Quantbot Technologies LP Purchases New Holdings in The Marzetti Company $MZTI

Quantbot Technologies LP acquired a new position in shares of The Marzetti Company (NASDAQ:MZTI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 24,837 shares of the company's stock, valued at approximately $2,835,000. Quantbot Technologies LP owned 0.09% of Marzetti at the end of the most recent reporting period.

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its holdings 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 purchasing an additional 100 shares in the last quarter. State of Michigan Retirement System lifted its position in Marzetti by 2.1% during the first quarter. State of Michigan Retirement System now owns 4,932 shares of the company's stock worth $682,000 after purchasing an additional 100 shares during the period. CIBC Private Wealth Group LLC bought a new stake in Marzetti during the fourth quarter worth about $32,000. Parkside Financial Bank & Trust acquired a new stake in Marzetti during the fourth quarter worth about $32,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Marzetti in the 4th quarter valued at about $33,000. 66.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Stephens dropped their target price on shares of Marzetti from $160.00 to $140.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 6th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Marzetti in a research report on Monday, August 17th. Finally, DA Davidson upgraded shares of Marzetti to a "hold" rating in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $154.00.

Marzetti Price Performance

NASDAQ:MZTI opened at $111.63 on Monday. The Marzetti Company has a twelve month low of $104.28 and a twelve month high of $190.96. The stock's 50-day simple moving average is $111.38 and its 200 day simple moving average is $127.94. The firm has a market capitalization of $3.06 billion, a PE ratio of 17.47 and a beta of 0.32.

Marzetti Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $4.00 annualized dividend and a dividend yield of 3.6%. Marzetti's payout ratio is 62.60%.

Insider Transactions at Marzetti

In related news, insider Luis Viso sold 1,221 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $109.31, for a total transaction of $133,467.51. Following the completion of the transaction, the insider directly owned 1,924 shares in the company, valued at $210,312.44. This represents a 38.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 29.10% of the stock is currently owned by corporate insiders.

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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