Walleye Capital LLC Takes $1.24 Million Position in The Marzetti Company $MZTI

Key Points

• Walleye Capital LLC invested approximately $1.24 million in The Marzetti Company (NASDAQ:MZTI), acquiring 7,084 shares during the first quarter.
• Analysts have mixed views on Marzetti, with a price target increase from $185 to $200 while others downgraded their rating from "buy" to "hold." The stock has a consensus rating of "Moderate Buy".
• The company recently declared a quarterly dividend of $0.95 per share, representing an annualized dividend of $3.80 and a yield of 2.1%.

Walleye Capital LLC bought a new stake in The Marzetti Company (NASDAQ:MZTI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,084 shares of the company's stock, valued at approximately $1,240,000.

Several other large investors have also recently added to or reduced their stakes in MZTI. Tower Research Capital LLC TRC increased its position in Marzetti by 12.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,235 shares of the company's stock valued at $214,000 after acquiring an additional 137 shares during the period. Stifel Financial Corp increased its position in Marzetti by 11.5% in the 4th quarter. Stifel Financial Corp now owns 14,908 shares of the company's stock valued at $2,581,000 after acquiring an additional 1,541 shares during the period. Price T Rowe Associates Inc. MD increased its position in Marzetti by 10.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,097 shares of the company's stock valued at $2,441,000 after acquiring an additional 1,374 shares during the period. Northern Trust Corp boosted its stake in Marzetti by 11.1% during the 4th quarter. Northern Trust Corp now owns 290,133 shares of the company's stock valued at $50,234,000 after purchasing an additional 28,965 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Marzetti by 89.1% during the 4th quarter. AQR Capital Management LLC now owns 105,560 shares of the company's stock valued at $18,277,000 after purchasing an additional 49,734 shares in the last quarter. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on MZTI. Stephens reaffirmed an "equal weight" rating and set a $190.00 price target on shares of Marzetti in a research note on Thursday, August 28th. Benchmark increased their price target on Marzetti from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $206.00.

Marzetti Price Performance

Shares of MZTI traded up $1.16 during trading hours on Friday, hitting $185.07. 29,891 shares of the company were exchanged, compared to its average volume of 161,292. The company has a market capitalization of $5.09 billion, a PE ratio of 30.49 and a beta of 0.43. The firm has a fifty day simple moving average of $176.42 and a 200-day simple moving average of $176.54. The Marzetti Company has a one year low of $156.14 and a one year high of $202.63.

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

Marzetti Dividend Announcement

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 dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, September 8th. Marzetti's payout ratio is presently 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.