Invesco Ltd. Has $35.15 Million Holdings in The Marzetti Company $MZTI

Key Points

• Invesco Ltd. increased its stake in The Marzetti Company (NASDAQ: MZTI) by 6.4% to approximately $35.15 million after acquiring additional shares.
• The company announced a quarterly dividend of $0.95, which will be paid on September 30th, representing an annual yield of 2.1%.
• Analysts have mixed ratings for MZTI, with a consensus rating of "Hold" and a target price averaging $203.50.

Invesco Ltd. raised its position in The Marzetti Company (NASDAQ:MZTI - Free Report) by 6.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 200,873 shares of the company's stock after acquiring an additional 12,015 shares during the period. Invesco Ltd. owned approximately 0.73% of Marzetti worth $35,153,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in MZTI. Opal Wealth Advisors LLC purchased a new position in shares of Marzetti during the first quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new position in shares of Marzetti during the first quarter valued at approximately $44,000. Blue Trust Inc. boosted its position in shares of Marzetti by 20.9% during the first quarter. Blue Trust Inc. now owns 602 shares of the company's stock valued at $105,000 after buying an additional 104 shares during the last quarter. Significant Wealth Partners LLC purchased a new position in shares of Marzetti during the first quarter valued at approximately $204,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Marzetti during the fourth quarter valued at approximately $206,000. Institutional investors and hedge funds own 66.44% of the company's stock.

Marzetti Trading Up 0.1%

MZTI stock opened at $180.51 on Tuesday. The stock's fifty day simple moving average is $173.16 and its two-hundred day simple moving average is $176.79. The Marzetti Company has a 1-year low of $156.14 and a 1-year high of $202.63. The stock has a market cap of $4.98 billion, a P/E ratio of 29.35 and a beta of 0.47.

Marzetti Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th will be given a $0.95 dividend. 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 payout ratio is currently 61.79%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MZTI shares. Benchmark raised Marzetti from a "hold" rating to a "buy" rating and set a $185.00 target price on the stock in a research report on Thursday, May 1st. Wall Street Zen cut Marzetti from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Finally, Stephens cut their target price on Marzetti from $200.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $203.50.

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.

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