Jump Financial LLC Buys New Holdings in 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 bought a new stake in shares of The Marzetti Company (NASDAQ:MZTI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,595 shares of the company's stock, valued at approximately $629,000.

A number of other institutional investors also recently modified their holdings of the stock. London Co. of Virginia boosted its stake in shares of Marzetti by 2.9% during the 4th quarter. London Co. of Virginia now owns 450,493 shares of the company's stock valued at $77,998,000 after buying an additional 12,500 shares during the period. Northern Trust Corp boosted its stake in shares of Marzetti by 11.1% during the 4th quarter. Northern Trust Corp now owns 290,133 shares of the company's stock valued at $50,234,000 after buying an additional 28,965 shares during the period. ProShare Advisors LLC boosted its stake in shares of Marzetti by 10.2% during the 4th quarter. ProShare Advisors LLC now owns 238,055 shares of the company's stock valued at $41,217,000 after buying an additional 22,019 shares during the period. Invesco Ltd. boosted its stake in shares of Marzetti by 6.4% during the 1st quarter. Invesco Ltd. now owns 200,873 shares of the company's stock valued at $35,153,000 after buying an additional 12,015 shares during the period. Finally, Bahl & Gaynor Inc. boosted its stake in shares of Marzetti by 14.6% during the 1st quarter. Bahl & Gaynor Inc. now owns 181,084 shares of the company's stock valued at $31,690,000 after buying an additional 23,027 shares during the period. Institutional investors and hedge funds own 66.44% of the company's stock.

Marzetti Stock Performance

Shares of MZTI traded up $1.16 during trading hours on Friday, reaching $185.07. 29,891 shares of the company traded hands, compared to its average volume of 161,292. The stock's fifty day moving average is $176.42 and its 200 day moving average is $176.54. The stock has a market cap of $5.09 billion, a P/E ratio of 30.49 and a beta of 0.43. The Marzetti Company has a 1-year low of $156.14 and a 1-year high of $202.63.

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

Marzetti Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on MZTI shares. Benchmark lifted their price objective on shares of Marzetti from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Stephens reaffirmed an "equal weight" rating and issued a $190.00 price objective on shares of Marzetti in a research note on Thursday, August 28th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Marzetti has a consensus rating of "Moderate Buy" and a consensus price target of $206.00.

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.