D.A. Davidson & CO. Makes New $945,000 Investment in The Marzetti Company $MZTI

Key Points

• D.A. Davidson acquired 9,526 Marzetti shares in the third quarter, worth approximately $945,000. Institutional investors and hedge funds collectively own 66.44% of the company.
• Marzetti reported quarterly EPS of $1.14, below the $1.37 consensus estimate; revenue was $481.52 million, down 2.4% year over year.
• Analysts’ average rating is “Reduce,” with a consensus price target of $132.50. The company’s annualized dividend is $4.00 per share, a yield of about 3.7% at the reported share price.

D.A. Davidson & CO. acquired a new position in shares of The Marzetti Company (NASDAQ:MZTI - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,526 shares of the company's stock, valued at approximately $945,000.

A number of other hedge funds also recently modified their holdings of the business. Rockefeller Capital Management L.P. acquired a new position in shares of Marzetti in the 4th quarter valued at approximately $35,000. NewEdge Advisors LLC increased its position in shares of Marzetti by 237.5% during the second quarter. NewEdge Advisors LLC now owns 216 shares of the company's stock worth $25,000 after acquiring an additional 152 shares in the last quarter. IFP Advisors Inc increased its position in shares of Marzetti by 796.3% during the second quarter. IFP Advisors Inc now owns 242 shares of the company's stock worth $28,000 after acquiring an additional 215 shares in the last quarter. Versant Capital Management Inc lifted its position in Marzetti by 447.8% in the 2nd quarter. Versant Capital Management Inc now owns 378 shares of the company's stock valued at $43,000 after acquiring an additional 309 shares in the last quarter. Finally, State of Wyoming acquired a new position in Marzetti in the 1st quarter worth $56,000. Institutional investors and hedge funds own 66.44% of the company's stock.

Insider Transactions at Marzetti

In other Marzetti news, CEO Luis Viso sold 997 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $100.81, for a total value of $100,507.57. Following the transaction, the chief executive officer owned 1,047 shares in the company, valued at approximately $105,548.07. This represents a 48.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 29.30% of the company's stock.

Marzetti Price Performance

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MZTI stock opened at $108.50 on Friday. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 17.88 and a beta of 0.34. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.53 and a quick ratio of 0.67. The company has a 50 day simple moving average of $104.77 and a 200 day simple moving average of $124.01. The Marzetti Company has a 1 year low of $97.00 and a 1 year high of $176.26.

Marzetti (NASDAQ:MZTI - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.23). The company had revenue of $481.52 million for the quarter. Marzetti had a net margin of 9.06% and a return on equity of 16.46%. The company's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.74 EPS.

Marzetti Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 8th. Marzetti's dividend payout ratio is 63.19%.

Wall Street Analyst Weigh In

MZTI has been the topic of several recent research reports. DA Davidson dropped their price target on Marzetti from $168.00 to $130.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 26th. Stephens reaffirmed an "equal weight" rating and set a $135.00 price objective on shares of Marzetti in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Marzetti in a research note on Monday, August 17th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $132.50.

Marzetti Company Profile

T. Marzetti Company is a food manufacturer and marketer based in Columbus, Ohio. The company develops, produces and distributes specialty food products for retail and foodservice customers, with a portfolio focused on dressings, dips, sauces, frozen breads and related prepared foods.

Its brand portfolio includes Marzetti, Simply Dressed, New York Bakery, Sister Schubert's, Flatout, Cardini's and Girard's, among others. These products are sold through grocery retailers and other retail channels, while the company also supplies restaurants, institutional foodservice operators and other commercial customers.

The company traces its roots to 1896, when Teresa Marzetti opened a restaurant in Columbus, Ohio.

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