Mitsubishi UFJ Asset Management UK Ltd. Has $1.10 Million Stake in The Marzetti Company $MZTI

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. increased its stake in The Marzetti Company by 46.5%, owning 6,300 shares valued at approximately $1.1 million after acquiring additional shares in the 1st quarter.
• Marzetti recently announced a quarterly dividend of $0.95 per share, which equates to an annualized yield of 2.1% and a payout ratio of 61.79%.
• Wall Street analysts have mixed ratings for Marzetti, with three analysts rating it as a "hold" and two as a "buy," while the company's consensus price target is set at $203.50.

Mitsubishi UFJ Asset Management UK Ltd. lifted its position in shares of The Marzetti Company (NASDAQ:MZTI - Free Report) by 46.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 6,300 shares of the company's stock after purchasing an additional 2,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in Marzetti were worth $1,103,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in shares of Marzetti during the 1st quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Marzetti in the 1st quarter valued at $29,000. Headlands Technologies LLC purchased a new stake in Marzetti in the 1st quarter worth about $44,000. Blue Trust Inc. raised its stake in shares of Marzetti by 20.9% during the 1st quarter. Blue Trust Inc. now owns 602 shares of the company's stock worth $105,000 after purchasing an additional 104 shares in the last quarter. Finally, Significant Wealth Partners LLC bought a new position in shares of Marzetti in the 1st quarter valued at approximately $204,000. Hedge funds and other institutional investors own 66.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Benchmark raised Marzetti from a "hold" rating to a "buy" rating and set a $185.00 price objective on the stock in a report on Thursday, May 1st. Stephens dropped their target price on Marzetti from $200.00 to $195.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, Wall Street Zen downgraded Marzetti from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $203.50.

Marzetti Trading Up 0.1%

Shares of MZTI stock traded up $0.22 on Monday, hitting $180.51. 104,574 shares of the stock were exchanged, compared to its average volume of 161,569. The firm has a market capitalization of $4.98 billion, a P/E ratio of 29.35 and a beta of 0.47. The business has a 50-day moving average of $172.95 and a 200 day moving average of $176.71. The Marzetti Company has a fifty-two week low of $156.14 and a fifty-two week high of $202.63.

Marzetti Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th will be given 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 is 61.79%.

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.