The Marzetti Company $MZTI Shares Purchased by Dark Forest Capital Management LP

Key Points

• Dark Forest Capital Management LP significantly increased its stake in The Marzetti Company by 934.8%, acquiring a total of 20,395 shares valued at approximately $3,569,000.
• Research analysts have varied perspectives on Marzetti's stock, with an average rating of "Moderate Buy" and a price target of $206.00.
• The Marzetti Company declared a quarterly dividend of $0.95 per share, with a yield of 2.1%, to be paid on September 30th.

Dark Forest Capital Management LP grew its position in The Marzetti Company (NASDAQ:MZTI - Free Report) by 934.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,395 shares of the company's stock after purchasing an additional 18,424 shares during the period. Dark Forest Capital Management LP owned approximately 0.07% of Marzetti worth $3,569,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Opal Wealth Advisors LLC acquired a new position in shares of Marzetti in the first quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Marzetti in the 1st quarter valued at about $29,000. Headlands Technologies LLC bought a new position in shares of Marzetti during the 1st quarter worth approximately $44,000. State of Wyoming bought a new position in shares of Marzetti during the 1st quarter worth approximately $60,000. Finally, Quarry LP raised its holdings in shares of Marzetti by 1,350.0% in the 1st quarter. Quarry LP now owns 377 shares of the company's stock worth $66,000 after purchasing an additional 351 shares during the period. Institutional investors and hedge funds own 66.44% of the company's stock.

Marzetti Trading Up 0.3%

MZTI stock traded up $0.55 during trading on Friday, reaching $184.46. 143,600 shares of the stock were exchanged, compared to its average volume of 139,314. The business has a 50 day moving average price of $176.68 and a 200-day moving average price of $176.50. The Marzetti Company has a 1 year low of $156.14 and a 1 year high of $202.63. The firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of 30.39 and a beta of 0.43.

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

Marzetti Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, September 8th. Marzetti's payout ratio is 62.60%.

Analyst Ratings Changes

A number of research firms have recently commented on MZTI. Stephens restated an "equal weight" rating and set a $190.00 price target on shares of Marzetti in a research report on Thursday, August 28th. Benchmark boosted their price target 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. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Marzetti has a consensus rating of "Moderate Buy" and an average target price of $206.00.

Marzetti 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.