The Marzetti Company (NASDAQ:MZTI) Shares Acquired by Mitsubishi UFJ Asset Management UK Ltd.

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. grew its position in The Marzetti Company (NASDAQ:MZTI - Free Report) by 46.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,300 shares of the company's stock after acquiring an additional 2,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in Marzetti were worth $1,103,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. State of Alaska Department of Revenue lifted its holdings 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. lifted its holdings in shares of Marzetti by 5.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,609 shares of the company's stock worth $279,000 after purchasing an additional 77 shares during the period. Captrust Financial Advisors lifted its holdings in shares of Marzetti by 3.6% during the fourth quarter. Captrust Financial Advisors now owns 2,323 shares of the company's stock worth $402,000 after purchasing an additional 80 shares during the period. Resona Asset Management Co. Ltd. raised its position in Marzetti by 2.5% in the first quarter. Resona Asset Management Co. Ltd. now owns 3,534 shares of the company's stock worth $618,000 after acquiring an additional 86 shares in the last quarter. Finally, State of Michigan Retirement System raised its position in Marzetti by 2.2% in 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 in the last quarter. 66.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MZTI shares. Wall Street Zen cut Marzetti from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Stephens cut their price objective 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, Benchmark upgraded Marzetti from a "hold" rating to a "buy" rating and set a $185.00 price objective for the company in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $203.50.

Marzetti Trading Up 1.3%

NASDAQ:MZTI opened at $183.05 on Thursday. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of 29.76 and a beta of 0.47. The company's 50-day moving average is $172.42 and its two-hundred day moving average is $176.49. The Marzetti Company has a 12-month low of $156.14 and a 12-month high of $202.63.

Marzetti Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.1%. Marzetti's dividend payout ratio (DPR) 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.

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