US Bancorp DE lifted its stake in shares of The Marzetti Company (NASDAQ:MZTI - Free Report) by 44.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,469 shares of the company's stock after acquiring an additional 1,678 shares during the quarter. US Bancorp DE's holdings in Marzetti were worth $957,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in shares of Marzetti during the 1st quarter worth about $26,000. Blue Trust Inc. boosted 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 acquiring an additional 104 shares in the last quarter. Covestor Ltd boosted its stake in shares of Marzetti by 48.4% during the 4th quarter. Covestor Ltd now owns 724 shares of the company's stock worth $126,000 after acquiring an additional 236 shares in the last quarter. Significant Wealth Partners LLC bought a new stake in shares of Marzetti during the 1st quarter worth about $204,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Marzetti during the 4th quarter valued at approximately $206,000. Institutional investors own 66.44% of the company's stock.
Marzetti Stock Up 0.2%
Marzetti stock opened at $178.32 on Friday. The business has a 50 day moving average price of $171.67 and a two-hundred day moving average price of $176.36. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 29.00 and a beta of 0.47. 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 declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were issued a $0.95 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $3.80 annualized dividend and a yield of 2.1%. Marzetti's dividend payout ratio is 61.79%.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. Stephens decreased their target price on Marzetti from $200.00 to $195.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Benchmark upgraded Marzetti from a "hold" rating to a "buy" rating and set a $185.00 target price for the company in a research note on Thursday, May 1st. Finally, Wall Street Zen downgraded Marzetti from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Marzetti has a consensus rating of "Hold" and a consensus target price of $203.50.
Check Out Our Latest Analysis on Marzetti
Marzetti Profile
(
Free Report)
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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