LPL Financial LLC Has $2.04 Million Stock Position in The Marzetti Company $MZTI

Key Points

• LPL Financial LLC has reduced its holdings in The Marzetti Company (NASDAQ:MZTI) by 26.7%, selling 4,234 shares during the first quarter, bringing its total shares to 11,638.
• The Marzetti Company is set to pay a quarterly dividend of $0.95 per share on September 30th, which translates to an annualized payout of $3.80 and a yield of 2.1%.
• Analyst ratings for Marzetti show a consensus of "Moderate Buy" with an average price target of $203.50, despite some recent price adjustments from various analysts.

LPL Financial LLC lowered its position in The Marzetti Company (NASDAQ:MZTI - Free Report) by 26.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,638 shares of the company's stock after selling 4,234 shares during the quarter. LPL Financial LLC's holdings in Marzetti were worth $2,037,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Marzetti by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 510,470 shares of the company's stock valued at $88,383,000 after purchasing an additional 1,496 shares during the period. London Co. of Virginia raised its stake in Marzetti by 2.9% in the fourth 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 raised its stake in Marzetti by 11.1% in the fourth 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 lifted its position in shares of Marzetti by 10.2% in the fourth 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 last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Marzetti by 8.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 146,281 shares of the company's stock worth $25,599,000 after acquiring an additional 11,790 shares during the period. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MZTI has been the topic of a number of recent analyst reports. Stephens decreased their target price on Marzetti from $200.00 to $195.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Benchmark upped their price objective on shares of Marzetti from $185.00 to $200.00 and gave the company a "buy" rating in a report on Friday. Finally, Wall Street Zen cut shares of Marzetti from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Two 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 stock presently has an average rating of "Moderate Buy" and an average price target of $207.25.

Marzetti Trading Up 6.3%

NASDAQ MZTI traded up $11.26 during trading on Friday, reaching $189.18. The company's stock had a trading volume of 217,996 shares, compared to its average volume of 133,750. The firm has a 50 day moving average price of $174.17 and a 200 day moving average price of $176.82. The Marzetti Company has a 12 month low of $156.14 and a 12 month high of $202.63. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 31.17 and a beta of 0.47.

Marzetti (NASDAQ:MZTI - Get Free Report) last released its quarterly earnings results on Thursday, August 21st. The company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.02. The company 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 firm's quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.34 earnings per share. On average, equities analysts forecast 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. This represents a $3.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, September 8th. Marzetti's dividend payout ratio is presently 61.79%.

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.