US Bancorp DE Grows Stock Position in The Marzetti Company (NASDAQ:MZTI)

Key Points

• US Bancorp DE has increased its ownership of The Marzetti Company (NASDAQ:MZTI) by 44.3% after acquiring an additional 1,678 shares during the first quarter, bringing its total holdings to 5,469 shares worth approximately $957,000.
• The dividend declared by Marzetti has a value of $0.95, with an annualized amount of $3.80, translating to a yield of 2.1% and a payout ratio of 61.79%.
• Analysts have recently adjusted their ratings on Marzetti with one upgrading it to a "buy" and another downgrading it to a "hold", showing mixed sentiments with a consensus target price of $203.50.

US Bancorp DE grew its holdings in The Marzetti Company (NASDAQ:MZTI - Free Report) by 44.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,469 shares of the company's stock after purchasing an additional 1,678 shares during the period. US Bancorp DE's holdings in Marzetti were worth $957,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Marzetti by 19,025.0% during the first quarter. GAMMA Investing LLC now owns 53,550 shares of the company's stock worth $9,371,000 after buying an additional 53,270 shares during the last quarter. AQR Capital Management LLC raised its holdings in Marzetti by 89.1% during the 4th quarter. AQR Capital Management LLC now owns 105,560 shares of the company's stock worth $18,277,000 after purchasing an additional 49,734 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Marzetti during the fourth quarter valued at $8,558,000. Man Group plc grew its stake in Marzetti by 366.6% during the fourth quarter. Man Group plc now owns 50,241 shares of the company's stock worth $8,699,000 after purchasing an additional 39,474 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Marzetti by 62.7% in the 4th quarter. JPMorgan Chase & Co. now owns 100,162 shares of the company's stock valued at $17,342,000 after acquiring an additional 38,583 shares in the last quarter. Institutional investors own 66.44% of the company's stock.

Wall Street Analysts Forecast Growth

MZTI has been the subject of several analyst reports. Benchmark raised Marzetti from a "hold" rating to a "buy" rating and set a $185.00 price objective for the company in a research note on Thursday, May 1st. Wall Street Zen downgraded Marzetti from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, Stephens lowered their price target on shares of Marzetti from $200.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Marzetti presently has an average rating of "Hold" and an average price target of $203.50.

Marzetti Stock Performance

Shares of MZTI traded down $1.04 during mid-day trading on Thursday, hitting $182.01. 28,579 shares of the company traded hands, compared to its average volume of 161,911. The Marzetti Company has a 1 year low of $156.14 and a 1 year high of $202.63. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 29.60 and a beta of 0.47. The stock has a 50-day moving average price of $172.42 and a two-hundred day moving average price of $176.49.

Marzetti Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.1%. Marzetti's dividend payout ratio is presently 61.79%.

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.