Paralel Advisors LLC Takes Position in The Marzetti Company $MZTI

Paralel Advisors LLC bought a new position in shares of The Marzetti Company (NASDAQ:MZTI - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 16,745 shares of the company's stock, valued at approximately $1,912,000. Paralel Advisors LLC owned 0.06% of Marzetti as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund boosted its stake in shares of Marzetti by 2.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 4,162 shares of the company's stock worth $576,000 after acquiring an additional 100 shares in the last quarter. State of Michigan Retirement System grew its holdings in shares of Marzetti by 2.1% in the 1st quarter. State of Michigan Retirement System now owns 4,932 shares of the company's stock worth $682,000 after acquiring an additional 100 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new stake in shares of Marzetti during the fourth quarter worth $32,000. Parkside Financial Bank & Trust acquired a new stake in shares of Marzetti during the fourth quarter worth $32,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Marzetti during the fourth quarter valued at $33,000. Institutional investors own 66.44% of the company's stock.

Marzetti Stock Performance

NASDAQ:MZTI opened at $105.39 on Monday. The stock has a market cap of $2.88 billion, a PE ratio of 15.12 and a beta of 0.35. The Marzetti Company has a fifty-two week low of $104.28 and a fifty-two week high of $186.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.56 and a quick ratio of 0.67. The stock's 50-day moving average is $111.95 and its two-hundred day moving average is $124.78.

• Lancaster Colony Corporation NASDAQ: LANC Is About To Raise The Dividend

Marzetti (NASDAQ:MZTI - Get Free Report) last posted its quarterly earnings results on Tuesday, August 25th. The company reported $1.46 earnings per share (EPS) for the quarter. The business had revenue of $465.03 million during the quarter. Marzetti had a net margin of 9.93% and a return on equity of 18.22%.

Marzetti Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be given a $1.00 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $4.00 dividend on an annualized basis and a yield of 3.8%. Marzetti's dividend payout ratio is presently 57.39%.

Insider Activity

In other news, insider Luis Viso sold 1,221 shares of the company's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $109.31, for a total value of $133,467.51. Following the transaction, the insider directly owned 1,924 shares of the company's stock, valued at approximately $210,312.44. This represents a 38.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 29.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on MZTI. Weiss Ratings reiterated a "sell (d+)" rating on shares of Marzetti in a research report on Monday, August 17th. DA Davidson cut their price objective on Marzetti from $168.00 to $130.00 and set a "neutral" rating on the stock in a report on Wednesday, August 26th. Finally, Stephens reaffirmed an "equal weight" rating and set a $140.00 price objective on shares of Marzetti in a research note on Wednesday, August 26th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $135.00.

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.

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