The Marzetti Company $MZTI Shares Bought by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in The Marzetti Company by 27.3%, now owning 32,375 shares worth $5.67 million.
• The Marzetti Company reported $475.43 million in revenue and $1.33 earnings per share for the last quarter, exceeding analysts' estimates.
• The company announced a quarterly dividend of $0.95 per share, reflecting a 2.1% yield and a payout ratio of 62.60%.

Voya Investment Management LLC increased its position in shares of The Marzetti Company (NASDAQ:MZTI - Free Report) by 27.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,375 shares of the company's stock after purchasing an additional 6,945 shares during the period. Voya Investment Management LLC owned 0.12% of Marzetti worth $5,666,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MZTI. Strs Ohio purchased a new stake in shares of Marzetti during the 1st quarter worth approximately $175,000. Intech Investment Management LLC increased its position in shares of Marzetti by 22.8% during the first quarter. Intech Investment Management LLC now owns 20,223 shares of the company's stock worth $3,539,000 after purchasing an additional 3,758 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in shares of Marzetti in the 1st quarter valued at about $475,000. Zurich Insurance Group Ltd FI acquired a new position in Marzetti during the first quarter worth approximately $1,260,000. Finally, Empowered Funds LLC purchased a new stake in Marzetti in the first quarter valued at approximately $2,310,000. 66.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Stephens reiterated an "equal weight" rating and issued a $190.00 price target on shares of Marzetti in a research report on Thursday, September 11th. Benchmark upped their price objective on Marzetti from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $206.00.

Marzetti Trading Down 0.6%

Shares of MZTI traded down $1.10 during mid-day trading on Monday, hitting $175.79. The company's stock had a trading volume of 99,787 shares, compared to its average volume of 142,037. 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 $4.84 billion, a P/E ratio of 28.96 and a beta of 0.43. The firm has a 50-day simple moving average of $178.54 and a 200 day simple moving average of $175.42.

Marzetti (NASDAQ:MZTI - Get Free Report) last announced its quarterly earnings data on Thursday, August 21st. The company reported $1.33 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $455.26 million. During the same quarter last year, the business earned $1.34 earnings per share. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, sell-side analysts predict that The Marzetti Company will post 6.8 EPS for the current fiscal year.

Marzetti Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, September 8th. Marzetti's dividend payout ratio (DPR) is currently 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.