Vanguard Group Inc. Takes $367.97 Million Position in The Marzetti Company $MZTI

Key Points

• Vanguard Group acquired 2,237,979 shares of The Marzetti Company worth about $367.97 million in Q4, giving Vanguard roughly a 8.12% stake in the company.
• Marzetti has a market capitalization of $3.22 billion and reported Q4 EPS of $2.15 (missing the $2.23 consensus) on $509.77 million of revenue, while the stock trades well below its 52-week high ($190.96) at about $117.56 with 50- and 200-day moving averages of $143.82 and $158.10, respectively.
• The company pays a $1.00 quarterly dividend ($4.00 annual, ~3.4% yield) with a payout ratio around 61%, and analysts broadly rate the stock as a Hold (average price target ~$169.33) after several recent price cuts.

Vanguard Group Inc. acquired a new position in The Marzetti Company (NASDAQ:MZTI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,237,979 shares of the company's stock, valued at approximately $367,969,000. Vanguard Group Inc. owned approximately 8.12% of Marzetti as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Marzetti during the 4th quarter worth about $33,000. Lodestone Wealth Management LLC acquired a new position in shares of Marzetti during the 4th quarter worth about $37,000. Farther Finance Advisors LLC bought a new position in shares of Marzetti in the 4th quarter valued at about $52,000. Blue Trust Inc. bought a new position in shares of Marzetti in the 4th quarter valued at about $57,000. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Marzetti in the fourth quarter valued at about $62,000. Institutional investors and hedge funds own 66.44% of the company's stock.

Marzetti Price Performance

Marzetti stock opened at $117.56 on Thursday. The company's 50-day moving average is $143.82 and its 200-day moving average is $158.10. The firm has a market capitalization of $3.22 billion, a PE ratio of 18.40 and a beta of 0.38. The Marzetti Company has a fifty-two week low of $111.04 and a fifty-two week high of $190.96.

Marzetti (NASDAQ:MZTI - Get Free Report) last issued its earnings results on Tuesday, February 3rd. The company reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.08). The firm had revenue of $509.77 million during the quarter. Marzetti had a net margin of 9.06% and a return on equity of 18.12%. Marzetti's quarterly revenue was up 1.7% compared to the same quarter last year.

Marzetti Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, March 6th. Marzetti's dividend payout ratio (DPR) is presently 61.26%.

Analyst Upgrades and Downgrades

MZTI has been the topic of several analyst reports. DA Davidson dropped their target price on Marzetti from $184.00 to $168.00 and set a "neutral" rating on the stock in a report on Monday, March 16th. Weiss Ratings restated a "hold (c)" rating on shares of Marzetti in a research note on Friday, January 9th. Wall Street Zen cut Marzetti from a "buy" rating to a "hold" rating in a research note on Saturday, January 31st. Finally, Stephens cut their price objective on Marzetti from $160.00 to $140.00 and set an "equal weight" rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $169.33.

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.

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