The Marzetti Company $MZTI Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its position in The Marzetti Company by 0.8%, holding 287,750 shares worth approximately $50.36 million after selling 2,383 shares in the 1st quarter.
• The company reported $1.33 EPS for the last quarter, slightly exceeding the consensus estimate of $1.31, and its revenue increased by 5.0% year-over-year.
• Marzetti has declared a quarterly dividend of $0.95, with an annualized dividend yield of 2.1%, set to be paid on September 30th.

Northern Trust Corp lessened its position in shares of The Marzetti Company (NASDAQ:MZTI - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 287,750 shares of the company's stock after selling 2,383 shares during the quarter. Northern Trust Corp owned about 1.04% of Marzetti worth $50,356,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in Marzetti in the first quarter worth $26,000. Caitong International Asset Management Co. Ltd purchased a new position in Marzetti during the 1st quarter worth $29,000. Headlands Technologies LLC purchased a new position in Marzetti during the 1st quarter worth $44,000. Blue Trust Inc. increased its position in Marzetti by 20.9% during 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 purchased a new stake in Marzetti in the first quarter valued at about $204,000. Hedge funds and other institutional investors own 66.44% of the company's stock.

Marzetti Stock Up 1.1%

Shares of Marzetti stock traded up $2.04 on Monday, reaching $182.60. 139,447 shares of the stock were exchanged, compared to its average volume of 142,555. The business has a 50 day moving average price of $175.53 and a two-hundred day moving average price of $176.54. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 30.08 and a beta of 0.43. The Marzetti Company has a twelve month low of $156.14 and a twelve month high of $202.63.

Marzetti (NASDAQ:MZTI - Get Free Report) last posted its quarterly earnings results on Thursday, August 21st. The company reported $1.33 earnings per share (EPS) for the quarter, topping 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 last year, the firm posted $1.34 EPS. Marzetti's revenue for the quarter was up 5.0% compared to the same quarter last year. Research analysts forecast that The Marzetti Company will post 6.8 EPS for the current year.

Marzetti Announces Dividend

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

Wall Street Analysts Forecast Growth

MZTI has been the subject of several recent analyst reports. Benchmark raised their price target on Marzetti from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Wall Street Zen cut shares of Marzetti from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, Stephens restated an "equal weight" rating and set a $190.00 price target on shares of Marzetti in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $206.00.

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.