm had revenue of $475.43 million during 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%.Marzetti's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business earned $1.34 earnings per share. Equities research analysts anticipate that The Marzetti Company will post 6.8 EPS for the current year.

Marzetti Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $3.80 dividend on an annualized basis and a yield of 2.0%. Marzetti's payout ratio 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.

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