Capstone Investment Advisors LLC Takes $2.08 Million Position in The Marzetti Company $MZTI

Key Points

• Capstone Investment Advisors purchased 18,216 shares of Marzetti, valued at approximately $2.08 million, giving it a 0.07% stake. Institutional investors collectively own 66.44% of the company.
• Analyst sentiment remains cautious: Marzetti has a consensus “Reduce” rating and an average price target of $135, while the stock recently traded at $112.53.
• Marzetti reported quarterly EPS of $1.46 on revenue of $465.03 million and announced a quarterly dividend of $1.00 per share, equivalent to a 3.6% annualized yield.

Capstone Investment Advisors LLC purchased a new stake in The Marzetti Company (NASDAQ:MZTI - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 18,216 shares of the company's stock, valued at approximately $2,080,000. Capstone Investment Advisors LLC owned 0.07% of Marzetti at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in shares of Marzetti by 3.8% during the 1st quarter. Royal Bank of Canada now owns 32,626 shares of the company's stock worth $5,710,000 after purchasing an additional 1,186 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Marzetti by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,637 shares of the company's stock worth $2,036,000 after purchasing an additional 500 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Marzetti by 16.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 221,350 shares of the company's stock worth $38,736,000 after acquiring an additional 30,731 shares during the period. United Services Automobile Association acquired a new stake in shares of Marzetti during the 1st quarter worth approximately $231,000. Finally, Empowered Funds LLC acquired a new stake in shares of Marzetti during the 1st quarter worth approximately $2,310,000. Institutional investors and hedge funds own 66.44% of the company's stock.

Insider Buying and Selling

In other Marzetti news, insider Luis Viso sold 1,221 shares of the firm's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $109.31, for a total value of $133,467.51. Following the completion of the sale, the insider directly owned 1,924 shares in the company, valued at approximately $210,312.44. This trade represents a 38.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 29.10% of the company's stock.

Wall Street Analysts Forecast Growth

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

Several research analysts have commented on MZTI shares. DA Davidson lowered their price objective on shares of Marzetti from $168.00 to $130.00 and set a "neutral" rating for the company in a research report on Wednesday. Weiss Ratings restated a "sell (d+)" rating on shares of Marzetti in a research report on Monday, August 17th. Finally, Stephens reaffirmed an "equal weight" rating and set a $140.00 target price on shares of Marzetti in a research note on Wednesday. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $135.00.

Marzetti Stock Performance

NASDAQ MZTI opened at $112.53 on Friday. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 16.14 and a beta of 0.32. The stock has a fifty day simple moving average of $111.95 and a 200 day simple moving average of $126.76. The company has a quick ratio of 1.70, a current ratio of 1.56 and a debt-to-equity ratio of 0.18. The Marzetti Company has a twelve month low of $104.28 and a twelve month high of $186.95.

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

Marzetti Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be given a dividend of $1.00 per share. The ex-dividend date is Tuesday, September 8th. This represents a $4.00 annualized dividend and a dividend yield of 3.6%. Marzetti's dividend payout ratio is presently 62.60%.

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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