Canada Pension Plan Investment Board Makes New $1.04 Million Investment in The Marzetti Company $MZTI

Key Points

• Canada Pension Plan Investment Board acquired 9,100 Marzetti shares worth approximately $1.04 million in the second quarter. Institutional investors collectively own 66.44% of the company.
• Marzetti reported quarterly earnings of $1.46 per share on revenue of $465.03 million, while announcing a $1.00 quarterly dividend, equivalent to a 3.6% yield.
• Analyst sentiment remains cautious: Marzetti has an average “Reduce” rating and a $135 price target, while shares recently traded near $112.65—well below their one-year high of $186.95.

Canada Pension Plan Investment Board acquired a new position in The Marzetti Company (NASDAQ:MZTI - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,100 shares of the company's stock, valued at approximately $1,039,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MZTI. CIBC Private Wealth Group LLC purchased a new position in shares of Marzetti during the 4th quarter valued at $32,000. Parkside Financial Bank & Trust bought a new position in Marzetti in the 4th quarter worth $32,000. Caitong International Asset Management Co. Ltd purchased a new stake in Marzetti in the 4th quarter worth $33,000. Rockefeller Capital Management L.P. purchased a new stake in Marzetti in the 4th quarter worth $35,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Marzetti during the fourth quarter valued at about $40,000. 66.44% of the stock is currently owned by institutional investors.

Marzetti Price Performance

MZTI stock opened at $112.65 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.67 and a current ratio of 1.56. The company's fifty day moving average price is $112.27 and its 200-day moving average price is $126.19. The Marzetti Company has a one year low of $104.28 and a one year high of $186.95. The company has a market capitalization of $3.07 billion, a PE ratio of 16.16 and a beta of 0.32.

• Lancaster Colony Corporation NASDAQ: LANC Is About To Raise The Dividend

Marzetti (NASDAQ:MZTI - Get Free Report) last posted its earnings results on Tuesday, August 25th. The company reported $1.46 earnings per share for the quarter. The company had revenue of $465.03 million during the quarter. Marzetti had a net margin of 9.93% and a return on equity of 18.22%.

Marzetti Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 8th. Marzetti's dividend payout ratio is 57.39%.

Wall Street Analyst Weigh In

MZTI has been the topic of several research analyst reports. DA Davidson lowered their price objective on Marzetti from $168.00 to $130.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 26th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Marzetti in a research report on Monday, August 17th. Finally, Stephens reissued an "equal weight" rating and set a $140.00 target price on shares of Marzetti in a research note on Wednesday, August 26th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Marzetti has an average rating of "Reduce" and an average price target of $135.00.

Insider Activity at Marzetti

In other news, insider Luis Viso sold 1,221 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $109.31, for a total transaction of $133,467.51. Following the completion of the transaction, the insider owned 1,924 shares in the company, valued at $210,312.44. This trade represents a 38.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 29.10% of the stock is owned by company insiders.

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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