Trexquant Investment LP Buys 22,079 Shares of The Marzetti Company $MZTI

Key Points

• Trexquant Investment LP increased its stake in The Marzetti Company (NASDAQ:MZTI) by 59%, owning 59,490 shares valued at approximately $10.4 million as of the last quarter.
• Marzetti reported an EPS of $1.33, exceeding analysts' expectations, and achieved revenue of $475.43 million for the quarter, marking a 5% year-over-year growth.
• The company announced a quarterly dividend of $0.95 per share, with an annual yield of 2.1%, set to be paid on September 30th.

Trexquant Investment LP lifted its holdings in The Marzetti Company (NASDAQ:MZTI - Free Report) by 59.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,490 shares of the company's stock after buying an additional 22,079 shares during the quarter. Trexquant Investment LP owned about 0.22% of Marzetti worth $10,411,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MZTI. State of Alaska Department of Revenue raised its position in shares of Marzetti by 2.5% during the first quarter. State of Alaska Department of Revenue now owns 2,259 shares of the company's stock worth $395,000 after purchasing an additional 55 shares during the period. Coldstream Capital Management Inc. boosted its position in Marzetti by 5.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,609 shares of the company's stock valued at $279,000 after purchasing an additional 77 shares during the last quarter. Captrust Financial Advisors raised its stake in Marzetti by 3.6% in the fourth quarter. Captrust Financial Advisors now owns 2,323 shares of the company's stock valued at $402,000 after buying an additional 80 shares during the period. Resona Asset Management Co. Ltd. raised its stake in Marzetti by 2.5% in the first quarter. Resona Asset Management Co. Ltd. now owns 3,534 shares of the company's stock valued at $618,000 after buying an additional 86 shares during the period. Finally, State of Michigan Retirement System lifted its position in Marzetti by 2.2% during the first quarter. State of Michigan Retirement System now owns 4,632 shares of the company's stock worth $811,000 after acquiring an additional 100 shares during the last quarter. 66.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Stephens reaffirmed an "equal weight" rating and issued a $190.00 target price on shares of Marzetti in a research report on Thursday, August 28th. Benchmark upped their target price on Marzetti from $185.00 to $200.00 and gave the company a "buy" rating in a research report 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 company has a consensus rating of "Moderate Buy" and a consensus price target of $206.00.

Marzetti Price Performance

MZTI traded up $2.39 during trading on Thursday, hitting $183.91. 113,485 shares of the stock traded hands, compared to its average volume of 139,520. The Marzetti Company has a twelve month low of $156.14 and a twelve month high of $202.63. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 30.30 and a beta of 0.43. The business has a 50 day moving average price of $176.42 and a 200 day moving average price of $176.54.

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 business had revenue of $475.43 million during the quarter, compared to the consensus estimate of $455.26 million. During the same period in the previous year, the business earned $1.34 earnings per share. The company's revenue was up 5.0% on a year-over-year basis. On average, equities research analysts predict that The Marzetti Company will post 6.8 earnings per share for the current year.

Marzetti Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, September 8th. Marzetti's payout ratio is presently 62.60%.

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.