Vest Financial LLC Boosts Stock Position in The Marzetti Company $MZTI

Key Points

• Vest Financial LLC increased its stake in The Marzetti Company by 71.8%, now owning 23,929 shares valued at approximately $4.13 million.
• Analysts have set a consensus price target for Marzetti at $206.00, with two ratings as "Buy" and three as "Hold."
• The company recently announced a quarterly dividend of $0.95 per share, representing an annualized payout of $3.80 and a dividend yield of 2.3%.

Vest Financial LLC lifted its position in shares of The Marzetti Company (NASDAQ:MZTI - Free Report) by 71.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,929 shares of the company's stock after purchasing an additional 9,999 shares during the period. Vest Financial LLC owned 0.09% of Marzetti worth $4,134,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Inspire Investing LLC boosted its holdings in shares of Marzetti by 16.3% during the second quarter. Inspire Investing LLC now owns 2,273 shares of the company's stock worth $393,000 after purchasing an additional 319 shares during the period. US Bancorp DE boosted its holdings in shares of Marzetti by 2.2% during the second quarter. US Bancorp DE now owns 5,589 shares of the company's stock worth $966,000 after purchasing an additional 120 shares during the period. KLP Kapitalforvaltning AS boosted its holdings in shares of Marzetti by 15.0% during the second quarter. KLP Kapitalforvaltning AS now owns 4,600 shares of the company's stock worth $795,000 after purchasing an additional 600 shares during the period. Naples Global Advisors LLC boosted its holdings in shares of Marzetti by 18.2% during the second quarter. Naples Global Advisors LLC now owns 3,175 shares of the company's stock worth $549,000 after purchasing an additional 490 shares during the period. Finally, Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Marzetti during the second quarter worth about $740,000. 66.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MZTI. Stephens reiterated an "equal weight" rating and set a $190.00 target price on shares of Marzetti in a report on Thursday, September 11th. Benchmark raised their price objective on shares of Marzetti from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Marzetti in a report on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Marzetti currently has a consensus rating of "Hold" and an average price target of $206.00.

Marzetti Price Performance

Shares of MZTI opened at $163.99 on Tuesday. The Marzetti Company has a one year low of $156.14 and a one year high of $202.63. The company has a 50-day simple moving average of $177.46 and a two-hundred day simple moving average of $174.42. The firm has a market capitalization of $4.51 billion, a PE ratio of 27.02 and a beta of 0.43.

Marzetti (NASDAQ:MZTI - Get Free Report) last issued its quarterly earnings data on Thursday, August 21st. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.31 by $0.02. Marzetti had a net margin of 8.77% and a return on equity of 18.87%. The business had revenue of $475.43 million during the quarter, compared to analyst estimates of $455.26 million. During the same period last year, the business posted $1.34 earnings per share. Marzetti's quarterly revenue was up 5.0% compared to the same quarter last year. Analysts expect that The Marzetti Company will post 6.8 EPS for the current fiscal year.

Marzetti Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.3%. Marzetti's dividend payout ratio (DPR) is currently 62.60%.

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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