LPL Financial LLC Has $2.04 Million 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 holdings in The Marzetti Company (NASDAQ:MZTI - Free Report) by 26.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,638 shares of the company's stock after selling 4,234 shares during the period. LPL Financial LLC's holdings in Marzetti were worth $2,037,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Marzetti by 0.3% in the fourth 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 in the last quarter. London Co. of Virginia lifted its holdings in shares of 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 purchasing an additional 12,500 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of 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 purchasing an additional 28,965 shares in the last quarter. ProShare Advisors LLC lifted its holdings 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 purchasing an additional 22,019 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Marzetti by 8.8% in the first quarter. Envestnet Asset Management Inc. now owns 146,281 shares of the company's stock valued at $25,599,000 after purchasing an additional 11,790 shares in the last quarter. Hedge funds and other institutional investors own 66.44% of the company's stock.

Marzetti Trading Up 6.3%

NASDAQ MZTI traded up $11.26 during trading on Friday, hitting $189.18. 217,996 shares of the company traded hands, compared to its average volume of 126,635. The Marzetti Company has a 12 month low of $156.14 and a 12 month high of $202.63. The business has a fifty day simple moving average of $174.17 and a 200 day simple moving average of $176.96. The company has a market capitalization of $5.22 billion, a P/E ratio of 31.17 and a beta of 0.47.

Marzetti (NASDAQ:MZTI - Get Free Report) last posted its earnings results on Thursday, August 21st. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.02. Marzetti had a return on equity of 18.99% and a net margin of 8.77%.The company had revenue of $475.43 million for the quarter, compared to analyst estimates of $455.26 million. During the same period last year, the company earned $1.34 earnings per share. The business's revenue was up 5.0% compared to the same quarter last year. Equities research analysts predict that The Marzetti Company will post 6.8 EPS for the current fiscal year.

Marzetti Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, September 8th. Marzetti's dividend payout ratio (DPR) is 61.79%.

Analyst Upgrades and Downgrades

MZTI has been the subject of a number of research analyst reports. Wall Street Zen lowered Marzetti from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Benchmark increased their price objective on Marzetti from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Friday. Finally, Stephens cut their price objective on Marzetti from $200.00 to $195.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Marzetti presently has a consensus rating of "Moderate Buy" and an average target price of $207.25.

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.