Intech Investment Management LLC Has $3.54 Million Stock Position in The Marzetti Company $MZTI

Key Points

• Intech Investment Management LLC increased its stake in The Marzetti Company by 22.8% during Q1, owning 20,223 shares worth approximately $3.54 million.
• Several institutional investors have also boosted their holdings in Marzetti, with Goldman Sachs increasing its stake by 16.1% and now owning 221,350 shares valued at $38.74 million.
• Marzetti recently declared a quarterly dividend of $0.95 per share, with a dividend yield of 2.1% and a payout ratio of 62.6%.

Intech Investment Management LLC boosted its position in shares of The Marzetti Company (NASDAQ:MZTI - Free Report) by 22.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,223 shares of the company's stock after acquiring an additional 3,758 shares during the period. Intech Investment Management LLC owned approximately 0.07% of Marzetti worth $3,539,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of Marzetti by 18.0% in the 1st quarter. Wellington Management Group LLP now owns 12,710 shares of the company's stock valued at $2,224,000 after purchasing an additional 1,939 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. grew its stake in shares of Marzetti by 46.5% in the 1st quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 6,300 shares of the company's stock valued at $1,103,000 after purchasing an additional 2,000 shares during the period. Principal Financial Group Inc. grew its stake in shares of Marzetti by 1.3% in the 1st quarter. Principal Financial Group Inc. now owns 52,433 shares of the company's stock valued at $9,176,000 after purchasing an additional 659 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Marzetti by 146.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 32,441 shares of the company's stock valued at $5,677,000 after purchasing an additional 19,264 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of Marzetti by 13.4% in the 4th quarter. Ameriprise Financial Inc. now owns 21,905 shares of the company's stock valued at $3,793,000 after purchasing an additional 2,581 shares during the period. 66.44% of the stock is currently owned by institutional investors.

Marzetti Price Performance

Shares of MZTI traded up $0.63 on Thursday, hitting $181.12. The company's stock had a trading volume of 110,599 shares, compared to its average volume of 144,312. The company has a market capitalization of $4.99 billion, a PE ratio of 29.84 and a beta of 0.43. The Marzetti Company has a fifty-two week low of $156.14 and a fifty-two week high of $202.63. The company has a 50 day moving average price of $178.40 and a 200 day moving average price of $175.87.

Marzetti (NASDAQ:MZTI - Get Free Report) last announced its earnings results on Thursday, August 21st. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.31 by $0.02. Marzetti had a return on equity of 18.87% and a net margin of 8.77%.The business had revenue of $475.43 million for the quarter, compared to the consensus estimate of $455.26 million. During the same period in the previous year, the business earned $1.34 EPS. Marzetti's revenue was up 5.0% compared to the same quarter last year. On average, equities analysts forecast that The Marzetti Company will post 6.8 EPS for the current year.

Marzetti Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Stephens reiterated an "equal weight" rating and issued a $190.00 price objective on shares of Marzetti in a research note on Thursday, September 11th. Benchmark upped their price objective on Marzetti from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Marzetti has an average rating of "Moderate Buy" and an average target price of $206.00.

Marzetti 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.