Cubist Systematic Strategies LLC Purchases 8,058 Shares of The Marzetti Company $MZTI

Key Points

• Cubist Systematic Strategies LLC increased its stake in The Marzetti Company (MZTI) by 32.4%, acquiring an additional 8,058 shares and holding a total of 32,928 shares valued at approximately $5.76 million.
• The company reported a quarterly earnings per share of $1.33, surpassing analysts' expectations, and had a revenue of $475.43 million, reflecting a 5% growth year-over-year.
• Marzetti announced a quarterly dividend of $0.95 per share, representing a 2.1% yield, with the ex-dividend date set for September 8th.

Cubist Systematic Strategies LLC lifted its position in The Marzetti Company (NASDAQ:MZTI - Free Report) by 32.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 32,928 shares of the company's stock after purchasing an additional 8,058 shares during the period. Cubist Systematic Strategies LLC owned about 0.12% of Marzetti worth $5,762,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in MZTI. Opal Wealth Advisors LLC bought a new position in shares of Marzetti in the first quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Marzetti in the first quarter worth approximately $29,000. Headlands Technologies LLC bought a new position in shares of Marzetti in the first quarter worth approximately $44,000. State of Wyoming bought a new position in shares of Marzetti in the first quarter worth approximately $60,000. Finally, Quarry LP grew its holdings in shares of Marzetti by 1,350.0% in the first quarter. Quarry LP now owns 377 shares of the company's stock worth $66,000 after purchasing an additional 351 shares during the last quarter. Institutional investors own 66.44% of the company's stock.

Analyst Upgrades and Downgrades

MZTI has been the topic of several recent analyst reports. Stephens restated an "equal weight" rating and issued a $190.00 target price on shares of Marzetti in a report on Thursday, August 28th. Benchmark lifted their price target on shares of Marzetti from $185.00 to $200.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Marzetti currently has an average rating of "Moderate Buy" and an average price target of $206.00.

Marzetti Price Performance

NASDAQ:MZTI opened at $181.52 on Thursday. The stock has a market cap of $5.00 billion, a P/E ratio of 29.90 and a beta of 0.43. The firm's fifty day simple moving average is $176.18 and its 200 day simple moving average is $176.57. The Marzetti Company has a twelve month low of $156.14 and a twelve month 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 business had revenue of $475.43 million for the quarter, compared to analysts' expectations of $455.26 million. Marzetti had a net margin of 8.77% and a return on equity of 18.87%. The firm's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.34 earnings per share. On average, analysts expect that The Marzetti Company will post 6.8 EPS for the current fiscal year.

Marzetti Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Monday, September 8th. Marzetti's payout ratio is 62.60%.

Marzetti Company 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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