The Marzetti Company $MZTI Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its holdings in The Marzetti Company (NASDAQ:MZTI) by 176.2%, acquiring an additional 15,558 shares, bringing its total to 24,390 shares valued at approximately $4.27 million.
• Several institutional investors also raised their positions in Marzetti, contributing to a total institutional ownership of 66.44% of the company's stock.
• Marzetti recently announced a quarterly dividend of $0.95 per share, translating to an annualized dividend of $3.80 and a 2.0% dividend yield.

Russell Investments Group Ltd. grew its stake in shares of The Marzetti Company (NASDAQ:MZTI - Free Report) by 176.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,390 shares of the company's stock after buying an additional 15,558 shares during the period. Russell Investments Group Ltd. owned 0.09% of Marzetti worth $4,268,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in Marzetti during the 1st quarter worth about $26,000. Headlands Technologies LLC purchased a new stake in shares of Marzetti during the first quarter worth about $44,000. Blue Trust Inc. grew its holdings in shares of Marzetti by 20.9% during the first quarter. Blue Trust Inc. now owns 602 shares of the company's stock worth $105,000 after buying an additional 104 shares in the last quarter. Significant Wealth Partners LLC purchased a new stake in shares of Marzetti during the first quarter worth about $204,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Marzetti during the fourth quarter worth about $206,000. Hedge funds and other institutional investors own 66.44% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MZTI. Benchmark lifted their price target on shares of 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 lowered their price objective on Marzetti from $200.00 to $195.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $207.25.

Marzetti Stock Up 0.1%

Shares of MZTI traded up $0.15 during mid-day trading on Wednesday, hitting $181.60. The company had a trading volume of 85,143 shares, compared to its average volume of 162,244. The business's 50-day simple moving average is $174.77 and its 200-day simple moving average is $176.83. The Marzetti Company has a 1-year low of $156.14 and a 1-year high of $202.63. The stock has a market cap of $5.00 billion, a PE ratio of 29.92 and a beta of 0.47.

Marzetti (NASDAQ:MZTI - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $455.26 million. Marzetti had a net margin of 8.77% and a return on equity of 18.87%. Marzetti's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the business earned $1.34 EPS. On average, sell-side analysts expect that The Marzetti Company will post 6.8 earnings per share for the current year.

Marzetti Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be issued a $0.95 dividend. 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 dividend payout ratio (DPR) is presently 62.60%.

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.