SG Americas Securities LLC Makes New $2.23 Million Investment in The Marzetti Company $MZTI

Key Points

• SG Americas Securities LLC acquired a new stake of 13,536 shares in The Marzetti Company during Q4, valued at approximately $2.23 million, contributing to the company's institutional ownership level of about 66.44%.
• Marzetti missed Q4 EPS at $2.15 vs. $2.23 expected while reporting revenue of $509.77 million (up 1.7% YoY), and the stock trades with a market cap of about $3.88 billion and a P/E of 21.69.
• The company pays a quarterly dividend of $1.00 (annualized $4.00, yield ~2.8%) and faces mostly "Hold" analyst ratings after recent price-target cuts, with an average target of $182.67.

SG Americas Securities LLC acquired a new stake in shares of The Marzetti Company (NASDAQ:MZTI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,536 shares of the company's stock, valued at approximately $2,226,000.

Other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Marzetti by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,637 shares of the company's stock worth $2,036,000 after purchasing an additional 500 shares during the period. Strs Ohio bought a new position in shares of Marzetti in the first quarter valued at approximately $175,000. Royal Bank of Canada raised its position in shares of Marzetti by 3.8% in the first quarter. Royal Bank of Canada now owns 32,626 shares of the company's stock valued at $5,710,000 after purchasing an additional 1,186 shares during the period. United Services Automobile Association acquired a new stake in shares of Marzetti in the first quarter worth $231,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Marzetti during the 4th quarter worth $249,000. 66.44% of the stock is owned by institutional investors.

Marzetti Stock Performance

Shares of NASDAQ:MZTI opened at $141.64 on Friday. The Marzetti Company has a 1-year low of $136.72 and a 1-year high of $193.40. The stock has a market capitalization of $3.88 billion, a P/E ratio of 21.69 and a beta of 0.47. The business has a 50-day moving average price of $155.57 and a two-hundred day moving average price of $163.56.

Marzetti (NASDAQ:MZTI - Get Free Report) last issued its earnings results on Tuesday, February 3rd. The company reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.08). The business had revenue of $509.77 million during the quarter. Marzetti had a net margin of 9.25% and a return on equity of 18.55%. The business's revenue for the quarter was up 1.7% on a year-over-year basis. As a group, equities analysts predict 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 was paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, March 6th. Marzetti's payout ratio is currently 61.26%.

Analyst Ratings Changes

Several brokerages recently commented on MZTI. Weiss Ratings reiterated a "hold (c)" rating on shares of Marzetti in a report on Friday, January 9th. Stephens reduced their target price on shares of Marzetti from $190.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 4th. DA Davidson reduced their price target on shares of Marzetti from $184.00 to $168.00 and set a "neutral" rating on the stock in a research report on Monday, March 16th. Finally, Wall Street Zen cut shares of Marzetti from a "buy" rating to a "hold" rating in a research report on Saturday, January 31st. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $182.67.

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.

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