Jump Financial LLC Purchases Shares of 3,595 The Marzetti Company $MZTI

Key Points

• Jump Financial LLC has acquired a new stake in The Marzetti Company, purchasing 3,595 shares valued at approximately $629,000 during the first quarter.
• Marzetti's stock has an average target price of $206.00 from analysts, with current recommendations including two "buy" ratings and two "hold" ratings.
• The company recently declared a quarterly dividend of $0.95 per share, reflecting an annualized dividend yield of 2.1%, with the payment set for September 30th.

Jump Financial LLC purchased a new stake in The Marzetti Company (NASDAQ:MZTI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,595 shares of the company's stock, valued at approximately $629,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in shares of Marzetti in the first quarter worth about $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Marzetti in the first quarter worth about $29,000. Headlands Technologies LLC bought a new position in shares of Marzetti in the first quarter worth about $44,000. Blue Trust Inc. raised its stake in shares of Marzetti by 20.9% in the first quarter. Blue Trust Inc. now owns 602 shares of the company's stock worth $105,000 after acquiring an additional 104 shares during the last quarter. Finally, Significant Wealth Partners LLC bought a new position in shares of Marzetti in the first quarter worth about $204,000. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Stephens reaffirmed an "equal weight" rating and issued a $190.00 target price on shares of Marzetti in a research note on Thursday. Wall Street Zen downgraded shares of Marzetti from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, Benchmark boosted their price target on shares of Marzetti from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Two equities research 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, the company presently has an average rating of "Moderate Buy" and an average price target of $206.00.

Marzetti Stock Performance

Shares of NASDAQ:MZTI opened at $182.60 on Monday. The Marzetti Company has a 52 week low of $156.14 and a 52 week high of $202.63. The company has a market capitalization of $5.03 billion, a PE ratio of 30.08 and a beta of 0.43. The company has a 50 day moving average price of $175.53 and a two-hundred day moving average price of $176.54.

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

Marzetti Announces Dividend

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

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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