Cubist Systematic Strategies LLC Boosts Stake in 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 stake in shares of The Marzetti Company (NASDAQ:MZTI - Free Report) by 32.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,928 shares of the company's stock after purchasing an additional 8,058 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.12% of Marzetti worth $5,762,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MZTI. Royal Bank of Canada boosted its stake in Marzetti by 3.8% in the 1st quarter. Royal Bank of Canada now owns 32,626 shares of the company's stock worth $5,710,000 after buying an additional 1,186 shares during the last quarter. Quarry LP raised its position in shares of Marzetti by 1,350.0% during 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. Vident Advisory LLC grew its stake in Marzetti by 35.5% during the 1st quarter. Vident Advisory LLC now owns 1,637 shares of the company's stock worth $286,000 after buying an additional 429 shares during the last quarter. Magnetar Financial LLC bought a new position in shares of Marzetti in the first quarter worth $329,000. Finally, State of Wyoming bought a new position in shares of Marzetti in the first quarter worth $60,000. Hedge funds and other institutional investors own 66.44% of the company's stock.

Wall Street Analyst Weigh In

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

Marzetti Stock Down 1.1%

MZTI stock traded down $2.00 during mid-day trading on Tuesday, reaching $182.28. 33,453 shares of the company traded hands, compared to its average volume of 161,228. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 30.03 and a beta of 0.43. The firm's 50 day moving average price is $176.91 and its 200 day moving average price is $176.21. The Marzetti Company has a fifty-two week low of $156.14 and a fifty-two week high of $202.63.

Marzetti (NASDAQ:MZTI - Get Free Report) last issued its quarterly earnings data on Thursday, August 21st. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.02. Marzetti had a return on equity of 18.87% and a net margin of 8.77%.The company had revenue of $475.43 million for the quarter, compared to the consensus estimate of $455.26 million. During the same quarter last year, the business posted $1.34 earnings per share. The firm's revenue was up 5.0% compared to the same quarter last year. On average, analysts anticipate that The Marzetti Company will post 6.8 EPS for the current fiscal year.

Marzetti Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th will be paid a $0.95 dividend. The ex-dividend date is Monday, September 8th. This represents a $3.80 annualized dividend and a yield of 2.1%. Marzetti's 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.