Dark Forest Capital Management LP Has $3.57 Million Stock Position in The Marzetti Company $MZTI

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 & Exchange Commission. The firm owned 20,395 shares of the company's stock after purchasing an additional 18,424 shares during the quarter. Dark Forest Capital Management LP owned approximately 0.07% of Marzetti worth $3,569,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MZTI. Nuveen LLC acquired a new position in shares of Marzetti in the 1st quarter valued at $10,456,000. GAMMA Investing LLC raised its stake in shares of Marzetti by 19,025.0% in the 1st quarter. GAMMA Investing LLC now owns 53,550 shares of the company's stock valued at $9,371,000 after buying an additional 53,270 shares in the last quarter. Man Group plc raised its stake in shares of Marzetti by 366.6% in the 4th quarter. Man Group plc now owns 50,241 shares of the company's stock valued at $8,699,000 after buying an additional 39,474 shares in the last quarter. Algert Global LLC raised its stake in shares of Marzetti by 368.5% in the 1st quarter. Algert Global LLC now owns 48,672 shares of the company's stock valued at $8,518,000 after buying an additional 38,282 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Marzetti by 11.1% in the 4th quarter. Northern Trust Corp now owns 290,133 shares of the company's stock valued at $50,234,000 after buying an additional 28,965 shares in the last quarter. Institutional investors and hedge funds own 66.44% of the company's stock.

Marzetti Stock Performance

NASDAQ:MZTI traded up $2.00 on Monday, hitting $185.51. 36,154 shares of the stock were exchanged, compared to its average volume of 161,206. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of 30.56 and a beta of 0.43. The Marzetti Company has a 52 week low of $156.14 and a 52 week high of $202.63. The company's 50-day moving average price is $176.68 and its 200 day moving average price is $176.28.

Marzetti (NASDAQ:MZTI - Get Free Report) last posted its earnings results on Thursday, August 21st. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.02. Marzetti had a return on equity of 18.87% and a net margin of 8.77%.The business had revenue of $475.43 million during the quarter, compared to analysts' expectations of $455.26 million. During the same period in the prior year, the business earned $1.34 EPS. Marzetti's revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities research analysts predict that The Marzetti Company will post 6.8 earnings per share for the current year.

Marzetti Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, September 8th. Marzetti's dividend payout ratio is presently 62.60%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MZTI shares. Stephens restated an "equal weight" rating and issued a $190.00 target price on shares of Marzetti in a research note on Thursday, August 28th. Benchmark boosted their target price on shares of Marzetti from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.