Walleye Capital LLC Invests $1.24 Million 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 purchased a new stake in The Marzetti Company (NASDAQ:MZTI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,084 shares of the company's stock, valued at approximately $1,240,000.

Other hedge funds also recently added to or reduced their stakes in the company. London Co. of Virginia increased its holdings in shares of Marzetti by 2.9% in the fourth quarter. London Co. of Virginia now owns 450,493 shares of the company's stock valued at $77,998,000 after purchasing an additional 12,500 shares during the period. Northern Trust Corp increased its stake in Marzetti by 11.1% in the 4th quarter. Northern Trust Corp now owns 290,133 shares of the company's stock valued at $50,234,000 after buying an additional 28,965 shares during the period. ProShare Advisors LLC lifted its stake in shares of Marzetti by 10.2% in the 4th quarter. ProShare Advisors LLC now owns 238,055 shares of the company's stock worth $41,217,000 after acquiring an additional 22,019 shares during the period. Invesco Ltd. boosted its holdings in shares of Marzetti by 6.4% in the first quarter. Invesco Ltd. now owns 200,873 shares of the company's stock valued at $35,153,000 after acquiring an additional 12,015 shares in the last quarter. Finally, Bahl & Gaynor Inc. boosted its holdings in Marzetti by 14.6% in the 1st quarter. Bahl & Gaynor Inc. now owns 181,084 shares of the company's stock valued at $31,690,000 after purchasing an additional 23,027 shares in the last quarter. 66.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Benchmark boosted their target price on shares of Marzetti from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Stephens reaffirmed an "equal weight" rating and issued a $190.00 target price on shares of Marzetti in a report on Thursday, August 28th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $206.00.

Marzetti Stock Performance

NASDAQ MZTI traded up $0.82 during trading hours on Thursday, hitting $182.34. 41,572 shares of the company's stock were exchanged, compared to its average volume of 161,642. The firm has a market capitalization of $5.02 billion, a P/E ratio of 30.04 and a beta of 0.43. The business's 50 day moving average is $176.18 and its 200-day moving average is $176.57. The Marzetti Company has a 12-month low of $156.14 and a 12-month high of $202.63.

Marzetti (NASDAQ:MZTI - Get Free Report) last announced 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. Marzetti had a net margin of 8.77% and a return on equity of 18.87%. The business had revenue of $475.43 million for the quarter, compared to analyst estimates of $455.26 million. During the same period in the prior year, the firm posted $1.34 EPS. The company's revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts anticipate that The Marzetti Company will post 6.8 EPS for the current fiscal year.

Marzetti Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Monday, September 8th. Marzetti's dividend payout ratio (DPR) is 62.60%.

Marzetti 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.