The Marzetti Company $MZTI Position Increased by Landscape Capital Management L.L.C.

Key Points

• Landscape Capital Management L.L.C. increased its stake in The Marzetti Company by 176.9% during the first quarter, owning approximately 0.08% of the company worth $3,804,000 following the purchase of an additional 13,887 shares.
• Equities research analysts have mixed views on Marzetti, with ratings ranging from a "buy" rating from Benchmark, which boosted the target price to $200, to a "hold" rating from Wall Street Zen.
• Marzetti announced a quarterly dividend of $0.95, which will be paid out on September 30th, representing an annualized yield of 2.1% and a payout ratio of 62.60%.

Landscape Capital Management L.L.C. boosted its stake in The Marzetti Company (NASDAQ:MZTI - Free Report) by 176.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,736 shares of the company's stock after buying an additional 13,887 shares during the period. Landscape Capital Management L.L.C. owned 0.08% of Marzetti worth $3,804,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in Marzetti in the 1st quarter valued at about $26,000. Caitong International Asset Management Co. Ltd bought a new position in Marzetti in the 1st quarter valued at about $29,000. Headlands Technologies LLC bought a new position in Marzetti in the 1st quarter valued at about $44,000. Blue Trust Inc. grew its position in Marzetti by 20.9% in the 1st quarter. Blue Trust Inc. now owns 602 shares of the company's stock valued at $105,000 after buying an additional 104 shares in the last quarter. Finally, Significant Wealth Partners LLC bought a new position in Marzetti in the 1st quarter valued at about $204,000. Institutional investors own 66.44% of the company's stock.

Marzetti Stock Performance

NASDAQ MZTI traded up $2.04 on Friday, reaching $182.60. The company's stock had a trading volume of 139,447 shares, compared to its average volume of 143,691. The Marzetti Company has a twelve month low of $156.14 and a twelve month high of $202.63. The stock has a market cap of $5.03 billion, a PE ratio of 30.08 and a beta of 0.47. The firm's 50 day moving average is $175.53 and its two-hundred day moving average is $176.66.

Marzetti (NASDAQ:MZTI - Get Free Report) last posted 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. Marzetti had a net margin of 8.77% and a return on equity of 18.87%. The company had revenue of $475.43 million during the quarter, compared to analyst estimates of $455.26 million. During the same period in the prior year, the firm earned $1.34 earnings per share. The business's quarterly revenue was up 5.0% on a year-over-year basis. Equities research analysts anticipate that The Marzetti Company will post 6.8 EPS for the current fiscal year.

Marzetti Dividend Announcement

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 paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $3.80 dividend on an annualized basis and a yield of 2.1%. Marzetti's dividend payout ratio is currently 62.60%.

Wall Street Analysts Forecast Growth

MZTI has been the subject of a number of recent analyst reports. Stephens reiterated an "equal weight" rating and issued a $190.00 target price on shares of Marzetti in a research report on Thursday. Benchmark upped their price target on shares of Marzetti from $185.00 to $200.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Finally, Wall Street Zen downgraded shares of Marzetti from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently 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.