Trexquant Investment LP Boosts Stock Holdings in 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 boosted its holdings in The Marzetti Company (NASDAQ:MZTI - Free Report) by 59.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 59,490 shares of the company's stock after purchasing 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 recently made changes to their positions in MZTI. Opal Wealth Advisors LLC purchased a new stake in shares of Marzetti during the first quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Marzetti during the first quarter valued at approximately $29,000. Headlands Technologies LLC purchased a new stake in shares of Marzetti during the first quarter valued at approximately $44,000. Blue Trust Inc. grew its holdings in shares of Marzetti by 20.9% during the first quarter. Blue Trust Inc. now owns 602 shares of the company's stock valued at $105,000 after buying an additional 104 shares during the last quarter. Finally, Significant Wealth Partners LLC purchased a new stake in shares of Marzetti during the first quarter valued at approximately $204,000. Hedge funds and other institutional investors own 66.44% of the company's stock.

Analyst Ratings Changes

MZTI has been the topic of a number of recent analyst reports. Benchmark increased their price target on shares of Marzetti from $185.00 to $200.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Stephens restated an "equal weight" rating and set a $190.00 price objective on shares of Marzetti in a research report on Thursday, August 28th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Marzetti currently has an average rating of "Moderate Buy" and an average price target of $206.00.

Marzetti Stock Up 0.0%

MZTI traded up $0.02 during trading on Wednesday, hitting $181.54. The company's stock had a trading volume of 55,111 shares, compared to its average volume of 161,906. The Marzetti Company has a one year low of $156.14 and a one year high of $202.63. The firm has a market cap of $5.00 billion, a PE ratio of 29.91 and a beta of 0.43. The business's 50 day simple moving average is $175.94 and its 200-day simple moving average is $176.54.

Marzetti (NASDAQ:MZTI - Get Free Report) last released its quarterly earnings results on Thursday, August 21st. The company reported $1.33 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $455.26 million. During the same period last year, the firm earned $1.34 earnings per share. The company's quarterly revenue was up 5.0% on a year-over-year basis. Equities research analysts expect that The Marzetti Company will post 6.8 EPS for the current fiscal year.

Marzetti Announces Dividend

The business 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 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, September 8th. Marzetti's dividend payout ratio (DPR) 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.