Russell Investments Group Ltd. Has $4.27 Million Stock Holdings in The Marzetti Company $MZTI

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

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

Marzetti Stock Down 0.7%

MZTI traded down $1.20 during trading on Thursday, reaching $180.56. 187,777 shares of the company's stock were exchanged, compared to its average volume of 144,379. The Marzetti Company has a fifty-two week low of $156.14 and a fifty-two week high of $202.63. The business has a 50 day moving average price of $175.26 and a 200 day moving average price of $176.82. The company has a market capitalization of $4.97 billion, a P/E ratio of 29.75 and a beta of 0.47.

Marzetti (NASDAQ:MZTI - Get Free Report) last posted its quarterly earnings results on Thursday, August 21st. The company reported $1.33 earnings per share 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 firm had revenue of $475.43 million for the quarter, compared to the consensus estimate of $455.26 million. During the same quarter in the previous year, the company earned $1.34 earnings per share. The business's revenue was up 5.0% compared to the same quarter last year. As a group, research analysts forecast that The Marzetti Company will post 6.8 EPS for the current year.

Marzetti Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MZTI. Wall Street Zen downgraded shares of Marzetti from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Benchmark raised their price objective on shares of Marzetti from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Finally, Stephens reiterated an "equal weight" rating and set a $190.00 price target on shares of Marzetti in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $206.00.

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.