Fifth Third Bancorp Acquires New Position in The Marzetti Company $MZTI

Fifth Third Bancorp acquired a new stake in The Marzetti Company (NASDAQ:MZTI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 15,046 shares of the company's stock, valued at approximately $2,474,000. Fifth Third Bancorp owned about 0.05% of Marzetti at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Marzetti in the fourth quarter valued at approximately $33,000. Lodestone Wealth Management LLC bought a new position in Marzetti in the fourth quarter valued at approximately $37,000. Farther Finance Advisors LLC bought a new position in Marzetti in the fourth quarter valued at approximately $52,000. Blue Trust Inc. bought a new position in Marzetti in the fourth quarter valued at approximately $57,000. Finally, Nisa Investment Advisors LLC bought a new position in Marzetti in the fourth quarter valued at approximately $62,000. 66.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wall Street Zen lowered shares of Marzetti from a "buy" rating to a "hold" rating in a research report on Saturday, January 31st. Stephens cut their target price on shares of Marzetti from $180.00 to $160.00 and set an "equal weight" rating on the stock in a research report on Monday, April 27th. Weiss Ratings restated a "hold (c)" rating on shares of Marzetti in a research report on Friday, January 9th. Finally, DA Davidson cut their target price on shares of Marzetti from $184.00 to $168.00 and set a "neutral" rating on the stock in a research report on Monday, March 16th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $176.00.

Marzetti Price Performance

Shares of Marzetti stock opened at $124.38 on Monday. The Marzetti Company has a fifty-two week low of $122.63 and a fifty-two week high of $190.96. The firm has a market capitalization of $3.41 billion, a P/E ratio of 19.05 and a beta of 0.38. The company's 50 day moving average price is $145.69 and its two-hundred day moving average price is $158.76.

Marzetti (NASDAQ:MZTI - Get Free Report) last issued its earnings results on Tuesday, February 3rd. The company reported $2.15 earnings per share for the quarter, missing analysts' consensus estimates of $2.23 by ($0.08). Marzetti had a net margin of 9.25% and a return on equity of 18.55%. The company had revenue of $509.77 million during the quarter. The company's revenue for the quarter was up 1.7% on a year-over-year basis.

Marzetti Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, March 6th. Marzetti's payout ratio is 61.26%.

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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